and Chairman, Ogun IRS, Mr. Olugbenga
Olaleye
| The Daily Crucible | Sunday, November 13, 2022
A leading real estate firm, Pelican Valley Nigeria Limited, has expressed the need for legislation on real estate entrepreneurship in Nigeria to ensure efficient management, quality service delivery and customer's satisfaction.
The firm which is behind Pelican Valley Estate, Pelican Brief Estate, Pelican Ecostay Apartments and Pelican Green Acres - all in Abeokuta - Kobape axis of Ogun State, urges President and Governors to send Bills to the country's Federal and State lawmakers respectively for laws providing for maximum number of estates a realtor can own or run at a given time.
It noted that real estate business is capital intensive and requires adequate time for close monitoring and supervision, expressing the concern that efficiency in management, quality service delivery and customer's satisfaction may be compromised in a situation where a single individual runs over 10 estates as observed in parts of Nigeria.
The Chief Executive Officer of Pelican Valley, Dr. Babatunde Adeyemo, who made this known when youths - based organisation visited him days ago at the firm's corporate office in Abeokuta, the state capital, said an ideal number of estates one could own and optimally manage given the Nigeria's economic indices is two or three and at most four.
According to him, any realtor operating estates exceeding four surely cannot guarantee or meet the standards of modern estate in terms of infrastructural needs, management and quality service delivery.
"Sometimes, real estate goes beyond investments. The real estate business we practice in Nigeria requires legislation. If I were to be a President or Governor in Nigeria, I will send a Bill to the lawmakers to legislate that an average estate entrepreneur should not have more than two or three or four estates because real estate is highly capital intensive.
"Some state governments with the huge budgets they have, might not be able to manage four or five estates because of how capital intensive it is. Infrastructure is not cheap but in Nigeria you see someone having 20, 30, 40 estates. How do you manage that ? All my estates are in Ogun State, I have been going there almost every day in the last 10 to 15 years. Now, imagine If I had other estates in Abuja, Kogi, Port - Harcourt and other places."
Adeyemo, who has been adjudged the 'Poster Boy of Real Estate' in the Gateway State by relevant government agency because of his insistence on due process and commitment to the principle of 'build right,' has disclosed the company's readiness to assist its clients address the challenges of obtaining building approval permits.
Citing a 'Letter of Offer' dated November 12, 2022 by the company's Director of Operations, Mr. Ifeoluwa Daniel, which shows Pelican Valley's resolve in that direction, the realtor said the decision became necessary following complaints by clients of delay while trying to perfect their building approval permits with the relevant regulatory authority.
The letter as seen by The Daily Crucible read in part, "The Management of Pelican Valley Nig. Limited has met and agreed to assist every willing client in facilitating a speedy obtainment of their Building Approval Permits within Seven (7) working days and to enable such concerned client carry out effective and smooth construction work on their land in our estates.
"Kindly take notice that the Management is also willing to assist any client who has misplaced his/her document(s) and re-issue another one with little or no cost."
He urged clients to avail themselves of this unique offer, stick to due process and cooperate with the management to serve them better and speedily.
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