Fendini Homes, developer of Rayfield Gardens City Estate, Adebayo Alao Akala GRA, Ibadan, Oyo State, has canvassed the review of the legislation on land ownership and transfer, saying that the law is one of the reasons people are discouraged to have land and build their houses.
The firm noted that Nigerians, who wished to have their own houses were constrained by the challenges hampering home ownership and housing development.
Temitope Adeoye, the firm’s Director, Corporate Communications and Marketing, underscored the need for quick government intervention to address the issue of housing deficit across Nigeria, explaining that such move had become necessary for government because the main responsibility of the government was protection of lives and property of the citizenry.
Adeoye, who addressed a press conference in Ibadan, also noted the problem of rising cost of building materials, hoping however that the current government would find solution to it,.
“Building a house to a particular standard is key and funds have to be considered; the current state of the economy regarding building materials is not favourable; let’s also reform our tax; this will assist to reduce the cost of building materials,” he said.
Adelaja Adeoye, managing director and chief executive officer of Fendini Group, disclosed that Rayfied Gardens City Estate was a Public Private Partnership (PPP) project with the Oyo State government via the Oyo State Investment Public and Private Partnership Agency (OYSIPA).
He said the core mandate of the project was to develop decent housing estate for interested people across the globe, saying their major focus was to provide quality housing development for the people of the state.
“In our own case and in line with the state government, our estate must be standard; it is first of its kind in Oyo State because we are having both commercial and residential properties within the estate.
“We have all it takes inside the estate; it is a technology-driven and smart estate; most people underrate Oyo State when it comes to provision of real estate, but we want to show them that we have what it takes to have standard estate in this state,” he assured.