Public Private Partnership, Future Of Housing Development

Director, Lagos State Ministry of Housing, Mrs Nike Animashaun, said the future of housing development is in partnership of the private sectors and the government.She said for government to provide affordable housing for Nigerians to meet growing accommodation need, more contribution is needed from the private sector.Animashaun said this at a Growth Employment in States (GEMS)-sponsored real estate conference held in Lagos, where she spoke on Jump-Starting Nigeria Real Estate for Global Investments.GEMS2 Intervention Leader, Afolabi Imoukhuede,who moderated the session titled Affordable Residential Estate Development' said: 'Enormous opportunities and economic prosperity of affordable housing development is available for discerning investors and government seeking to create employment and wealth'.GEMS2 is a DFID-funded technical assistance programme, which facilitates growth and employment in the construction and real estate sector.Affordable housing is one of the key interventions of the GEMS2 programme. The intervention has provided thought leadership in the realisation of affordable housing through creative avenues such as real estate conference, affordable housing demand/supply survey and strategic partnership with relevant organisations.Other panellist, Mr. Olujide Ojo of Mutual Benefits Homes and Properties, examined a case study of his company's housing development strategies targeted at the lower and middle market.He charged property developers to aim for smaller margins to achieve long-term sustainable returns from broader market. He asked developers and housing financiers look to encourage prospective homeowners to explore opportunities in apartment ownership to acquire homes.
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