Estate Developer Seeks Govt Partnership To Tackle Housing Deficit

Mr Ade Adebayo, an Estate developer, has stressed the need for federal and state governments to partner corporate organisations toward addressing the housing deficit among civil servants.

Adebayo, the Managing Director, UT Financial Investment Services and Estate Developer, made this known in an interview with newsmen in Port Harcourt.

He said that the housing needs of low-income earners could only be addressed if government partnered private estate developers by providing lands for developers to invest in low-cost housing estates.

“If state governments could partner estate developers by providing land while the developers build and mortgage the houses to the people at affordable rates, the problem of housing in the country would have been addressed,” he said.

Adebayo said that so far his company had recorded successful partnership in Lagos and Ogun states, adding that it was looking forward to replicating same success in Bayelsa where it was set to showcase its facilities.

“We recorded successful partnership in Lagos and Ogun states where we built houses at moderate prices with high quality locally-sourced building materials.

“And we are already mortgaging these houses to civil servants at affordable cost.

“We operate up to 10 to 15 years mortgage cost for between N14 million and N22 million depending on the facility.

“We ensure the mortgages are made available to interested buyers as soon as initial deposits are made.

“That's why the government should embrace this partnership to reduce the burden of housing on the civil servants,” he said.

Adebayo urged civil servants as well as other interested persons across the country to take advantage of the housing initiatives of private developers to meet their housing needs.