Developer Laments Incompetence in Real Estate Sector

The President, Perfection Real Estate, Mr. Niyi Adeleye, has blamed lack of competence for the panic expressed by potential investors and customers in the sector.

He said this during the allocation of plots of land to the company’s customers at the Perfection Estate, Ibeju Lekki, Lagos on Saturday.

Addressing journalists on the sideline of the event, Adeleye explained that most of the cases always reported as fraudulent in the industry were usually caused by the lack of professionalism on the part of the real estate officials.

According to him, the real estate sector requires a high level of professionalism and competence on the part of its players.

While assuring customers of the firm’s increased transparency and diligence in handling transactions, the real estate expert warned them against patronising quacks.

He said, “We feel satisfied that our vision is being fulfilled. We have been able to overcome most of the challenges in the industry and we are now doing well. The real estate has a lot of intricacies and in most cases, it is not as if people are dubious; they only lack the required competence.

“Some people do not even know what to do before buying a land and planning to resell to customers. There are key enquires to be made and that required diligence. I am not disputing the fact that some dubious people exist but in most cases, it is the challenge of competence; many people do not just have the capacity to handle the challenges in the sector and that is what causes panic among customers.”

The Onilekki of Lekki, Oba Olumuyiwa Ogunbekun, who presented the allocation certificates to the land owners, advised players in the real estate sector against illegality.

He commended Perfection Real Estate for assisting the Nigerian government to solve the challenge of housing in the country.

“If you do the needful, you will not be cheated. I believe that we still have genuine people in this industry and I only associate with those I consider to be genuine and transparent. This is a good development. It is good that initiatives like this are coming up to help the government to solve the challenge of housing,” Ogunbekun stated.

One of the beneficiaries, Dr. Abideen Okikiola, said majority of them were initially sceptical about investing in the land, adding that they began to develop confidence when they were informed of the allocation.

 Source: Punch

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