Metro
Realtor urges Nigerians to embrace untapped Rent-To-Own housing finance opportunities
(Photo: L-R: Mr Michael Simire, Publisher, EnviroNews Nigeria; Deacon Jide Durojaiye, Managing Director, Legrande Properties Development Company Ltd and Mrs Okwy Iroegbu-Chikezie, Chairperson, Property and Environment Writers Association of Nigeria (PEWAN) during a tour of PEWAN members to the firm’s project sites on Thursday in Lagos.)
A Real Estate expert, Mr Jide Durojaiye, has advised Nigerians to embrace the Rent-To-Own Scheme housing finance model to meet their shelter needs.
He said that the model was largely untapped in Nigeria, and urged governments to provide enabling environment to popularise the option.
Durojaiye, Managing Director, Legrande Properties Development Company Ltd, spoke when journalists undertook a tour of the firm’s projects in Ibeju Lekki on Thursday.
He said that the model was making housing finance and home ownership easier in developed countries. and would help to bridge housing deficit.
The realtor said Nigerians were under-utilising opportunities for mortgage finance offered by the Federal Mortgage Bank (FMBN).
He said the Rent-to-Own offered opportunity for affordable mass housing.
“As I am talking to you, they (FMBN) have money and people are not using them,”he said.
He said Lagos government was partnering Legrade Properties Company Ltd in reconstructing the Jakande Estate, Ajah from two to eight storeys and building 11 estates called Alexandra Courts, Coastal City, Ibeju-Lekki.
He said the Rent-to-Own model was the most convenient way for people to own their homes, with the benefit of loans from mortgage institutions and Pension Funds.
Durojaiye explained that the partnership for the Alexandra Courts, Ibeju-Lekki was for the developer to build a New Lagos model of 22 blocks of 32 units in two phases, to be delivered from March 2024.
He said the Alexandra Courts, Costal City, Ibeju-Lekki project called ‘The New Lagos’ had all infrastructure and facilities that offered comfort and safety.
The News Agency of Nigeria (NAN) reports that ‘The New Lagos’ refers to mini cities around the new proposed airport and seaports, Lekki Free Trade Zone and Refinery.
He said the rent-to-own investments of the state government in the Alexandra Courts would unlock potential, add value, enhance urban renewal efforts and solve various challenges to provide affordable housing for residents.
He called on all levels of government and Nigerians to embrace the rent-to-own scheme to address accommodation problems and housing deficits.
Durojaiye also said Lagos State and the FMBN were in partnership with private investors on the New Lagos City to create jobs, increase Gross Domestic Product and add value to various communities.
He commended the state government for digitalising land acquisition procedures and starting rent-to-own initiative in 2021
Durojaiye said it helped to enhance the Lagos master plan, economy, investments and affordable housing for high and middle class earners.
He said Lagos State currently had over 20 mini cities targeted at bridging shelter gap and ensuring urban renewal.
The realtor listed facilities in the estate to include: Independent Power Project, Schools, Hospital, a helipad among others with moderate service charge.
He appealed to the media to help the public understand enormous opportunities provided by the FMBN for low and medium income earners to have access to affordable mass housing.
NAN reports that the journalists, drawn from the Property and Environment Writers Association of Nigeria (PEWAN), also visited Court Land Villa, Lekki, another estate jointly owned by the firm and Lagos government.
Earlier, Mrs Okwy Iroegbu-Chikezie, Chairperson, PEWAN explained the agenda setting role of the media to management and staff of Legrande Properties Development Company Ltd.
A Student Of Osun State Polytechnic, Iree, Osun State, has died after being hit by a trailer driver on Monday, April 15.
The Accident was said to have occurred when the driver, who was reportedly driving against traffic, collided with the motorcycle conveying a student named Olanrewaju Olatona and another passenger along the Ikirun-Osogbo road area of the state.
Due to the severe impact, Olanrewaju Olatona, a National Diploma 2 student, suffered fatal injuries. He died at the scene.
Olatona, who was the Financial Secretary of the Department of Mass Communication, was preparing for the one-year Industrial Training programme.
The driver fled the scene after the accident and has not been apprehended.
Subsequently, Osun State Polytechnic students organised a procession in front of the school gate and blocked the expressway for several hours.
Some unknown gunmen have kidnapped Joshua Rogers, the ChannelsTV reporter in Port-Harcourt, the Rivers State capital.
Politics Nigeria learnt that Rogers was picked up close to his residence at Rumuosi in Port Harcourt and to an unknown destination by the gunmen around 9pm on Thursday, April 11.
The reporter was driving his official ChannelsTV branded car when the hoodlums accosted, pointed a gun at him and took him away in the same vehicle.
Rogers was said to be returning from his official assignment in Government House after a trip to Andoni for a government event when the incident happened.
Already, the gunmen were said to have contacted his wife and demanded a N30million ransom for bis release.
His cameraman confirmed the incident and appealed to his abductors to set him free unconditionally.
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