Things are really looking up in the Nigerian Real Estate sector with various Stakeholders churning out programs aimed at providing affordable homes especially for low income earners. The latest in this fray is the Federal Housing Authority (FHA) which is gearing up to commence work in different parts of Nigeria beginning with the New Town Project in Bwari, near the Federal Capital Territory, Abuja.
According to the MD of the FHA, Mr. Gerver Gemade, the main objective of the FHA is to provide affordable housing for workers. He made this known in Abuja during the inspection of the site with members of his management team. Mr. Gemade promised that they are targeting 25,000 affordable housing units in the Abuja project due to an urgent need to relieve the City Centre of pressure on its facilities and infrastructures. Another FHA housing project is currently under construction at Apo in Gudu District of Abuja, where about 1,300 housing units are expected to be completed through direct construction by the FHA in partnership with Private Sector Operators.
The FHA project will comprise mainly one, two, three and four bedroom apartments in high rise structures. This according to him, is to save cost on infrastructure and the serviced land. Another plus for the project is that it will be carried out through direct construction and Public-Private-Partnerships (PPP). The facility promises to have its own independent power source and water treatment plant.
Mr. Gemade reiterated that the FHA had acquired parcels of land in 17 States for housing estates and that they are currently interfacing with the Lagos state Government on the titling of FHA land holdings in Lagos State. The MD stressed that the emphasis on housing for low and medium income earners is born out of the need to cater for the vulnerable segment of the population and to assist the government in combating crime, diseases, unemployment and other societal ills confronting Nigerians.It is refreshing to hear that the FHA is not primarily driven by the pursuit of profit but by a passion to ameliorate the suffering of Nigerians. We urge them to remain steadfast and to deliver on their promise.