By Gambo Jagindi
October 05, 2021
REDAN set to provide 77,400 affordable housing units for Nigerians
The Real Estate Development Association of Nigeria (REDAN), in collaboration with Shelter Afrique, is building 100 houses in each of the 774 local government areas of Nigeria.
Dr Aliyu Wammako, President of REDAN, who disclosed this in an Interview with News Agency of Nigeria, on Monday in Abuja, said this was part of the association’s Rural Urban Housing Initiative (RUHI 774).
Wammako Explained that the association had embarked on such programmes, designed to enhance housing delivery in the country, was for the benefit of all Nigerians.
According to him however, only 20,000 Nigerians, mostly teachers, local government workers and personnel from the paramilitary, who have so far applied for a house under the RUHI774 project, are captured in their data base.
”Nigeria is the highest investor in Shelter Afrique, and the company recently declared 1.3bn dollars profit, but with less or no visible commiserate developmental project of the company in the country.
”Our association therefore, decided to partner with the company, in other to bring home the desired benefits,” Wammako said.
He also lauded the proposed Federal Government’s Housing Bond for the real estate sector, which he said would enhance housing development and affordability in Nigeria.
The REDANl president, advised the Federal Governmentt to recapitalise the Federal Mortgage Bank, to meet up with the high demand from contributors of the scheme.
Wamakko, however, urged both federal and state governments to leave direct construction of houses to real estate developers.
According to him, government has no business building houses, but should concentrate on the provision of land, infrastructure and single digit loans to the real estate players.
He said such would translate to affordable housing, create employment opportunities, and ensure return of investments.
NAN reports that the
selling price of houses under the RUHI774 project is from N2.5m and above, depending on the location and the house prototype.
NAN also reports that REDAN is the umbrella body of private and public sector organisations, engaged in real estate development in Nigeria.