In a recent chat Habitat Magazine had with the Executive Director, JNT Construction Company, Mr Jide John Williams in his office in Abuja. Mr Williams revealed a new building initiative he referred to as “Pauline Building Model.”
He explained that the initiative is JNT’s major way of discouraging developers from diverting intending housing owner’s funds for personal use. In his words “A trend which has become common place because of paucity of funds, in the face of growing demanding building project.”
He further explained how Pauline Building Model was designed to make the dream of owning a luxury home a reality, the Executive Director, JNT Construction Company, Jide John Williams revealed that the scheme involved a financial institution, a developer and the vendors who would have protected interest in achieving the same goal of erecting a finished luxury home at a stipulated time.
He said, “The Paul’s Building Model is a model developed in response to the prevalent issues of quality and delivery in the real estate industry. The main objective of this model is to provide assurance and guarantee to clients who plan to purchase a property from a developer.
“The model involves a reputable bank as the first party. The bank acts as the financier of the entire project, taking responsibility for paying all vendors directly. This includes payment for all aspects of the project, from the foundation to the different stages of the construction including plumbing, fixtures and fittings, roofing, and even furnishing. The model ensures transparency throughout the process, guaranteeing that projects are delivered on time and with high quality.
“Crucially, this model prevents developers from diverting clients’ funds to other projects or for personal use, as they do not have access to the money until the project is completed and handed over”
Mr. Williams added that the Pauline building model arm was to alleviate longstanding concerns about quality and delivery in the real estate industry by introducing a structured and transparent approach that safeguards clients’ investment.
“At the completion of the project, a Pauline building model certification is issued to provide assurance to the client that all conditions have been met” he explained.
JNT Construction unveils building initiative
Executive Director, JNT Construction