Developer seeks enhanced land documentation process

3 months ago 4

By Victor Gbonegun

12 August 2024 | 1:34 am

Lagos-Based real estate firm, Messrs Gestpoint Nigeria Limited has implored federal and state governments to simplify the land documentation process towards enhancing housing construction and home ownership across the country. The firm’s Managing Director, Dr Ebenezer Akinrinade, made the call during an interaction with journalists in Lagos. According to him, the process of getting land…

The firm’s Managing Director, Dr Ebenezer Akinrinade, made the call during an interaction with journalists in Lagos. According to him, the process of getting land documented is cumbersome and time-consuming, adding that the development impedes investment in the real estate sector.

He said the government should consider special funds for operators and provide grants for would-be investors to encourage more developers to embark on real estate development and solve housing shortfalls.

The firm also charged Nigerians to take advantage of its housing projects in Lagos, Ogun, and Oyo States. He also advised developers to ensure property offerings are documented for transparency and confidence in the sector.

Akinrinade wants Nigerians, investors and developers to ascertain the status of lands before investing, explaining that the ‘status of land’ will reveal the plans of the government on any particular land either for residential, commercial, industrial or agriculture.

He urged prospective homeowners to invest in real estate. “Irrespective of the economic challenges Nigerians might be facing now, the best thing is to invest in landed property because real estate appreciates daily,” he said.

On the challenge of land grabbing, Akinrinade urges investors to investigate the sources of the land they are investing in and whether there is a dispute or under government acquisition.

He assured that the firm’s land schemes are landmark developments, which are well secured with perimeter fencing, layouts and infrastructure like roads and drainages.

Akinrinade emphasised the need for transparency in transactions, warning that it remains the major selling point for real estate investors in the diaspora, who may wish to invest in the Nigerian property market.

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