Abuja-based firm Pennek Court Estate is actively addressing Nigeria’s affordable housing challenge by urging the Federal Government to introduce tax rebates for developers. CEO Kennedy Nnadi emphasizes the impact of high land costs and calls for governmental support through accessible land and tax incentives to foster affordable housing solutions.
Affordable Housing Initiative
Pennek Court Estate, an Abuja-based firm, is urging the Federal Government to consider providing tax rebates to developers, facilitating the delivery of affordable housing for vulnerable Nigerians. Kennedy Nnadi, the CEO of Pennek Court Estate, made this appeal during the official opening of the Pennek Court Estate in Abuja. Nnadi highlighted the high cost of land as a significant barrier to affordable housing development and called on the government to make land available for real estate purposes.
Pennek Court Estate is actively contributing to the affordable housing sector by delivering 85 units of houses at affordable rates. The CEO emphasized the importance of addressing youth unemployment and noted that the project has employed approximately 300 Nigerian youths.
As the company progresses with delivering 85 affordable housing units, it concurrently contributes to combating youth unemployment by employing approximately 300 Nigerian youths. Nnadi also highlights the need for a streamlined development process, suggesting a single government agency for housing matters, particularly in navigating challenges like obtaining Certificates of Occupancy (C of O).
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Streamlining Development Processes
In addressing challenges such as obtaining Certificates of Occupancy (C of O), Nnadi expressed the company’s ongoing discussions with the government.
He emphasized the need for a streamlined process, akin to the Treasury Single Account (TSA), and suggested that a single government agency should handle housing matters to enhance efficiency.
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