An
expert in the housing sector and the Managing Director of Symphony Garden
City, Lagos State, Mr. Bola Adeboye has identified the strict policies of the
government as factors responsible for low investment in housing sector by
foreign investors.
Adeboye
lamented that the polices of the government on housing has become unbearable
for investors hence the reason why they avoid the sector.
The
Managing Director who spoke after his Investors' Forum on the proposed Symphony
Garden Estate at Ogudu, Oworo - Shoki area of Lagos state decried the rate
investors move their investment from Nigeria to other countries because of its
stiff policies.
He
said government needs to deregulate its housing policies in order for both
local and foreign investors to invest in it.
He
said "Government of some countries has less than 5% interference in
housing unlike Nigeria where government influence is over 80%.
"
Investing in housing in Nigeria is tasking because they keep bringing different
policies. Just like it took us three years to get to where we are and it is
only a determined soul that could go that far.
"Government
should deregulates, they should give room for professionals on the field.
"
It is only when government redufe interference in housing sector that would
encourage investors to invest in it",he said.
He
appealed to the government to deregulate and reduce their interference in
housing, advising them to give room for professionals in the field.
He
also advised government to embark on full housing scheme in order to
address the housing deficit in the country.
While
speaking with investors at the forum, Adeboye described the new estates as 'an
exquisite luxury of island on Lagos mainland'.
Adeboye
explained that the garden City is located on a strategic position in mainland
which has all the facilities of the island.
He
added that they would provide all social amenities like good road, recreation
centre, club house, schools among others in the estate.
"Our
Garden city is located at the centre of Lagos state which made it a strategic
position. It is a 20 minute drive to any part of the Lagos state whether the
island or mainland.
"
Symphony Garden has the facilities of the island in the mainland. We are
bringing the luxury of the island to the mainland.
"You
don't need to go to the island because it has already been overcrowded, and we
are providing everything you will see on the island on the mainland".
Adeboye
however said the City would be affordable to both the middle and upper class
earners in the country, adding that they have provided way that would made it
affordable to lower class earners.
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