Real estate company, Gestpoint Nigeria Limited, has called on the Federal Government to simplify the land documentation process to enhance housing construction and home ownership across Nigeria.
The real estate company’s Managing Director, Dr. Ebenezer Akinrinade, made this appeal during a recent interview with journalists in Lagos.
Dr. Akinrinade highlighted the challenges investors face in the real estate sector, noting that the current land documentation process is cumbersome and time-consuming. “The government, especially at the federal level, should consider setting up special funds for operators and providing grant extensions for would-be investors. This would encourage more developers to embark on real estate projects, thereby addressing the issue of housing shortfalls,” he stated.
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He further emphasized the need for financial support in the sector, suggesting that the real estate industry should be eligible for grants similar to those provided to other sectors. “If you are going to banks for loans, the interest rates alone are enough to stifle your business. The government should consider creating common grant templates to ease this burden,” Akinrinade added.
In his remarks, Akinrinade also encouraged Nigerians to take advantage of Gestpoint’s various real estate projects, including Champions Court, Emerald Estate Phase I and II, Gold City Estates in Epe, Lagos, Glamour Estate in Oshiwo, Ogun State, and Emerald Estate Moniya, Ibadan. He noted that the firm offers affordable housing solutions, particularly targeting lower-income earners, with payment plans ranging from three months to one year.
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“The main goal is to provide affordable homes, with options as low as N1.2 million in Ibadan, and flexible payment plans to make homeownership accessible to more Nigerians,” he said.
Akinrinade also urged developers to ensure transparency in property offerings by thoroughly documenting transactions and titles. He assured that Gestpoint enforces due diligence in all its dealings, with properties well registered with the government.\
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He further advised potential investors to prioritize understanding the status of any land before committing funds, emphasizing that knowledge of the land’s status—whether residential, commercial, industrial, or agricultural—can prevent investment mishaps. “Despite economic challenges, real estate remains a reliable investment. Real estate appreciates daily, and understanding the source and status of the land is crucial to avoiding land disputes,” Akinrinade concluded.