Real Estate Mogul, Michael Adeyemi, Advocates for Public-Private Partnerships to Address Nigeria's Housing Deficit

 

Renowned real estate mogul and builder, Michael Adeyemi, underscored the significant potential for expansion in Nigeria's real estate industry, attributing it to the nation's surging urbanization and population growth. He emphasized that the onus of addressing the housing challenges in major Nigerian cities does not fall solely on the government.

In an exclusive interview, Mr. Adeyemi, the Chief Executive Officer of Realtormax, articulated that it would be an oversight for the government to be the sole entity tackling the nation's housing deficit. He alluded to Sustainable Development Goal (SDG) 11, advocating for a synergistic approach between the private sector and governmental bodies to foster sustainable urban development and address housing shortages across pivotal regions.

Mr. Adeyemi encouraged individual and institutional investors to actively participate in the real estate domain, reiterating that collective involvement is imperative. "The sheer scale of Nigeria's population necessitates a collaborative approach between governmental agencies and the private sector to ensure affordable housing for all," he asserted.

The Realtormax CEO expounded on the belief that homeownership should be a universal right for Nigerian citizens, irrespective of their economic status. He championed the idea of a flexible payment system to accommodate the diverse financial capacities of potential homeowners, from low to high-income brackets.

Furthermore, Adeyemi elucidated on the transformative impact of the real estate sector on employment rates. He highlighted the multifaceted job opportunities it offers, from roles for engineering graduates, sales executives, and financial professionals to positions for quantity surveyors, town planners, and architects. The sector, he emphasized, is a reservoir of vast employment opportunities.

On a concluding note, Mr. Adeyemi revealed that Realtormax is poised to make significant recruitment strides, aiming to onboard approximately 10,000 Nigerians in the real estate space. This move, he hopes, will not only bolster employment rates but also reaffirms his commitment to the nation's economic upliftment. The pivotal role of the real estate sector in the national economy, according to Adeyemi, necessitates heightened attention and investment.