Mr. Dapo Wahab is the Group Managing Director, Pekuliar Properties Limited. In this interview with MAUREEN IHUA-MADUENYI, he says despite the influx of developers into the housing sector, the demand gap is still huge
Having been in the housing sector for a while, what is your assessment of its performance over the years?
I would say it is an emerging market, it is gradually growing. For an investor, it is a market that needs to be explored because it has not been fully explored but for the government; I think a lot needs to be done to support the sector, particularly for end users, the masses who intend to own their homes.
What is key is that the provision of housing is far from demand. We are about 160 million and the number of available houses is far from being adequate, and there is no tangible government support in terms of mortgages for the people to be able to afford properties in this part of the world.
What major changes do you think the sector needs from the government and individuals?
Discovery Court to get additional apartments
The growing number of estates and housing options within the Isheri community appears to be getting bigger by the day as developers of the Discovery Court properties are to set to roll out 500 additional apartments.
Judging by the success of the phase 1 and acceptance of the second phase of the Discovery Court estates, there are plans by Pretoria Atlantic Properties Limited and its project partners, including Pekuliar Properties Ltd, to increase the number of housing units available to prospective buyers and discerning investors.
It is noteworthy to mention that the first phase is completely sold out and sales of phase two is ongoing. Interested buyers can take advantage of a special season’s promo that allows customers to acquire houses at mouth-watering discounts and access flexible payment plans.
First phase of Akorede International Modern Market, Ijesha nearing completion
First movers and early subscribers to Akorede International Modern Market, Ijesha can begin to look forward to the delivery of their shops as Sam Tec Nigeria Ltd, developers of the project, have announced that the first phase is now completed and commission will be soon.
At full completion and delivery of this phase of construction, Pekuliar Properties will be facilitating the allocation of four blocks, consisting of 188 shops.
Major subscribers to the project include Imperial Homes (formerly GThomes), Trade associations and discerning private investors.
The project developers have reinstated their commitment to the delivery of the project within the set construction schedule.