The “Operation 7.000 houses” aims at developing the housing sector in the South West by real estates developers.
Real estate promoters of the South West have been called upon to create a convenient environment in which adequate solutions will be developed to meet-up with present housing problems. This was during a recent meeting on the development of the housing sector in the South West Region by real estate developers. The Secretary General at the South West Regional Governor’s Office Tendong Anderson, in chairing the ceremony, elaborated on government’s efforts to create a boom in the real estate sector. Among these is the creation of the Cameroon Real Estate Company (SIC), Credit Foncier du Cameroun (CFC), and MINDUH (Ministry Of Urban Development and Housing).
Tendong Anderson explained that the real estate sector in the South West has a negligible impact because it is handled mostly by operators of the private sector who rely solely on banks for financing. The government on its part has liberalized this sector and promulgated laws on real estate promoters. In addition, he said, government’s main concern now is to support field studies, local initiatives and technical projects through the decentralized services of MINDUH. Tendong Anderson concluded that participants should “work out strategies in the mounting of such studies and initiatives that will revitalize the architectural transformation of our urban areas.”
Chairing discussions, the Regional Delegate MINDUH, Oben Francis Essie, explained that the meeting was geared towards encouraging and motivating real estate promoters in carrying out their profession effectively. He revealed his Delegation’s goal of building 7.000 houses within three years. The meeting, he said, aims at bringing together real estate promoters to brainstorm on projects and their source of financing.
Oben Francis Essie equally enumerated some challenges faced by the real estate sector like the lack of an urban development agency, well planned houses, etc. He recommended participants to support field studies and project execution.
The interactive session was based on how to better network real estate promoters, facilitate loan access and most importantly, the provision of land. As such, participants unanimously agreed that in two months from the present meeting, mayors and traditional rulers should identify land space. Meanwhile, banks were accredited with the revision and provision of accessible loan acquisition procedures. Lastly, the services of water and electricity suppliers were charged to accompany executed projects with adequate supplies.
The meeting regrouped stakeholders from various different services. Buea, Tiko and Limbe Councils’ Mayors, the Regional Delegate of State Property and Land Tenure (MINDAF), CDC, SONARA, FAKOSHIP, CDE/SNEC and AES/SONEL, Credit Foncier Du Cameroun (CFC), FEICOM and private real estate corporations’ members participated in talks.
