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Why Women Should Participate in Real Estate Development

The role of women in home building cannot be overemphasized. They take real charge of the home front when the men are not around. They do this very well. Yet, just a few women invest their home building skills in the real estate sector. Thus, women have been advised to participate in the nation’s real estate sector in order to meet their growing needs and guarantee family’s future.

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Leading the call at a seminar themed: “Essentials for Success in Real Estate Investments” and organised for Women by Knightstone Properties Limited in Lagos, former Attorney General/Commissioner for Justice, Cross River State, Mrs. Nella Andem-Rabana urged women not to see themselves as incapable of getting involved in the sector rather she said they could come in through cooperative societies.

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Abana said by nature, women are adequately equipped to exercise an effective influence hence, they must find a need they could meet in the housing sector just to kick-start as a participant, but with the mindset of growing to become a major player and investor in real estate. Also the Chief Executive Officer of TrustBond Mortgage Bank PLC, Adeniyi Akinlusi hinted the bank’s plan for an initiative for women and the youths, which would boost investment opportunities in real estate and other businesses. He, however, advised that it is, however, better to start with a personal capital, to mitigate risks that could ensure as starters.

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Akinlusi regretted that most Banks don’t lend money during the recession because of a higher rate of default pointing out that they could source for funds through Nigerian Mortgage Refinancing Company and Federal Mortgage Bank in particular, which offers a consistent six percent interest rate.

While charging women to be open-minded for investable opportunities in real sector in their environment as well as seek a partnership to pursue their participation, he expressed optimism that once the underwriting standard scale through, Mortgage banks would be able to increase their lending to those who are interested.

CHECK: PROPERTIES FOR SALE IN LAGOS

For the team lead, Women Banking, Access Bank PLC, Ejike Izejobi, participants should explore some of the gender sensitive packages aimed at assisting the financial needs of women and their lifestyles. Some of these packages, he said to include; Savings need capacity for women through workshops and seminar where necessary skills are given, savings for financial women and maternal health family support amongst other.

Also the company’s brand ambassador and Nollywood actress, Bukky Wright advised women not to be challenged by the fact that the sector was a male dominated endeavor, saying women have what it takes to succeed in any sector just as she succeeded as a film producer in a male dominated world.

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Meanwhile, the company has also has kicked off a new strategy aimed at making low income-earners and the middle-class, homeowners.Speaking at a launch of its corporate identity and unveiling of its brand ambassador in Lagos, Adams said, the company is looking at affordable housing from two different models; first the angle of the actual cost and second; the angle of payment flexibility.

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According to him, the two must combine to make houses affordable to both low-income earners and middle class, hence the decision to give people the opportunity not only for flexible payment but to finish their houses at their own pace from carcasses and shell structures in order to reduce cost.

On how a developer can survive the current economic recession, Adams said there was the need for developers to reconsider the cost-benefit analysis of products they offered, particularly with regards to the way the products are being presented to the public, stressing that housing scheme must be a social contract between the people and the government.

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Source: Guardian

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