The Managing Director of Family Homes Fund (FHF), Dr. Femi Adewole has said that FHF is committed to doing an excellent work in providing housing that people on low income can afford.
He made this statement during an Interview with HousingNews Crew earlier today in his office.
“we are doing tons of work in ensuring that we bank adequate land in good locations where these homes will be sited.
“We are ensuring that we maximize the efficiency of the design of these homes which is key to ensuring that we deliver the affordability that our people need” He said
According to Dr. Femi, In line with the mandate which is centered on providing large scale affordable housing supply and economic development, “FHF is working in partnership towards providing up to 500,000 homes and 1.5million jobs from now till December, 2023”
“Primarily, we are working with partners who can build to scale so that we can harvest the economies of skills that then goes on to deliver lower prices to our target customers”
“we are currently talking to REDAN, Housing Corporations, Federal Ministry of Power, Works & Housing, State Governments, and other parastatals. We are bringing a whole range of people together to partner with us as they all have key roles in ensuring that this programme succeeds” he said.
Dr. Adewole said that FHF is putting a structure in place that allows people to actually be able to afford those houses and be able to buy them even after they have been built.
“We are coming up and in the final stages of designing home loans assistance program that will ensure that our target market which is basically people who are earning fairly low to modest income can have access to decent accommodation at no more than 30% of their income.” He said.
The M.D. Family Homes Fund expressed with assurance that FHF being the largest housing fund in Sub-Saharan Africa stands a strong chance in delivering on its mandate.
“Because of the large capital that we have, the Family Homes Fund is the largest housing fund in sub-Saharan Africa so we are financing the program with a significantly concessionary interest and rate for development. If we put all those things together, I think it gives us a strong chance for delivering on the mandate.”
Wilson Ifeoma, HousingNews, Abuja.