Bridging the Housing Deficit

Given his passion to bridge the housing deficit, as well as his contributions to the real estate sector, the General Managing Director of LAC Construction and Property Development Company Ltd, Dr. Chikelo Ejikeme, was recently honoured with a Doctorate Degree by the European-American University in Commonwealth of Dominica/Republic of Panama, Chiamaka Ozulumba reports

Shelter is one of man’s most basic needs and as Maslow puts it, it represents the human’s physiological needs as the base of a triangle to show that meeting these needs are the most important in our lives.

Corroborating this in a research paper, Professor Akpan Ekpo noted that “provision of adequate and quality housing units is one of the roles of any
government since housing is one of the human fundamental needs. This indicator signifies, among other factors, the standard of living of a country’s populace. It can also be used to measure the economic viability of a nation.

“Housing deficit, when left unabated, could lead to increase in crime, outbreak of diseases, unaffordable house prices, poor standards of living as well as high mortgage payments. Due to this, the United Nations (UN) advocated for the
adoption of Goal 11 globally. Goal 11 was targeted to capture a holistic perspective of the housing sector, with a view to achieving quality and affordable housing units for all by 2030.”

Undoubtedly, the housing deficit in Nigeria has been a recurring conversation in the past couple of years. Over the years, individuals and corporate organisations have ventured into real estate to bridge that gap. Give or take, real estate in Nigeria is serious business and lately, the industry has become a gold mine. Little wonder many have tapped into it and are making profit, as well as bridging the huge housing deficit.

This is because Nigerians are always in need of either residential buildings, office spaces, as well as complex for commercial purposes. This perhaps explains why the real estate industry has been ranked as the fifth largest contributor to the GDP.

Passion for Real Estate

In a bid to contribute his quota in ameliorating the situation, Dr. Chikelo Ejikeme ventured into real estate. For the General Managing Director of LAC Construction and Property Development Company Ltd, his passion for real estate is borne out of a need to reduce the alarming housing deficit facing the nation.

Through his real estate company, he has been bridging the gap between the homeless citizens with minimal income/capital base and their rich and comfortable counterpart having a luxury lifestyle in a well-gated estate. Over the years, aside bridging the housing gap between the rich and poor, his goal has been to create calculative opportunities for individual and corporate bodies to own properties in a choice location in Nigeria’s real estate sector.

Essentially, LAC Construction came into existence in 2006 with the major aim of providing affordable homes for people in the society. Its major focus, according to the company’s GMD, is to harmonise, network, and partner various industries and individuals to achieve its development focus.

Operations
According to him, their operations cut across the commercial, e-retail and residential property spectrum, as well as rendering real estate consultancy/advisory services, adding that the soft mortgage schemes on their (houses and lands) range between three to 18 months duration to afford every investor the opportunity to own properties of their own.

Their key derivatives is to develop affordable houses that fit in with ones budget in any location of choice in Nigeria. Essentially, they also develop luxury real estate tailored to meet the needs of the prospective client. Aside incursion into real estate, Ejikeme is a licensed importer of building materials from any part of the world. He also sells, services and provides fire service equipment with quality being their watchword.

But in real estate, the company undertakes the buying, selling, renting or leasing of land or buildings (housing). Currently, they have various estates at various stages of development in the Ibeju-Lekki axis of Lagos. In essence, their portfolio boasts of real estate development, real estate consultancy and advisory, facility management, building constructions/civil engineering, importation, and fire services.

Also property-wise, their role is spelt out. When one needs to purchase an investment property, Highbridge Homes Real Estate and Property Management team will analyse the property and create a plan projecting long term appreciation and a positive cash flow. Whenever it’s time to make a sale, the team of consultants at LAC Construction and Development Limited will then find that qualified investor or buyer.

Garlands

Recently, it was in recognition of his contributions to the real estate sector that the GMD was honoured with a Doctorate Degree by the European American University (EAU) in Commonwealth of Dominica/Republic of Panama. The award posited that it was in view of his outstanding achievements and contributions to the real estate and property development in Nigeria, that he was honored with a Doctor of Science in Estate Management and Property Development on April 25, 2021.

Ejikeme was conferred alongside
Kogi State Governor Yahaya Bello;
Chief Executive Officer of CDV Properties, Development Limited, Chief Charles Mba; and the Founder & Group Managing Director Ziloc Construction Ltd & Zelo Homes Ltd, Mr. Ugochukwu Harvey Igboanugo.

According to the dossier “Mr. Chikelo Ejikeme took the real estate industry by storm over a decade ago, and through his dedication, tenacity, sagacity and commitment, had the opportunity of working with builders, investors, and multinational companies on various projects, such as the construction of roads, high rise buildings, and estates in the rural and urban areas of Nigeria.

” The real estate industry in Nigeria has been challenged by numerous external factors and policies, however, LAC Construction and Property Development Ltd prides itself in the quality of services offered, consistency of services provided, and most importantly, customer satisfaction.”

After he was honoured with the award of Doctor of science (D.Sc.Hons) in Property Management and Estate Development he said: “It is a pleasure to be among those conferred with a Honorary Doctorate Degree by the European American University, Commonwealth of Dominican Republic.

“On behalf of my company, LAC Construction and Property Development Company Ltd, I would like to express my great appreciation to The European American University for this honorary doctorate degree. We are leaving no stone unturned because this requires more work. I am ecstatically honoured”.

Also in his acceptance speech, he reiterated that this award was a testimony of his vision of breaking down barriers and pushing the limit through obstacles in the industry.

“Many thanks to the LAC Construction team for giving me the chance to live my passion. We are indeed “The Yardstick of Excellence”, as this has been evident through a plethora of acknowledgments and awards over the years.

“Thanks to the Real Estate Industry of Nigeria. My profound thanks to the European-American University (EAU) for this prestigious recognition, as this significantly occupies a very deep and revered place in my heart. Special thanks to my wonderful family for their love, support, and the motivation to push harder everyday.”