Governor Babajide Sanwo-Olu on Tuesday promised developers in Lagos 50 hectares of land for construction of housing units, as part of efforts to reduce deficit in the state.

Mr Sanwo-Olu made the pledge at the opening of the second edition of the Lagos State Real Estate Marketplace Conference and Exhibitions.

In reaction to developers’ demand for land, Mr Sanwo-Olu said the major problem was that a lot of developers did not have the capacity they claimed to have.

“We can test you with 50 hectares of land to see your capacity and viability abound.

“A lot of people are holding on and speculating, but the real capacity are the ones that we want. Real people that are ready to hit the ground running are what we want.

“Once you are able to identify these people, I am saying to you here now, that we will work with your association and we will give you workable timelines so that you won’t turn us into speculators,” the governor said.

Reacting, Bamidele Onalaja, chairman, Lagos state chapter, Real Estate Developers Association of Nigeria, said the association was delighted with the offer.

“There is little land in Lagos and that is why we want to partner with the government. Government will give us land, we have the money and we’ll get the off-takers to buy the houses.

“It is going to be affordable houses to support the government’s initiative of affordable housing. We are glad the governor has promised us 50 hectares of land to start with,” Mr Onalaja said.

According to him, members of the association will not disappoint the government in its efforts towards reducing the housing deficit in the state.

“When the government partners with us, we will deliver and we will make the governor proud,” he said.

The conference was attended by over 2000 key players and practitioners within the real estate and Housing sector.

(NAN)