Compiled By: Adebayo Miracle
“Government needs to put in more efforts in ensuring that people can access housing mortgage at affordable price” Says the first female chairperson of NIESV
An interview was held with the first female chairperson of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) Lagos branch MRS Olabisi Demola-Alade where she spoke detailedly on the real estate prospect amidst the poor economy and insecurity within the State and how the institution is tackling the challenges surrounding the growth and regulations of the real estate with Lagos state government.
When asked the reason why the residential market still looks good, favorable and unaffected in the business line despite the economic condition of the country, she said it is going to be like that for sometime now reason being that ever since the period of the Pandemic lockdown, people have come to realize that office apartment is no longer a necessity and requirement to keep the money coming into their account. As far as they have the necessary technologies and gadgets, work can go on anywhere and they are making use of alot of homes as offices now. This realization has brought setback to the marketers dealing with office properties as there are less patronage for office properties and more patronage for the residential properties instead. She explained further saying that everybody wants to have their residential properties within Lagos and still wants to make more money without much and unnecessary stress, as residential building in Lagos state has more value than in other state. She also said a lot of developers are now going into residential development as a lot of people preferred making money with ease at their own comfort. She said with the right infrastructure in place, there are no foreseen hindrances to the growth of the sector for the rest of the year.
Speaking on the rate at which urbanization is increasing within the country, which automatically poses challenges on the need of more residential buildings and security level, she recommended building of more affordable and social housing in cities.
“The government must involve estate surveyors and valuers in building homes because their services are important and I’m sure that our members are willing to work with government”
She furthered explained that out of the five Ibiles present in Lagos state, Ikeja, Ikorodu, Badagry, Lagos and Epe only two regions Lagos island and Ikeja, are only fully developed area in terms of housing. She said if other part where there are available lands to build affordable housing for people with rail lines and waterways working effectively, can also be worked on more people can live with ease. She also encouraged government on the need to provide more efforts in ensuring that people can access housing mortgage at affordable rate to avoid competition that might arise from limited infrastructure.
Regarding the recently established real estate regulation Law within the state, she claimed that their body are not having any grouse against the government but they just want a clearer view of the steps taken as they already have their own official registered body ESVARBON Estate Surveyors And Valuers Registration Board Of Nigeria, and they would not like their members to go through the stress of having to register twice. Saying they are professionals and the ESVARBON is in charged of all registered surveyors and valuers, they have their own disciplinary act. And that the president of the NIESV in person of Sir Emmanuel Wike, has visited the governor of Lagos State, Babajide Sanwo-Olu and the issue has been discussed as they are now out of Court and the issue will be resolved soon.
She made it known that the organization is involved in partnership with different firms to ensure continuity and full and effective performance of the body. When asked what her innovations and new ideas are as the recently sworn in first female chairperson for the Lagos branch NIESV, she talked more on still focusing on the partnership mostly between the estate surveyors and valuers In the public and those in the private sectors as she has noticed a gap between the two sides for quite sometime but the gap can be bridged. She also encouraged other female members to come on board as there is now capacity building and mentoring for the females.
She also explained the need for head in all various land officers in service so that they would be able to advise government on needs to be done on valuation, compensation, revocation, acquisition and such head officer will relate between those in public and private sectors. Saying further that the voice of all professionals as well as their challenges would be heard and work on within the policy and government programmes with a Valuer general present.
With the use of technology and its gradual development daily in the world, MRS Olabisi Demola-Alade made it know that the body is also working in hands with the development of the technology, as the branch is already teaching members the right way to grow the business with the adoption of technology through the resource centre. “ Recently we started visual training and the resource centre will focus on technology training by inviting IT experts to train our people”