Lagos-based real estate development firm Fountain Havens Limited has voiced its apprehensions regarding the scarcity of skilled artisans essential for housing construction in Nigeria, highlighting it as one of the predominant obstacles plaguing the real estate sector.
During the ceremonial handover of a fresh collection of eight exquisite yet affordable luxury apartments to eager subscribers in Lagos, the company’s Head of Sales and Business Development, Mr. Ruona Oghuvbu, articulated that even in the face of a challenging economic landscape and surging inflation, the project was accomplished within a remarkable 17-month timeframe and adhered to stringent quality standards.
He elaborated on the company’s operational ethos of under-promising and over-delivering, a philosophy that continues to cultivate trust among its clientele.
However, Oghuvbu lamented the dwindling pool of adept artisans, pointing out that this deficiency has compelled developers to enlist labor from neighboring countries.
“We had to procure artisans from the Benin Republic to execute certain specialized tasks. This represents one of the most significant hurdles in managing the technical aspects of construction. The silver lining is that the government has recently sanctioned free access to technical schools, a move we hope will aid in bridging the skills deficit,” he remarked.
He praised the advancements made in building approval timelines but described the associated costs of approval as still excessively high. He further underscored the challenges of managing construction processes amid economic strains and fluctuating material prices.
The newly finalized development consists of four units of four-bedroom semi-detached apartments and four units of five-bedroom fully detached residences, each accompanied by two boys’ quarters. The extensive amenities include generous parking facilities, a central swimming pool and deck, a well-equipped gymnasium, a dedicated transformer and generator, a paved access road, top-notch security, and expert facility management.
Oghuvbu affirmed that the real estate domain remains one of the most significant contributors to Nigeria’s Gross Domestic Product (GDP), but emphasized that increased governmental support is crucial to harness its full potential.
“The government should offer single-digit loans to enhance funding accessibility and streamline title registration processes,” he stated.
He reiterated the company’s dedication to punctual delivery, cost-effectiveness, and value for money. “Delivering value entails completing projects on schedule, within financial constraints, and upholding promised quality,” he added.
Oghuvbu also advocated for governmental encouragement of local material usage and the creation of a conducive environment for industries that bolster the housing value chain to flourish.
