The Abuja Chamber of Commerce and Industry in partnership with the Africa International Housing Show are set to embark on a programme that offers access to housing statistics and property information related to sales, rent and acquisition through documentation.
Parties in the partnership said the programme, tagged “Property Expo”, would keep the government and citizens abreast of needful information about property status, sales, and acquisition in the country especially the Federal Capital Territory.
The Chairman, Board of Trustees, Real Estate Developers Association of Nigeria, Oluseyi Lufadeju, said the idea of the Expo was part of the duo’s commitment to aid, grow and promote property documentation in Nigeria.
Lufadeju in a statement issued in Abuja by the ACCI, said the initiative was different from previous Expos and would help create awareness, sensitise FCT communities and enlighten professionals on what was available, as well as areas that needed improved infrastructural attention.
He said it would also provide property rating recommendations to the government to avoid rating imbalance.
The REDAN chairman was quoted as saying, “The Abuja International Housing Show as well as the Abuja Chamber of Commerce have been brought together to collaborate and to find a way of documenting the properties in the various communities in Abuja.
“This will be in such a way that we will have an idea of these properties in the residential areas to know what type of units are there, the materials from which they were were made of, how old the properties are, dimension of the structures, value of the properties when they were first constructed, and what the current rental and sale values are.
“It will provide a lot of information to the housing sector that you can know the appreciation or depreciation of properties from time to time. We want to do an Expo that will give Abuja residents, either people who want to rent, sell, or buy properties a good idea of what they are trying to buy or what they are dealing with.”
Lufadeju observed that aside from the documentation of existing properties at the time the structures were approved, there seems to be no subsequent information about them.
He stated that the Expo was not limited to the FCT, as the effort would be replicated in other parts of the country on successful completion of the first phase in Abuja.