Nigeria's growing housing deficit currently estimated at about 20 million, makes the sector attractive to both local and international investors. This is the view of High Chief Dr. Ikem Osita Nwabueze CEO Kemchuta Homes Limited, whose firm has helped over 1500 ordinary NIGERIANS become Landlords in Lagos.
Please sir, kindly tell us about yourself?
My Name is High Chief Dr. Ikem Osita Nwabueze, a proud native of Ogidi in Anambra State. I am also a strong believer and crusader of equality, justice, excellence and posterity, these are the factors that fuels my every day endeavors.
What are the aims and purpose of establishing Kemchuta Homes Limited and how are you affecting the real estate sector in Nigeria in that regard?
As a person driven by principles such as equality, excellence and posterity, when I witness disadvantage people lacking basic amenities of life such as shelter, it breaks my heart. Research shows that Nigeria our nation is facing a housing deficit, and I said to myself I would make a difference, and screw business as usual - according to Richard Branson of Virgin Atlantic Airlines.
I developed a strategy of setting up a business that allows people to become a landlord at an affordable price and paying at their convenience at over 12 - 36 months respectively. But I also realized that there are persons with no means including education to stand advantage, or means of acquiring landed properties or building houses, so I came up with the strategy of real estate marketing that could help people earn life changing wages for referring real estate investors.
"To the glory of God alone, I have succeeded in empowering over 5000 Nigerians to be self employed and beneficiaries who earn over N500,000 Monthly and the records are verifiable, and again to the glory of God alone, over 1500 Nigerians are now Land owners."
You were recently bestowed with an honorary doctorate degree by the European-American University, Panama, how do you feel about this?
There is an Instagram user with the name Kathrin Zenkina - if I am not mistaken, she said and I quote “There are people who are watching you & they are watching you because YOU are their inspiration! You are their light in the dark. You are their GPS system on their path to their goals. They look up to YOU. And you might not even know it. But that doesn’t mean they don’t exist".
The silent supporters are the most powerful ones. I see this doctorate degree from the European-American University as a way the universe is encouraging me to press on with the good work. To God almighty, I am eternally grateful, to my family thank you through thick and thin, it gets really tough sometimes I am only human, to my silent supporters thank you for recognizing my little contribution to make this world a better place, and to European-American university thank you for listening to the people who nominated me for such prestigious honour..
Kemchuta is moving up very fast in the Real Estate world, tell us, what is the company doing right?
Real estate is a tough line of business, this is common Knowledge, but against all odds we try to give our partners and investors reward for their hard earned money.
"As the chief Executive officer I go over and beyond to foster hope on everyone that encounters Kemchuta Homes Ltd that they too can be a Landlord in their lifetime."
Tell us about some of your unique products
Every Kemchuta Homes Ltd real estate products are unique, because every project we embark on we as a brand consider our clientele and investors first, and carefully we have ensured and certified that all our projects have potentials to reward investors with maximum returns on investments, the locations of our projects are carefully chosen, bearing in mind purpose and the future.
What are the assurance you are giving to those who will love to buy properties from you and other would-be-clients?
Our guarantee to our investors and clientele is that, they should be rest assured they will get maximum value for their investment, we go all the way out to bridge every sort of eventualities but like they say “NO MAN IS GOD” but even at that...
we guarantee to walk side-by-side with our clients till they get the rewards due to them, they have trust us with their sweat and blood, our duty is to put smiles on their face for that, there is never a sad story with Kemchuta Homes Limited go and verify.
As at the time of this interview, we have over ten Estates, Laverna Gardens Estate, Kingsville Phase 1 & 2, Kingsville Annex, Kings Ocean view Estate, Queens Ocean view Estate, Northland City Estate, Elegant Homes Estate, Twins City Estate Phase 1 & 2, KHL Founders Estate, and more.
From your experience, what are the most challenging aspects of being a real estate developer in Nigeria?
The truth is heavy, but we must say it just as it is, The most challenging aspects of being a real estate developer, is Government bottle-necks and bureaucracies , processing title documents such as C-of-O’s takes ages, getting building approvals and other approvals takes ages, resolving land disputes takes ages, and investors understanding this pertinent issues, and lastly funding.
what is your opinion on the growing housing deficit in Nigeria currently estimated at over 20milliion?
Look at the developed nations from the spectrum of industries, Technology, commerce, you name it, it has never been achievable by just the government alone, private investors must come onboard to tackle this issues.
" I always sound it to people that to every problem, there is an opportunity in disguise, the housing deficit in Nigeria is a big opportunity for private investors and governments, that is all I can say. "
Think about it, among the basic needs of man reviewed by NASA is Food, water, air and shelter, regardless of circumstances man must need this things listed.
Do you think the governments, developers and mortgage institutions are doing enough to tackle housing issues in Nigeria?
What’s your forecast on the housing situation in Lagos by
2050?
If posterity is in anyway a predictor of the future, and if we consider for instance the level of infrastructural development and the influx of foreign investors between 1979 to 1983 that Lateef Jakande ruled Lagos state and then we consider the developments in Lagos state as we know it today and then we consider 30 years from now, considering the housing potentials of Lagos state, all I can say is that the real estate industry is a goldmine for real estate investors, ranging from land banking to housing,but it is imperative the government get things right.
As an experienced realtor which three locations in Nigeria will you advise your client to invest in view of the highest ROI in nearest future?
That will be Lagos, Anambra, and Abuja Thank you.
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