Family Homes Funds has reached a ground breaking agreement with the Kaduna state government to provide comfortable and affordable homes to low income earners in the state.
While speaking at the 40th Kaduna Int’l trade fair, Mr. Femi Adewole said that this novel housing project will benefit many people who wouldn’t have dreamt of owning a home of their own. It is a great opportunity for informal sector creatives like carpenters, welders and all other artisans who wants to buy a home at the most affordable rate.
According to Mr. Adewole, Plans have been made to begin the design of the 5000 homes where at least 70% of them are no more than 3 million naira for the sake of affordability.
“We are very bullish about this and this is a positive direction for Kaduna and everyone involved in this,” he said.
Speaking further, he mentioned that the project will be actualized with great success because some of the major issues like land tenure system, the foreclosure law and other foundational policies have already been handled by the Kaduna state government.
According to Adewole,Family Homes Funds is the largest provider of construction finance in the country and is committed to cater for the growing housing needs in the country.
In achieving this, they are poised to raise nothing less than N200 billion to actualize this goal. “When we build the houses, we also have to create an opportunity platform for the people to be able to buy them “he said.
Family Homes Funds is creating a Home Loans Assistance Programme, the absence of which has always been a barrier to those willing to own their own home but unable to access credible loans for them.
Those looking to benefit from this opportunity will get over 40% of the cost of the house borne on their behalf by the company.
The ground-breaking project has been praised by many who believe that this is finally a great opportunity for the poor to own their own homes.
Family Homes Funds is increasingly winning the goodwill of most Stakeholders involved in the provision of quality and affordable homes in the country. Both donor organizations, governments and the beneficiaries have expressed their confidence in FHF, and the newly approved Kaduna 5000 affordable homes is another milestone.