Expert Urges Lagos to Promote Inclusive Communities

By James Emejo

The Lagos State Government has been advised to provide incentives for real estate developers to build inclusive communities.

The Chief Executive of Octo5 Holdings, Mr. Jide Odusolu said there was need for the governments to incentivise developers who build inclusive communities to solve the problem of social housing.

Odusolu, at the real estate discussion and awards conference in Lagos, noted that there is currently no major community in state that is not bookended by shanties.
According to him, upscale communities need places to stay adding that the only solution to the risks posed by shanties was for the government to encourage developers into social housing.

He said people want communities that limit their commute, pointing out that since the outbreak of the COVID-19 pandemic, most people now prefer to live in communities that reduce their transportation needs, adding that there had been increased the demand for communities where people can live, work and play.

He said,”There is no benefit for me to build an upscale community and have a shanty next to it, so if government says to me; build your community and then upgrade the shanty next to it so there are upgraded markets, malls and recreation centers in exchange for concessions or tax rebates, then there is increased motivation on my end to invest in such social upgrade.”

According to the real estate expert, “Any developer or investor who is serious about inclusive communities should look at growing communities and investing for the future.”
He also called on real estate developers to see the social value in investing in communities around their developments.

He said this would help to achieve a truly inclusive greater Lagos whose population is projected to hit 50 million in a few years.
He warned that unless inclusive growth is put into perspective and structures put in place to address social housing challenges, Nigerians could be in for a rough time in the near future.

Also speaking on the issue of inclusive communities, the immediate past Chairman, Nigerian Institution of Estate Surveyors and Valuers, Mr. Dotun Bamigbola said real estate developers should consider entering into public-private partnerships (PPP) with the government to provide much-needed infrastructure that will improve communities.