The world president of the International Real Estate Federation, Mr Flavio Gonzaga Nunes has obliged the federal government to review deregulations in order to hasten the development of real estate in Nigeria.

He made this remarks in a seminar organized by the International Real Estate Federation (FIABCI) to tackle the challenges of planning approval and housing development in Nigeria.

In an interview with the president, Mr Nunes attested to the fact that the real estate is a slow developing process, but however advised the government to fast track its activities in ensuring that there is massive improvement in the sector in years to come.

In his words, “We know the real estate sector is a slow developing process but the Federal Government should however do a lot to ensure there is a review in deregulation policies of the government in order to make business better in the country.

Nigeria has several opportunities and there is money circulating, so there’s high demand in the country and the real estate sector is one angle in which investor would want to have a shot at. Hence, there is need to restructure the real sector and again, housing in Lagos is expensive but this may be attributed to lack of space”, he said

Mr Nunes was however quick to leap praises on the Lagos state government for the ongoing Eko Atlantic project. “I’m really impressed with the Eko Atlantic Project – a new city project, which would have a population of 250,000 inhabitants and 150 commuters in a few years from now” he concluded.

The International Real Estate Federation – Nigeria chapter, hosted top experts and personals in the real estate sector in a one day seminar tagged “Challenges of planning approval and its effects on housing development in Nigeria”, a move to fast track the growth of house planning and development  in the real estate sector.

2014-04-30