Government Intervention needed in Real Estate Sector -Ikechuckwu Ujomu

The CEO of LuckyBay Homes, Ujomu Lucky Ikechukwu has joined the voices clamoring for more government investment in the housing sector of the country. He made the call recently when some notable stakeholders in the Lagos property market gathered to celebrate his birthday in the first week of July.

He started from a humble beginning as a real estate broker in 2009 but has come a long way and is well-regarded by his colleagues in the property market as a go-getter. The property development firm that he founded in 2013 when he embarked on developing two five-bedroom duplexes has blossomed into an active real estate firm that is developing properties in Lagos and Abuja.

According to him, “Government cannot continue to ignore the housing problem in the country. The sector has been driven for a long time by private-sector developers and investors. It is high time the government intervened with tenable policies and funding to help tackle the affordable housing problem facing the masses.”

He further asserted that private developers have been making steady contributions to the real estate sector over the years. He made an example of the Lekki Palm City Estate, newly completed by LuckyBay Homes Limited in the affluent neighbourhood of Ajah, Lagos, while also noting that the firm is working on expanding its current operations outside of Lagos and Abuja.

Ujomu Lucky Ikechukwu, 47, a native of Oshimili LGA, Delta State, was optimistic that the real estate sector will continue to add significant value to the country’s GDP, saying, “In boom or bust, real estate is a viable sector. We have seen the steady expansion of the Nigerian property market over the years with more people getting employed in the sector.”