*Firm comes with new ideas and incentives
In the past seven years, RESSA Plc, an indigenous property development concern has been in the business of actualising the dream of the average Nigerians to own property of their own.
Interestingly, the targeted niche market by RESSA is low-income Nigerians who have been shut out from such privileges by their meagre earning and uncaring public policies.
Initiators of this business thought about the need for the society and sector not to continue to discriminate against low-income Nigerians from ownership of their property or homes.
Looking through Nigeria’s mortgage and housing policies, there are no clear provisions that would assist low-income cadre of citizens to afford housing of their own. The rules require intending property owners to afford a certain amount of money, and being aware that most Nigerians, especially salary earners don’t fall within the economic bracket to afford that, no window is left for them to find a way to this privilege.
The mortgage companies’ conditions make the road strewn with obstacles that the poor can never consider fitting in.
RESSA, therefore, thought of a way around this, inventing a means to buy up spaces, assist common buyers to key in, and assist them in getting financial facilities to develop and own properties. So far, that business with a human face has been working wonders. The commoners are realising a dream that had looked distant and insurmountable.
Chief executive officer of the RESSA, Dr. Festus Ibiam said his mind went to the plight of teachers who are many, render an unequalled professional service, but have no opportunity of affording housing. So, his target market became teachers and other employed and self-employed Nigerians whose resources are as lean as those of the ubiquitous teachers.
So far, RESSA has acquired land spaces of over 500 hundred acres at various stages of acquisition and development. They include
PAC Estates
*Phase 1
*Phase II
*Phase II annexe
*Phase III
*Phase III extension, all located within Owode Oloparun, Ifo in Ogun State.
*RESSA Plc Gardens in Badagry.
Something to add
RESSA’s creative ideas seem elastic with a lot of innovations that aren’t known among other development companies.
Recreation is alien to the concept of the Nigerian estate developer, but RESSA has that in place. Instead of replicating the concrete jungle tradition where every space is built up, RESSA in all its estates has reservations for recreation, tourism and climate-friendly spots left green. These estates will bring to reality the dream of Nigerians to live in a neighbourhood where mothers and fathers and even grandparents can go strolling with their kids and partners under the shade of trees in an ambient environment where beauty is part of life.
There is a reservation in all of them where RESSA will cultivate public parks and relaxation spots, shopping centres, schools, clinics, etc. When you live in a RESSA estate, you are sure to have recreation and health-promoting facilities around you, even for the entire family.
Such a gathering place, in the typical traditional African neighbourhood style, also fosters good neighbourliness, social bonding and security where residents can know each other instead of the machine and gadget world we have started transiting to.
Food security input
Due to the large expanse of RESSA estate acquisition, they think wider on how best to put their spaces to use. Rather than wait and watch lands lie fallow until housing development, the company has come up with new ideas for putting the land spaces, in the interim, into agricultural usage. Very soon, as the rains return in the 2025 farming season, RESSA will roll out fully to convert some swathes of land to farms, with expert guides on the cultivation procedure and best crops to be introduced. These would provide a mini agric park creating a value chain in produce processing. That will be another source of taking care of the needs of lower-income earners who would be gainfully employed. Even those who had already acquired spots of land would be integrated into this food security plan and urged to make an interim use of their land space in food production pending when they will be ready to build.
More ideas coming
At the RESSA Board of Directors’ meeting at the Sheraton Hotel, Ikeja on November 23, the team raised more ideas the company will incubate for the new fiscal and planning year.
While he addressed the Board, the chairman/CEO, Dr. Ibiam appreciated the experts that make up the board for their tenacity in upholding the ideals of RESSA. He tasked them with more business development ideas.
The meeting was attended physically by Dr. Valentine Ojika the secretary of the Board, Chief Adamu Tolulope, a retired deputy Surveyor General of the Federation, Ikenna Emewu, Editor-in-Chief and publisher of Africa China Economy Magazine.
Dr. Felix Nnachi, a security expert and security firm owner and a Ghanaian ambassador, Dr.Kojo Sackey joined online from Canada and Ghana respectively.
The team had a fruitful deliberation and agreed to make RESSA stronger to benefit humanity and make a positive contribution to Nigeria’s economy while planning to spread into Ghana very soon.
