BUJA, NIGERIA_ – As the Federal Capital Territory (FCT) continues to grow and expand, real estate developers and investors are calling on the federal government to provide seamless opportunities for development, particularly in areas like Idu, Lugbe, Wasa, and Deidei Axis of Abuja.
These areas, located on the outskirts of the city, hold immense potential for growth and development, with vast tracts of land available for residential, commercial, and industrial projects. However, despite their potential, these areas have remained largely underdeveloped due to a lack of infrastructure and government support.
According to industry experts, the federal government’s support is crucial to unlocking the potential of these areas. “The government needs to provide incentives, such as tax breaks, subsidies, and streamlined regulatory processes, to encourage real estate developers and investors to invest in these areas,” said Mr. John Oyegun, President of the Real Estate Developers Association of Nigeria (REDAN).
Furthermore, the government needs to invest in infrastructure development, such as roads, bridges, and public transportation systems, to make these areas more attractive to developers and investors.
“The government’s support is essential to creating a conducive environment for real estate development in these areas,” said Mrs. Funke Okubadejo, Managing Director of AMG Properties. “With the right incentives and infrastructure in place, we believe that these areas can be transformed into thriving hubs of economic activity.”
The call for government support comes as the FCT Administration has announced plans to expand the city’s infrastructure and amenities. The administration has also expressed its commitment to working with real estate developers and investors to achieve this goal.
As the federal government continues to explore ways to stimulate economic growth and development, the real estate sector is poised to play a critical role. With the right support and incentives, the potential for growth and development in areas like Kuje, Giri, Idu, Lugbe, Wasa, Waru, Buhari and Deidei Axis of Abuja is vast and waiting to be tapped.
_Sources:_
– Real Estate Developers Association of Nigeria (REDAN)
– Federal Capital Territory Administration (FCTA)
– Nigerian Institute of Estate Surveyors and Valuers (NIESV)
