• Monday, December 04, 2023
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6000 homes on the way as Shelter Afrique signs MoU with developers

6000 homes on the way as Shelter Africa signs MoU with developers

About 6000 homes that have the potential to take away an equal number of families out of the crowded housing market are on the way as Shelter Afrique signs a financing agreement with estate developers.

The developers under the aegis of the Real Estate Developers Association of Nigeria (REDAN) signed the memorandum of understanding with the Pan African finance organization on the sideline of the just concluded Abuja International Housing Show (AIHS).

The signing event was done on ‘REDAN Day’ at the housing show organized by Fesadeb Communications with the theme, ‘Sustainable and Resilient Housing Solutions for a Post-Pandemic World’.

It is expected that the 6000 homes to be financed by Shelter Afrique and developed by REDAN members will go a long way to reduce Nigeria’s housing deficit estimated at 20 million units. Given an average of five persons per family, this move will provide homes for about 30,000 ‘homeless’ Nigerians.

“REDAN Day is always a big event at AIHS as it affords relevant stakeholders opportunity to discuss issues affecting housing development in Nigeria and proffer possible solutions.

Read also: Experts canvass UK model to fix Nigeria’s housing delivery problems

“This is a day when discussions are made to proffer practical solutions on how to increase housing stock in Nigeria for the growing population which will lead to the creation of massive employment and immense contribution to the growth of the Nigerian Economy,” Aliyu Wammako, REDAN President, explained.

“COVID-19 pandemic took the world by surprise, and although many countries are succeeding to curtail the spread of the virus, it is still a lingering problem and new waves have emerged. Ironically, even though COVID-19 is primarily a public health concern, solutions to the pandemic rest principally with having sufficient functional homes to stay in,” the president noted.

These functional homes, according to him, will ensure that self-isolation, social distancing, washing of hands, and other hygienic measures which are essential to limit the spread of the disease are achieved.

For Nigerians without adequate housing, it was difficult at the peak of the pandemic and it still continues to be hard to adhere strictly to the guidelines outlined by the Nigerian Center for Disease Control (NCDC).

But the president assured that, as an institution on the supply side of the housing delivery equation, they have marshalled resources, interfaced with critical partners in the housing value chain which includes the Family Homes Funds Limited and Shelter Afrique to provide construction finance.

The MOU was, therefore, coming at an apt time when the country and the world were in dire need of convenient, accessible, and affordable housing.

Shelter Afrique is the only pan-African finance institution that exclusively supports the development of affordable housing and contributes significantly to real estate sector development in Africa.

The company builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate.

As the company for housing and habitat in Africa, its operation has a direct and positive impact on the lives of many by meeting the needs of the continent’s rapidly growing urban population.