Stratech properties launches home ownership for doctors, others

By Tobias Lengnan Dapam

As part of its contribution toward helping to reduce the housing shortage in Nigeria, Stratech Properties Limited, a real estate brokerage company, has launched new home ownership products for doctors and other critical off-taker groups.

In his address during the products launch which took place at the company’s stand at the just concluded 15th Abuja International Housing Show (AIHS), held in Abuja, July 26-29, 2021, the MD/CEO of Stratech Properties, Amb. Moses Kolawole Obisesan, said that, “I specially recognize and welcome the top officials of the leading hospitals across FCT, the senior executives of banks and other financial institutions, and other top government functionaries to the Official Products Launch of Stratech Properties Limited, taking place here at the ongoing Abuja International Housing Show.”

“We are here at the show today to officially unveil new products targeted at three critical sectors: “Home Ownership Scheme for Doctors & Other Professionals”, “Home Ownership Scheme for Bankers & MSMEs”, and “Home Ownership Scheme for Civil & Public Servants. These products, designed specially to meet the housing requirements of doctors, bankers, civil servants, and other professionals are a part of our overall vision for home ownership across the federation tagged, Project 1,000,000 Homes in Nigeria.”

At the product launch Amb. Obisesan added that, “When Nigerian doctors and other professionals in the medical sector are able to buy their own house here at home, it is a huge incentive for them to continue to serve in the country, rather than emigrate abroad, taking along with them their highly valuable training, expertise and experience. Several doctors in various medical establishments across the FCT have already taken advantage of this product, and we look forward to expanding it to many more in the weeks and months ahead.”

The President, Association of Catholic Medical Practitioners of Nigeria (ACMPN), Dr. Matthew Ashikeni, who was a special guest during the product launch said, “Promoting home ownership for medical doctors on an extensive scale is long overdue in this country. This initiative, if well handled and implemented, could therefore be a major boost to the overall welfare of doctors, whether in public or private practice.”

Obisesan explained that, “Project 1,000,000 Homes in Nigeria was inspired by the fact that Nigeria has a huge housing deficit which is growing by the day. The project was conceived and designed by Stratech Properties Limited back in 2019. We plan to use this mass housing ownership scheme to deliver the key of 1,000,000 homes to Nigerians, at home and abroad, over the next 10 years.”

“We did a test run of this project in 2020 (in spite of Covid-19), and we are convinced about its great potential and our ability to drive it on a sustainable basis. But we can’t single-handedly bring such a large scale project to reality, all by ourselves. So we have embarked on an extensive stakeholder engagement nationwide to get the buy-in of the public and private sectors. Today, we have over 20 property developers (including some of the biggest names in the industry) in our growing network. We are also growing our off-taker groups as well as various housing finance organization to join our network.

“So far, we have received over N540 million mortgage loan approvals from Federal Mortgage Bank of Nigeria (FMBN) for clients that our company has referred to it during the first year of the official launching of our flagship product, Project 1,000,000 Home, and we are hopeful of securing approval of at least N1.5 billion mortgage loan from FMBN this business year for our prospective clients.”

Obisesan concluded that, “As we continue to focus on real estate brokerage, connecting profiled off-takers with dependable developers and competitive funders for a seamless home ownership in Nigeria, we believe that we are most strategically positioned to advocate and push for Nigerians to own their homes in far larger numbers than ever before.”