Debo Adejana calls for engagement of landlords in master plans

The MD/CEO of Realty Point LTD, Debo Adejana has reiterated the need for landlords to be adequately engaged in master plans.

Mr. Adejana made this known in an interview with Independent newspaper, which was published today, October 18, 2016.

In the interview, while he was answering a question on implementation of master plans years after structures have been developed in an area, he emphasized that situations where master plans are done without adequate engagement of existing landlords, can only lead to the kind of problems we now have.

The MD/CEO of Realty Point LTD further discussed issues such as the recent Omo Onile ban in Lagos, prices of building plans, housing deficit, and so on.

While being asked about what hope is there for the real estate sector in Nigeria, considering that most of the building materials are imported with the Naira continually falling against major foreign currencies, Mr. Adejana said: “Prices are already on the rise and this trend cannot be reversed until we start to make most of our building materials in the country or restrict ourselves to only using what we can manufacture locally.

He added that, “The latter will be more difficult, considering our population strength and the staggering deficit in the country’s housing stock, a combination of the approaches in my opinion is what we really need.”

To read the interview, get a copy of today’s Independent newspaper.