REDAN move to tackle Nigeria’s 14.9m housing deficit

Vice President Real Estate Developers Association of Nigeria (REDAN), Abuja chapter, Dr Gbadewole Kayode, has said his organisation, Crown Allied Global Realty, is committed to bridging the housing deficit gap in Nigeria.

Kayode made this known at the official groundbreaking of “The Embassy”, an estate in Wasa District of Abuja on Saturday.

According to him, Nigerians are struggling with housing deficit, occasioned by inadequate houses, especially in the Federal Capital Territory (FCT).

“Officially, we have 14.98 million housing deficit in Nigeria. We are committed to reducing the housing deficit in Nigeria, especially in the FCT, and that is why we doing the groundbreaking of ‘The Embassy’. We are building 2,400 housing units in this estate and this is the way we are impacting the housing sector. We are providing energy saving, and large volume of houses that will reduce the housing deficit in Nigeria.

“For low income earners, they can pay a part and spread the rest with the next six months. That is also one of our efforts to address housing deficit. We also sell blocks of flats through mortgage. We have Federal Mortgage Bank of Nigeria and other Primary Mortgage Institutions (PMIs) that provide services for people to get affordable houses,” Kayode said.

On job creation, the Chief Executive Officer of Crown Allied Global Realty said over 3,000 jobs would be created in the process of developing ‘The Embassy’. He said one of the objectives of the Federal Government was to provide jobs and generate economic boom through the informal sector. He explained that, “the way we are going to carry out this project, we are expecting to generate more than 3,000 jobs in this place.

“This is because, for you to build a duplex, you need more than 30 people for the work. Now, if you multiply 30 people by 2,400 units, you will know that job creation by Crown Luxury properties in FCT and Nigeria at large cannot be over emphasised,” Kayode said.

He further explained that Crown Luxury properties is very much available to know what customers need. He added that they need a distance that is within 18, 20 or 15 minutes drive to the city center; they need infrastructure, electricity, solar power, EV charging spot, etc and ‘The ‘Embassy’ has the advantage.

“So Crown Luxury Properties is developing this place, and the document is a very good and authentic. We have FCDA’s Certificate of Occupancy on this land. This place serves as a smart estate. it is 100 per cent solar powered. And we have commercial districts in it that will be sitting on 20 hectares, including hotels.

“Our investors can also buy land in the commercial hub and build commercial mall and lease out and rent out. It is very profitable for everybody,” Kayode said.