Cost of building materials is the major challenge in estate development – Dele Emmanuel

Dele Emmanuel

He said his organization was at the housing show to showcase their products.  He made mention of some of the products they provide to their clients. He said that his company makes land available for building houses. He said they build houses which are mostly presidential to their clients.

The general Manager (GM) Operations, of Nuel Osilama Global Investment, Dele Emmanuel has pointed out that the cost of building materials is the major challenge in the real estate section. He made this disclosure at the 16th Abuja International Housing Show, when he was talking to newsmen.

He noticed that the environment is very tough. But as professionals they have been making maximum use of available resources in their disposal, to provide affordable housing for their teeming clients.

Dele Emmanuel revealed that his organization has properties all over Abuja with particular mention of the ones at Jikwoyi, Autabalefi, Wasa, Dutse etc.

He also said that their least expensive product which is a one bedroom bungalow on a plot 250 sqm land goes for two million naira (outright side). This cost he said excludes infrastructure fees.

He also said that when somebody buys a property from them, the person does not pay any further fee to the company. The person can only pay fees if a group of their subscribers on their own decides on how much to charge themselves for the maintenance of the estate, security and utilities.

On the challenges facing them in the industry, Dele Emmanuel said that the major challenge in the industry is cost of building materials. He believes that once it goes down, people will want to build houses.

Another challenge he pointed out is the bureaucracy which he said is of course a concern in obtaining approval. He described the process as cumbersome and discouraging for prospective owners who want to buy land.


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