Experts Warn China, Japan Housing Deals Must Protect Local Builders
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Foreign-backed housing deals could help Nigeria build homes at a much faster pace. But industry experts warn that without local developers at the centre, the deals could hurt the very industry they are meant to strengthen.
Nigerian property stakeholders are urging the Federal Government to ensure that major new housing partnerships with Chinese and Japanese firms are structured to empower local builders rather than sideline them.
The caution comes following Public-Private Partnership (PPP) mass housing and smart city proposals submitted by foreign firms, including China Hyway Group Limited and Japan's Chodai Company Limited, to help address Nigeria's housing shortage.
Industry experts note that local builders have the technical expertise to execute large-scale developments but face severe hurdles due to high domestic interest rates, whereas foreign firms access capital at significantly lower costs.
Developers and town planners stress that international partners should focus on providing affordable financing, engineering support, and technology transfer, while local firms lead project execution.
Stakeholders also warn that projects must prioritize middle- and low-income areas with proper roads, schools, and utility links—rather than focusing exclusively on high-end districts—to deliver long-term value to the housing market.
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