How AbdulSabur Oloko is changing housing experience for UK- immigrants - Businessday NG
The decline in living conditions that immigrants in the UK often face—especially those with limited documentation is alarming and has continued to worsen owing to the housing crisis in the country.
Many immigrants have been exploited by unscrupulous private landlords, paying exorbitant rents for subpar living conditions.
Havennest Global Limited – a tech-driven real estate solution provider, founded by AbdulSabur Oloko, is ensuring that immigrants in the UK access safe and affordable housing while also advocating for their rights.
Oloko the chief executive of Havennest Global was inspired to establish the business owing to a personal experience he encountered as an immigrant in the UK. He was also inspired by the desire to change the narrative for other immigrants.
“As a newly arrived immigrant in the UK, my experience was significantly impacted by the challenges I encountered in locating appropriate and acceptable accommodation,” he says.
“My subpar living situation was a direct result of my inability to provide a UK guarantor and my limited documentation,” he notes.
“The goal is to improve the housing experience for immigrants who seek affordable accommodation but lack the necessary documentation, something often beyond their control,” he adds.
The Nigerian-born tech entrepreneur explains that other immigrants shared the same nasty experiences which led him to form connections with several people from Africa, India, Nepal, and Hong Kong, who had similar stories.
“Their experiences resonated with me, and it became clear that change was necessary. As a result, Havennest Global Ltd was established.
Since starting, the business has grown steadily and assisted several people in security-improved housing. “We have since grown to assist hundreds of people in securing improved housing, transforming their aspirations into reality,” he explains.
Apart from providing housing for immigrants, Oloko says his firm is focused on build-to-own projects that aim to increase housing stock in targeted UK areas.
“These initiatives will enable immigrants with limited or no credit history to purchase homes by verifying their income and utilising technology to assess their spending patterns.
“We advocate for legislation that reduces the deposit on new-build primary residences from 10 to three percent and extends mortgage terms from 25 to 50 years.
“This would allow hardworking immigrants, who contribute significantly to the UK economy, to own homes, escape exploitative landlords, and enhance their living standards,” he stresses.
According to him, lower mortgage payments, compared to high rents for substandard housing, would increase disposable income, improve living standards and mental health, and eliminate eviction threats and anxieties associated with temporary housing.
He notes the company has a provision of a return on investment (ROI) of 15 percent for middle-income earners in Nigeria to invest in the UK property market.
Moreover, Oloko says Havennest Global plans to become the primary destination for affordable, high-quality housing worldwide in the long run.
However, he mentioned some challenges he faced since starting the business such as funding and delays in planning permission approvals.
To navigate these challenges, Oloko says; “It’s a work in progress as the approval process for planning permission is slow due to agencies being slow to adopt technology and streamline inefficiencies. We are advocating for regulations that will speed up this process.
“We are continuously improving our processes by adopting methodologies such as Lean Six Sigma principles, the Kaizen approach, and Agile ways of working, among others.”
Charles Ogwo, Head, Education Desk at BusinessDay Media is a seasoned proactive journalist with over a decade of reportage experience.