Shipping firm, FSI Global Limited, has expanded its footprint to the nation’s real estate sector in order to address the challenges in the sector.
This is as the federal government is stepping up efforts to tackle housing deficit in the country, which presently stands at 740,000.
Speaking on the expansion move, Managing Director of the company, Seyi Omirin, pointed out that Nigeria needs to produce one million housing units per annum to bridge housing gap.
He lamented that despite that the sector has emerged lately with more investors exploring the market as well as government’s interventions, home ownership is still very low.
He said the company had concluded to save the situation through its several innovative packages that will be released to the market soon.
He said: “Real Estate is one of the most lucrative businesses in Lagos, Ibadan and virtually everywhere in Nigeria today with the never ending demand for apartment, land and properties for personal and commercial purposes. It is also known to be a lucrative venture in the sense that whatever amount invested today on land or property won’t be the same amount it will be sold out later.
“Unfortunately, quite a number of middle and low income earners are yet to tap into the opportunities availed by the flexibility in the sector owing to a number of challenges. Hence, we are exploring the sector to address some of these challenges while making our offerings so affordable and equally flexible for every class of person to enjoy.”