FCT Land Reform: A Boost for Abuja’s Housing Sector
An Abuja-based real estate developer and Chief Executive Officer of The Cape by Hall 7 Estate , Mr. Olayinka Braimoh , has praised the ongoing land reform initiative by the Federal Capital Territory Administration (FCTA) . Speaking at the unveiling of The Cape Estate in Apo District on Friday, Braimoh emphasized that the reform will protect investments in Abuja’s housing sector while targeting illegal activities by land traders masquerading as estate developers.
Protecting Legitimate Investments in Real Estate
Braimoh highlighted that the land reform is a significant step toward ensuring transparency and accountability in Abuja’s real estate market. He noted that many individuals and entities claiming to be developers are merely land traders who exploit loopholes in the system, leading to issues such as illegal land sales and unauthorized constructions.
“The current land reform is a welcome development. It will help to address the challenges faced by genuine investors and protect those who are committed to delivering quality housing solutions,” Braimoh said.
He added that the reform will also curb incessant demolitions caused by non-compliance with due processes. Many victims of demolition, he explained, failed to secure proper documentation or follow established procedures before embarking on construction projects.
“When you talk about demolition cases, it is because they didn’t follow due processes. There are laid-down processes, and I am sure we have all seen the reforms that are taking place with the current land reforms in the FCT, which is a welcome development. I think that will address the issue of demolitions and all of that,” Braimoh stated.
The Cape Estate: Redefining Housing in Abuja
During a tour of The Cape Estate , Braimoh outlined how the project aims to redefine Abuja’s housing sector by providing a unique living experience. Situated on 20 hectares of land and designed to accommodate over 371 housing units , the estate offers a serene environment tailored to meet customers’ demands for comfort and peace of mind.
“What we are doing is a complete direct development. The Cape by Hall 7 is a concept development that we put together for those looking for comfort and a peaceful environment. We develop and design our recreation around the stream here, which is why we call it ‘The Cape,’” Braimoh explained.
He expressed confidence that the estate would surpass previous projects his company has undertaken, stating, “We have handled a lot of real estate projects, but you can be certain that this will be better than anything we have done in the last decade.”
Addressing High Housing Costs and Citizens’ Fears
Braimoh also addressed concerns about the high cost of housing in Abuja and citizens’ reluctance to invest in land due to fears of demolition. He attributed these fears to the lack of adherence to proper processes and inadequate documentation.
“Majority of the victims of demolition did not follow the process of acquiring the land, neither did most of them secure necessary documents before embarking on building structures. This is where the land reform comes in—to ensure that people follow the right procedures and eliminate uncertainties,” he said.
The land reform initiative by the FCTA is expected to streamline land acquisition processes, reduce illegal activities, and restore public confidence in investing in Abuja’s real estate market.
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