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Firm promises to deliver affordable housing through flexible mortgage facility

By Gabriel Ewapu

BSTAN Homes, an Abuja-based real estate development firm, has expressed worry over the huge housing deficit of 35 million in the country coupled with poor mortgage system and high rents. The Managing Director, BSTAN Homes, Bekky Damilola-Oke, who expressed this concern in Abuja last week, said the firm is passionate about assisting government in providing mass housing for Nigerians.

According to Damilola-Oke, challenge in the sector has been inability of Nigerians to access mortgage loans, thereby causing rents to remain high, and subsequently resulting to unoccupied buildings in abundance across the country.

Damilola-Oke fumed at some developers who fail to consider the economic realities Nigerians are struggling with, by building housing types that are not affordable to particularly low income earners.

She also disclosed that the company has established BSTAN Savings and Loans that would enable people register in their cooperatives so they could access mortgage loans at zero per cent interest rate as members.

She said: “Most families are faced with problems of paying rent or having shelter over their heads, but the moment they can access a good mortgage system with zero per cent interest rate, then you have solved 50 per cent of problems of many Nigerians. This would increase standard of living in the country, reduce death rate, and improve employment.

“BSTAN Homes has the passion to provide affordable and mass housing for Nigerians as the housing deficit has grown from 17 million to 35 million.

“We at BSTAN Homes have taken the bull by the horn to reduce homelessness in the country and develop the sector. We are also now in Ghana to assist the government there to provide its citizens with affordable houses.”

However, she expressed dismay with the way the issue of housing was being treated by those in government. She said successive administrations have not done much to help Nigerians access houses and the pressure has become much on them as they grapple with other issues in their lives.

Meanwhile, the firm has unveiled its new corporate headquarters in Abuja, and it was commended by dignitaries who were present, and called on the government to partner with BSTAN Homes to provide Nigerians affordable houses.

One of them, former Speaker of the Ekiti State House of Assembly, Rt. Hon. Olufemi Bamishile, urged government to partner with the firm to provide decent and affordable houses for Nigerians.

He also commended the firm for its effort over the years to make life bearable with cheap accommodation plans for all strata of Nigerians including the downtrodden to become house owners with no stress.

He said the company’s mortgage facility and policy remain great because it provides all categories of people the opportunity to own houses.


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