PROPERTY TRANSACTION GUIDE

How To Build A Functional Megacity, By Realtors
Stories by Michael Simire, Houses & Homes Editor

Independent, Monday, 22nd June 2009

The development of a visionary development approach through policy preparing has been identified as a panacea for the attainment of an effective Lagos megacity region.

A gathering of city-based realtors who made this submission at a recent forum stressed that the approach should reflect the economic, political, regional, national and global environment through visionary leadership.

In a communiquÈ released at the close of the 2009 Lagos International Housing Conference organized by the Lagos Branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), participants agreed that government was unable to drive the megacity development project alone, and should realise that the role of private sector players, especially built environment professionals, was paramount.

The valuers stressed that a well-packaged Lagos megacity development could spring economic boom and investment opportunities. This, they added, was attainable through integrated master plan to sharpen three-dimensional physical development that responds to local, economic and social dynamics: and provision of framework for effective management of future developments.

"There is need to learn from the experience of other megacities in Africa and other continents, especially the experience of South Africa and Ghana where phased city developments have been adopted," declared the participants, even as they underlined the need for proper planning in terms of administrative, physical, and spatial organisation of developments and infrastructure like housing, health, security, roads, water supply, waste disposal and management as well as electricity supply.

In terms of housing financing and delivery, it was recommended that the urban poor should be incorporated in the scheme of things, not only by adopting affordable interest rates and other mortgage terms and conditions, but also by giving serous consideration to the issue of property tax, especially the Lagos State Land Use charge, so that additional burdens are not placed on the already-overstressed poor.

"Government should promote people-friendly urban development through integrated planning and utility design. This is by improving the social and economic conditions, provision of framework for effective management of future development, and ensuring capacity of existing transport network to accommodate growth with availability of utilities to enhance such growth," declared the surveyors, insisting that they should play advisory roles in the development of the megacity project.

This, they added, could be along areas such as: advising at the conceptual and planning stages, including the formulation of the planning law; re-planning and renewal of existing city; development, maintenance and redevelopment of the cities; direct involvement in physical development of the megacity; cooperation with other professionals; engineering amendment or a repeal of the Land Use Act for effective land administration in the megacity; and, providing information to aid financial decisions, in terms of valuation and appraisal of the physical developments.

The participants defined a megacity as an extensive large metropolitan area of human settlement having a population of 10 million or more, featuring industrialisation, international trade, technological advancement, a massive skilled and unskilled work-force, as well as availability of adequate infrastructure like water, drainage, sanitation, telecommunication facilities, adequate housing, and healthcare facilities.

They listed challenges facing megacities to include rapid population growth, decaying/overstressed and inadequate infrastructures, insecurity, inadequate housing, overcrowding, inadequate electricity supply, traffic congestion, unemployment, and inadequate health service.