KSIP to construct 500 housing units

Garba Aliyu, the Managing Director of the Kano State Investment and Properties Ltd. (KSIP), has said the company plans to construct 500 housing units as part of efforts to provide mass housing for low income earners in the state, this year.

Aliyu said the project would be executed in collaboration with other relevant private developers.

‘’As an executing agency for Kano State Housing projects, the company intends to liaise with other relevant private developers to promote mass housing for low income earners,’’ he said.

He said the initiative was necessary in order to check the current housing deficit especially in the state capital and other major towns in the state.

‘’We plan to develop our major commercial plots at Kado Abuja, and Race Course Road and Murtala Mohammed way in Kano.

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‘’We also plan to consolidate the company’s investment activities to raise our investment value in both Quoted and Unquoted companies to over N2 billion.

‘’In addition, we plan to venture strongly into commercial venture activities in the areas of agricultural commodity supply, import and export, to enhance the company’s revenue base,’’ he said.

The managing director said since its establishment in 1971, the company had grown its investment in shares and properties from initial capital of N1 million, and transferred investment worth N33.6 million to the current substantial holding in 28 Quoted and nine unquoted companies worth N1.09 billion and N570.4 million, respectively.

He said the company would equally continue to partner with other relevant ministries and agencies toward reviving the state industrial sector.

(NAN)