Soludo vows to sanction Real Estate companies selling land without developing them

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By Madu Obi

Anambra State governor, Prof. Chukwuma Soludo has said that from January 2025, government would begin to sanction real estate companies which engage in sales of land, without development them.

The governor stated this at an end-of-year event organized by a real estate company in the state. Represented by the Commissioner for Housing, Mr Pauly Onyeka, Soludo threatened that such companies would also be delisted.

He said: "Soludo is working hard to limit housing deficit in Anambra State, and we are hoping that real estate companies will complement his efforts and not sabotage it.

Soludo has serious love about people having their own houses. What is key is that there are many real estate companies in Anambra, but by January we will wield the big stick and we will inspect what people are doing in that sector.

We want them to be real estate developers and not just land sellers. Many people just set up companies and they sell land to people and walk away, without thinking of how that land can be developed.

People just sell land without development, but we want people to focus on developing estates and this is the way we will develop the state. You are here as real estate developers to help government develop the state and not just to sell land.

The governor is helping real estate business by creating roads to places where people would ordinarily not want to go to. He is creating roads there and this is making the real estate industry thrive, as the cost of land in such places shot up.

Today, if you buy land in Anambra, you are making huge investment because very soon Anambra will be the most developed state in the country, but we will not accept people just selling land, whereas our target is to have them developed."