Sanwo-olu made this known at the African Real Estate Conference and Awards with the theme “Bridging Investment Gaps in Africa’s Real Estate Markets for Sustainable Growth” Wednesday at Landmark Conference, Victoria Island, Lagos organised by PropertyPro.
He said that shelters remains one the very important needs of man and a critical factor that determines quality of living.
He noted that in all major cities of the world, especially those with challenges of rising population, provision of affordable shelter and bridging the deficits in the housing sector is both a social and economic issue.
He stressed that bridging the hounding deficit as we have it today is not a responsibility for government to shoulder alone. The investment required is huge and can only be provided by the private sector.
Sanwo-Olu said “we are willing to partner with the private sector to meet the housing needs of our growing population which is excess of 22 million people. Our focus is the development of sustainable urban settlement with adequate infrastructure for decent living”.
He further said that the challenges become more pronounced with growing urbanization as a result of migration of people from rural areas seeking economic opportunities.
“A number of steps have been taken in the past to develop appropriate and sustainable solutions in partnership with the private sector. What is clear is however, considering the increasing needs of affordable and decent shelter is that the desired objectives are yet to be met”.
“The situation at hand therefore calls for a review of existing policies and strategies with a view to aligning them with current realities and policy objectives”, he said.
Sanwo-olu added that part of the issues which he believes are germane to achieving sustainable growth in the housing sector include the development and sustenance of a modern mortgage system, development of appropriate technology in building construction as well as use of local materials.
In his words, the Chief Executive officer, PropertyPro.ng, Fikayo Ogundipe said that the conference is designed to proffer solution to real estate issues, acknowledge, encourage and celebrate excellence among Africa real estate stakeholders by given them the opportunity to gain valuable exposure and well-deserved recognition for their national and global achievement in the real estate sector.
“AFREECA 2019 is a platform for deliberations on concrete solutions regarding formation and implementation of effective investment ideas, and policies that will serve as motivation to interest individuals who have help reshape the development and growth of the African real estate market”, he said.