Kingsley U.N. Chikwendu —
The Publicity Secretary of the Real Estate Developers Association of Nigeria (REDAN), FCT Chapter, Dr. Nnenna Susan Njoku yesterday in an interview with Viewpoint Housing Media said that technology and innovations are key to sustaining the real estate sector in 2022. She also said that the coronavirus pandemic (Covid-19) made many realize the importance of a home, adding that despite the surge in coronavirus cases, the housing industry still had growth.
“For the real estate sector to effectively work well, there is need for real estate developers and the nation at large to understand the importance of technology and innovations, Nnenna said.
“You must keep bringing new things. Let me give you an example, before now, you can just build a house and move in but, recently, you see developers going to other countries to see what their counterparts are doing – like smart and ventilated homes whereby, with or without air-conditions, you can live comfortably with added sustainability, because of the nature of technology.
“Technology has actually gone haywire, because of that, I can tell you with the innovations of it (technology), we have smart houses where you don’t have to get up from the bed and close your curtains, you don’t have to go far. For instance, if you are living in a duplex, you don’t have to go down to turn off your lights. These are parts of technology, you can just stay beside your bed and turn off the whole lights in the house.
On highlighting the awareness that Covid-19 had on many, not just in the country but, beyond, Nnenna, who is also the Managing Consultant of Kamsomarvy & Co Ltd, a building construction company said “a lot of people projected a total crash with the outbreak of Covid and the subsequent lockdown. One of the papers I wrote in 2019 during the lockdown, I told them that it is going to bring about growth in the real estate sector.
“Covid came and made a lot of people realize that there is no place like home because, a lot of persons were on the streets and saw the need to move into a house, a place called home. They realized the importance of having a home.
“The real estate sector actually did well in 2021 because, from the information I gathered, there was 3.85 percent increase in the total growth rate of the sector across the nation and even the globe.
“In as much as Covid in other areas skyrocketed, the real estate sector was stationed and things were working. Even in other countries where it was really on a high and killed many, I can tell you that housing did well because people still needed a house to live in”.
You can watch more of this interview on our housing program, ‘Housing Hub’ on Trust Tv, Channel 164, coming up on Friday.
