Developers of the Eko Atlantic City Project have described the need to tackle housing deficit in Nigeria by bridging the Gap with infrastructure project to address the complexity of housing deficit problems adding that this would Reflate on the economy and lead the gateway for emerging markets.
The property experts disclosed this during a facility tour of the EAC project in Lagos organised by South EnergyX Nigeria Limited, a subsidiary of the Nigeria-based Chagoury Group of Companies working in Partnership with the Lagos State government to bridge the housing deficit gap in Nigeria.
Speaking with Journalists in Lagos, Managing Director, Southern EnergyX Nigeria Limited, Mr. David Frame, said the Eko Atlantic City project is designed to meet international standards, adding that the project would help to address the challenges of housing deficit, “while following the principles of construction with best global standards.”
He said; With two periods of economic recession in Nigeria, the EAC project is committed to bridging the infrastructural deficit by deploying strategic structures to tackle the huge deficit gap to build massive infrastructural projects that would reflate on the economy.
He hinted that the project has thrived for a period of 18years since 2003 and had witnessed two periods of economic recessions.
Frame stated that the focus of the project was to bring the attraction of tourism and investors to the emerging market of Nigeria.
He further noted that EAC project is the focal point of attraction for growing businesses with the most strategic address and location to accessing the Nigerian market.
The Southern EnergyX MD pointed out that the project was built to tackle the ecological side of flooding and erosion within the shorelines of Lekki and Victoria Island by protecting these areas from coastal erosion and massive flooding of properties and business areas.
Continuing, he said: “Several opportunities are available for business districts from the trading floors, corporate offices, multinational companies, business headquarters and the central business districts with a focus to attracting global trading for commercial, financial and retail activity in the state.
While stressing that the development will facilitate the economic linkage of businesses and market operations within the state.
Frame espoused that the businesses operating within the Eko Atlantic Metropolis would benefit from 21stcentury housing infrastructure, transport access, good road network with a strategic partnership to strengthen business corporation to capitalize the potentials of sub-Saharan Africa.
Reacting, Chief operating officer, North Court Real Estate, Ayo Ibaru, said with a housing deficit of 17million in Nigeria there’s an urgent need for affordable social housing for investors, developers and financiers to plug in to ensure a win-win solution for everyone.
In his reactions, Ibara said Nigeria is underestimating the size and complexity of housing deficit problem as a country, adding that the government needs to establish a framework under which affordable housing components can play.
Also, CEO Alpha Crux Limited, Tobi Adama, said infrastructure upgrade should be taken into consideration in Nigeria with a special focus on Lagos as an overpopulated city.
He suggested that as we are tackling housing deficit, we should also be tackling infrastructure deficit.