By Diana Omueza
G-text Holdings, a global real estate development company, says the private sector is responsible for over 50 per cent reduction in housing deficit recorded in the Federal Capital Territory (FCT).
Mr Njoku Michael, the G-text Executive Director, said this in Abuja during the launch and physical allocation of plots at its Phase 1 Sapphire Estate, Gwagwalada.
Micheal said that government efforts were not sufficient to meet the rising demand for shelter and affordable homes in the FCT.
According to him, effective housing delivery in the FCT has relied heavily on private developers who continue to invest in affordable, accessible and verified lands for residents.
“The private sector has contributed over 50 per cent of the efforts in closing the housing gap in the FCT.
“Our investments, innovations and continuous engagement with regulatory authorities have helped fast-track the delivery of credible and affordable housing options to residents.
“Government cannot handle the deficit alone, and that is why we, the developers, have become the major drivers of affordable housing in the FCT.
“From land acquisition to infrastructure development and housing delivery, the private sector is filling critical gaps that public resources alone cannot cover,” he said.
Michael said the company obtains lands through government allocations and conducts full verification with the FCT administration and authorities to ensure investor protection.
“Sapphire Estate has been designed to serve low-income earners, students and civil servants; the site is expected to host between 800 and 1,000 housing units when fully developed,” he said.
Also speaking, Mr Olufemi Shola, the Branch Manager of G-text Holdings, said the estate’s strategic location near the University of Abuja Teaching Hospital and other key institutions makes it a high-value investment.
He said the land is flat, accessible and ideal for immediate construction, projecting significant appreciation in the next decade.
Mrs Adeye Mofola-Shadi, an investor, urged members of the public to secure lands and other properties from verifiable and registered developers within the FCT, to avoid cases of land speculations which the FCT minister was tackling. (NAN)(www.nannews.ng)
Edited by Chidi Opara
