The Anambra State Governor, Prof. Chukwuma Soludo, has announced plans to sanction real estate companies engaged in selling land without developing houses as part of efforts to tackle the housing deficit in the state.
This directive is set to take effect from January 2025.
Governor Soludo, represented by the Commissioner for Housing, Mr. Pauly Onyeka, made this known during an end-of-year event organized by Reapfold Properties, a leading real estate company in the state. He emphasized that many companies failing to meet the expectations of real estate development will be delisted.
Speaking at the event, the commissioner said, “Governor Soludo is committed to reducing the housing deficit in Anambra State. Real estate companies must complement his efforts, not sabotage them. By January, we will begin inspecting these companies to ensure they are not just selling land but actively developing estates.”
He continued, “The governor’s vision is for Anambra residents to own homes. Unfortunately, some companies sell land without any plans for development. This is unacceptable. The focus should be on estate development to drive the state’s growth.”
Mr. Onyeka also commended Reapfold Properties for maintaining integrity in its operations. He noted, “Reapfold Properties has a clean record, which cannot be said for all real estate companies. The governor is also supporting the industry by constructing roads in previously inaccessible areas, driving up land value and making real estate investments more viable.”
Reapfold Properties Launches Real Estate School, Rewards Top Agents
The Group Managing Director of Reapfold Properties, Mr. Nonso Smart Okafor, praised the governor’s efforts to improve infrastructure, which has positively impacted the real estate sector. He highlighted that land remains one of the most valuable investment options due to its ability to appreciate and its status as a tangible asset.
During the event, Mr. Okafor announced the launch of the Awka School of Real Estate, aimed at equipping individuals with knowledge and skills in real estate development. He also recognized the dedication of the company’s agents, presenting awards and prizes to outstanding performers.
The ultimate prize, an SUV vehicle and an international holiday trip, was awarded to Mr. Stanley Onunkwor, who emerged as the most outstanding agent of the year.
The event was a celebration of integrity, dedication, and the drive to transform Anambra State through real estate development.
