Real Estate experts have canvassed the need for government to put in place policy that would compel developers to rent out completed but unoccupied estates in the Federal Capital Territory (FCT), Abuja. Unoccupied estates have become a trending issue mostly across the FCT in recent times with some of the buildings constituting social menace and hideout for criminalities in certain locations. The residential houses are located in, Apo, Kabusa, Garki, Maitama, Asokoro, Wuse, Gudu, Sunny Vale, Mpape, Bwari, Dei-Dei, Utako, Central District Area, Kubwa, airport road and Kure. Other areas include Kuduru, Orozo, Karishi, Kubwa II, Lugbe, Mararaba, Zuba, Suleja in Niger State; Kado, Jahi and Guzape, behind Abacha Barracks in Kaduna road. The investigation by The Guardian revealed that politicians, businessmen, and women, as well as top civil servants, own some of these unoccupied estates and structures while some developers on their part, didn’t do enough homework before investing in a certain part of the city. In some of the projects, it was learned that one and two-bedroom apartments at Centenary Estate, for example, goes for N100 million outright sales, while in some they are sold for N15 and N20 million. Civil servants who form the majority of the occupants of Abuja can’t afford to buy such houses. It was also gathered that since 1976 when the Federal Housing Authority, (FHA), was established and in the past nine years, the agency has no recorded low budgetary allocation, which hinders the development of more houses for the residents and Nigerians. Findings revealed that it has developed a little over 40,000 housing units in 77 estates nationwide, while four of those estates situated in Odukpani, North Bank in Benue State, Ogun and Kaduna states have not been occupied. Experts told The Guardian that Nigeria might not meet up with the Sustainable Development Goals,(SDGs) in providing affordable houses for her citizenry if the situation persists amid the citizens’ huge demand for housing. The Deputy Director, Estate in Federal Capital Development Administration, Yemi Yemitan explained that housing deficit has come to stay, because of the affordability of the available properties in the real estate market. According to her, transform from the present experience, the government’s policy on housing should be a social service, and not economic gain, or profit-making.“Estates are littered in all nooks and crannies of Abuja, and its environs, not for low-income earners. Some developers don’t want people to know their assets. That is why they are unoccupied.” An official of the urban and regional planning unit in the Federal Ministry of Works and Housing said: “Factors that contribute to unoccupied estates, or houses in the city center, include court cases, high rental, non-payment of collateral from banks. Others are, forfeited buildings and lack of infrastructure.” Contributing, the Director, Public Building in the ministry, Adinoh Uwodi said that housing deficit in the country affects mostly the low-income earners, adding that the government gives out land to developers only to build for the high class of people in the society. “They cannot get prime land to build for common citizens. No organization can claim ownership of the data that Nigeria has 22 million housing deficit. We do not know to project into the future. The high cost of accommodation causes low-income earners to seek alternatives in the outskirts of Abuja. The government needs to develop the economy of rural areas, by establishing industries in those locations’’, he said.
source: Cornelius Essen
The Federal Government has expanded the Abuja-Kaduna-Kano Road project to incorporate a direct...
12 hours ago Read MoreThe Federal Capital Territory Administration (FCTA) has taken possession of Wadata Plaza, the...
8 days ago Read MoreDefaulters on FCT ground rent now have 14 days grace to pay up what they owe the FCT Administration...
8 days ago Read MoreUnprofessional practices by estate agents in major cities are significantly influencing the spike...
23 days ago Read MoreA Real estate development firm, Lifecard International Investment Company, has revealed that many...
a month ago Read MoreDespite a fall in investment volumes from the 2021 peak, there is an ongoing desire for property...
a month ago Read MoreThe Lagos State government has advised the leadership of the Nigerian Institution of Estate...
a month ago Read MoreReal estate market dynamics such as construction cost, land, finance, government policies and taxes...
a month ago Read MoreEvent Set to Celebrate Managers Who Shape Careers and Drive Organizational Growth Business...
2 months ago Read MoreGlobal Leaders to Converge in Lagos for Landmark Event Driving Urban Innovation and...
2 months ago Read MoreIn a bold move to redefine affordable luxury housing, Nigerian real estate giant Gtext Holdings has...
2 months ago Read MoreIndustry Experts Urge Anti-Corruption Measures, Innovative Financing to Address Crisis By: Oche...
2 months ago Read MoreLAGOS, NIGERIA – Global real estate consultancy Knight Frank and UK developer Mount Anvil...
3 months ago Read MoreBy Oche Onum Lagos, Nigeria As Nigeria’s real estate sector braces for 2025, rapid...
3 months ago Read MoreBy Oche Onum Abuja, Nigeria In a landmark move to combat climate vulnerabilities in urban...
3 months ago Read MoreLAGOS, NIGERIA The Federal Government announced plans Wednesday to establish a Real Estate...
3 months ago Read MoreAccording to The Guardian's investigation, 70% of Nigerian states rely on manual land...
3 months ago Read MoreWhat is the Initiative? The Federal Government of Nigeria has unveiled an N100 billion private...
3 months ago Read MoreAbuja, Nigeria’s gleaming administrative capital, has long symbolized hope for migrants...
3 months ago Read MoreAbuja, Nigeria The Federal Housing Authority (FHA) has suspended all ongoing construction projects...
4 months ago Read More