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Operation and Managing Director

Sierra Leone Housing Deficit – Ing. Amadu Sesay reveals his Company’s role.

The TRIAD Engineering Company Limited has on Wednesday 12th October, 2022, engaged newsmen at its headquarters on 21 Bai Bureh Road, Helena, Freetown.

The ceremony attracted various news outlets across the Freetown Municipality and also major stakeholders in the financial industry.

Addressing newsmen, the Operations and Managing Director of the Company -Alhaji Amadu Sesay threw light on the operations and scope of the organization. According to him, the Company obtained its legal status in 2017 and it is a 100% indigenous company that was established by young and ambitious Sierra Leoneans with the main objective of changing the narrative in Mortgaging and Financial investment.

He disclosed that the TRIAD Company is in the business of Construction, Maintenance, Real Estate, Rental Properties, Furniture, Interior Decoration, Community Water Supply, Mortgaging, Affordable Housing Development, Solar Installation, Borehole drilling, and Real Estate Investment Trust (REIT).

He underscored that the company is here to complement Government’s efforts in providing housing, creating employment for Sierra Leone and providing real investment opportunities for Sierra Leoneans of all classes and levels.

The Company therefore has two thematic areas they’re operating on: the Mortgaging Scheme and the Real Estate Investment Trust (REIT).

According to Alhaji Amadu Sesay, under the Mortgaging Scheme, the company is catering for three aspects of people:

1-Those with a legal parcel of Land,
2-Those without parcels of land and
3- And those with unfinished buildings.

He stated that for those with an already existing piece of land the company will construct a house based on the specification of the client with a 30% upfront payment and the remaining 70% is the Mortgaging amount which the client will pay with a minimal 10% interest rate adding that the mortgage will span from 1-30 years period.

Regarding those without parcels of land, the company will acquire a parcel of land for the client in any location of his /her choice.

The company will then construct a house after purchasing the land based on the client’s specification and with an upfront payment of 30% and the remaining 70% will be paid within 1-30 years with a 10% interest as well.

And for those with unfinished structures who couldn’t afford to complete them the company will also complete the structures based on clients’ specifications with upfront payments of 30% and remaining 70% to be paid within 1-30 years period.

Alhaji Amadu Sesay continued that according to a recent survey the company undertook in 2016, Sierra Leone as a nation has an housing deficit of 1 million and Ten Thousand Units which, he said, clearly shows that we need more houses in the country to be able to house every Sierra Leonean.

He opined that such led to the birth of the company with the aim of ameliorating the current state of housing problem most Sierra Leoneans are going through.

He concluded that the company’s vision is to actualize the construction of at least 1000 housing units across the country within a five year period (2021-2025).

To achieve that, he said the company is working with major banking institutions like the Sierra Leone Commercial Bank, United Bank of Africa (U.B.A), Skye Bank and A Call to Business Bank (ACTB) and the company is currently implementing 25 projects across the country.

In the area of Real Estate Investment Trust (REIT), Alhaji Amadu Sesay, maintained that the company gives opportunity to low , middle and high income earners to invest income producing properties.

The company offers an investment unit for as low as NLe 1,000 per unit with a 15% -20% returns on investment.

He concluded that there is an ongoing negotiation with the Ministry of Lands and the Public Private Partnership and Investment entity for a 1000 hectares of land to construct a mini-grid city with all basic and social amenities.

He pleaded with all Sierra Leoneans be they middle , low and high income earners to invest with the company as it is owned by Sierra Leoneans.

The Director of Real Estate Investment Trust-Patrick Kallon when talking to pressmen assured Sierra Leoneans that the company is legitimate and has maintained its credibility since it was established.

“It has professionals and well equipped staff with the technical know-how and prerequisite knowledge and skills to undertake all sort of constructions and investment,” he stated with pride.

Currently, the company is embarking on 25 projects some which are 90% completed. They’ve also implemented a project for the First Lady of Sierra Leone-Her Excellency Fatima Jabbie Bio in the construction of mosques in Kono District, implementing construction projects for Direct Aid and also served as Consultant for the just reconstructed Rokupa Government Hospital in Wellington and many more.

He called on communities that are suffering to access clean and safe drinking water to go in for their Community Water Supply scheme adding that the company has created job opportunities for young Sierra Leoneans and is geared towards providing more job facilities for Sierra Leoneans.

He encouraged Sierra Leoneans to invest with the company and also tap into the Mortgaging opportunity.

The programme was also climaxed with the official unveiling of the company’s brand Ambassador-Alimamy Almon Sall Kamara, Ex-Housemate from Housemate Salone Season-3.

(C) The Calabash Newspaper

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