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‘Govt. has not created enabling environment for real estate business to thrive’

Lagos-based Real Estate and Engineering Firm, Pazino Engineering & Construction Company Limited has said it is on a mission to transform Nigeria’s real estate sector to world class standard by adding new styles and dimension to what is currently in existence in the sector.

Managing Director of Pazino ECC Ltd, Mr. Patrick Agbaza, who dropped the hint in Lagos, lamented that government has not created the enabling environment for the real estate business to thrive. According to him, government only pays lip service to the development of the sector. He also added that the banks have not really helped the sector too.

He said Pazino ECC is set to bring awareness and transform life in the areas of construction and engineering in the real estate sector by adding facilities like Aviaries, Play areas, Parks for both children and adults, Manicured gardens, Lawns and landscape areas with sheltered seating areas.

According to Agbaza, the practice of real estate business has transformed tremendously from what it used to be and there is need to take advantage of developments on the global stage. “At Pazino ECC, we intend to take real estate from what it used to be to the next level in terms of construction and building type. For instance we have a lot of estates scheme we are developing along the Lekki Epe Express Way which we prefer to call “Garden Schemes”. We call them gardens because our plan is to build homes surrounded by greeneries, which we believe guarantees longevity of the life span of people living in this kind of environment.

Our garden schemes will also feature perimeter fencing, drainages among other things. All these features we’ve added will make more people embrace living in estates” he said.

He said Pazino is determined to make people understand why they should invest in real estate because there are huge potential for better return on investment in real estate.

“As a matter of fact, since 2009/2010, the Nigerian real estate sector has witnessed resurgence particularly in the southern part of the country. According to a report by Augusto & Co, “real estate activities in Lagos accounts for at least 40% of the sum total of Nigeria’s real estate market”. Therefore, it pays to know that the Lekki Peninsula corridor where we have our Garden Schemes is the fastest rising real estate in Africa,”



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