The Chairman, Federal Capital Territory(FCT),chapter of the Real Estate Developers Association of Nigeria (REDAN), Osilama Emmanuel Osilama, has called on the real estate developers to re-strategise and embrace direct labour for them to survive the effect of the Covid-19 on their business.
Osilama, who is also the Chief Executive Officer (CEO) of Nuel Osilama Global Investment Limited, spoke in an interview in Abuja recently.
He said: “The Coronavirus pandemic has disrupted the usual business, market plans and profits. Everyone has to create their own innovative ways of doing business. The pandemic has really slowed down business results because right now patronage is very low.
“A lot of people today are just saving for survival; we have a low number of people going into home ownership now except those who have adjusted completely.
But,for a very few developers, it is the year to make money because they are innovative and have taken advantage of what others are crying over, may be, they already have a ready market and everything is going well for them.
“But for most of the developers in a place like Abuja where the government`s policies determine market forces, it will be very good for experts in the sector to think so well,plan and strategise before they can really doing any thing .
“What I expect developers like me to do now,is to look at how they can apply direct labour to their construction work in order to cut their cost of production, with that, their finishing cost can be low thereby reducing their final market price to a reasonably cost .
“We know that everything boils down to availability and affordability, if people can’t afford the houses at the end of the day, the finished products will just be there. So, experts have to look for measures to truly cut their cost of their production”.