A property and construction firm, Eastern House Development Limited, has unveiled an innovative but disruptive approach to real estate development in the country.
Chairman/Group Managing Director of the firm, Nuel Chinedu, said its interest in agricultural real estate, aims at exploring how real estate development could be metamorphosed into producing the need of agriculture in commercial quantity.
Speaking to newsmen in Enugu, at the weekend, Chinedu noted that the model was a deviation from the traditional construction style of residential and commercial housing.
He stated that previous studies on agricultural development essentially led to intensified effort towards ending poverty and ensuring food security as well as feeding increasing population figure within urban and rural communities.
According to him, these produced several scientific papers suggesting how, why, and when agricultural development plan should be implemented. But, he explained that the limitation of these studies and policy plans was that it focused only on crop science modification, soil development and in extension proposed better subsidies for farmers, tax cuts, ago-allied equipment and dealers; as well as rural road connectivity.
He said: “Obviously, there are herd instinct bias in the Nigerian real estate and construction sector thereby neglecting innovative products that would have driven economic growth and structural balances within urban, rural, and semi-rural areas.
“Agricultural real estate entails the development of ultramodern farmlands and farm settlements, poultries, fish farms, cattle ranch, and other agricultural facilities for rearing of animals and cultivation of crops in commercial quantities. As in traditional real estate sector, agricultural real estate tends to provide homes for rearing animals in a gated distant estate to improve nations’ agricultural output and boost food security.”
Source : The Sun