A real estate firm, Propertyville Development Limited, has expressed passion for contributing to the reduction of the housing deficit in Nigeria.
The firm is currently preparing to provide land for approximately 10,000 people in Ibadan, Oyo State.
According to the Managing Director of Propertyville, Tolulope Oguntade, the company recently toured one of their housing development projects, Flourish County, at Omi Adio.
He said the company is dedicated to reducing the housing deficit in Nigeria through a commitment to building affordable housing solutions without compromising on quality.
Oguntade stated that at the beginning of the year 2024, “Propertyville launched Project1000landowners aimed at making 1,000 landowners.
“To achieve this, we vowed to develop habitable, city-centric, and investment-friendly estates. Flourish County is the one heralding this project. Over 100 individuals from different walks of life participated in this tour.
“Like the rest of Nigeria, access to affordable quality housing remains a serious challenge in Oyo State. This has led to Governor Seyi Makinde’s appeal for the collaboration of the private sector in tackling the huge housing deficit.”
Oguntade explained that in 1991, Nigeria grappled with a housing deficit of 7 million units. Recent data from the Federal Mortgage Bank of Nigeria (FMBN) as of January 2023 reveals an intensified deficit of 28 million units, with an annual increase of 900,000 units. Some of the issues affecting housing in the country include the rising cost of building materials and difficulty in processing land titles.
He noted that the tour of the flagship project, Flourish County at Omi Adio, located 200 meters from the Ibadan-Abeokuta Expressway, aims to woo investors.
“Flourish County Estate is being developed as an affordable residential community with adequate infrastructure and facilities to serve its residents. Amenities that will be provided include perimeter fencing, a gatehouse, electricity infrastructure, a road network within the estate, green areas, and play areas.”
Also at the tour, Ambassador Spark Ovadje said, “What we have seen today indicates that Propertyville is a company of its words, which speaks loudly in their mantra: Building Trust, Delivering Excellence.
“For a six-week-old project, a lot has been done already. As we speak, the perimeter fencing of the estate is ongoing,” he stated.
Propertyville Real Estate Development Limited is a Nigerian real estate and property company based in Ibadan, specializing in property consulting, development, land acquisition, and house acquisition.
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