To bridge housing gap, the Chief Finance Officer, AM Reality Limited, Dayo Adenubi, has called on government to tackle rising inflation, which is impacting the cost of building materials and construction in the country.
Speaking at the launch of CrestVille Apartments in Ilupeju, Lagos, he explained that inflation should be reduced to six or eight per cent, adding that it will help to reduce pressure on income of Nigerians and incentivise banks to give mortgage loans.
“There should be credit providers, which are the banks. The banks will sell the mortgages to individuals.They will package the mortgages into mortgage-backed securities and trade in the capital market. The government must put regulatory measures and infrastructure in place for such markets,” he stated.
He said there is need for multi-family housing units instead of the single-family units. The units, he said, must be able to accommodate thousands of people at the same time, while such housing units must be properly maintained.
According to him, there is need to revive the low-income housing policy, like what former Lagos State Governor, Lateef Jakande, did during his tenure.
The Chief Executive Officer of the firm, Mayowa Adebolu, disclosed that AM Reality Limited built CrestVille Apartments on behalf of investors, adding that when you build quality structure with good marketing, there is nothing that is impossible.
Adebolu said: “We have not defaulted our investors. We want the facility to be the most talked about short-let property on the mainland. It is a facility managed by professionals. All investors can track their returns on investment. Transparency is also important to us. Our next project is at Surulere.”
