admin

Imagining a N500 billion housing fund

A big part of Nigeria’s infrastructure gap is the huge housing deficit. At the last count, it was estimated that the country has a 17 million housing deficit. However, this figure has been around since 2012 and so many players in the housing sector believe it is no longer an accurate reflection of the housing gap. Considering that housing provision has been deficient over the years, there is a strong prospect that the housing gap would have grown wider since 2012 than narrower.

But if we assume that the 17 million housing units’ figure is still accurate, even if the country were to build a million houses every year, it will still take 17 years to close the existing gap. With the country’s population growing at an estimated 3.5 percent per annum, to effectively close the housing gap, the country should actually be providing about 1.5 million housing units on an annual basis over a 17-year period.

If the gap were to be closed in the tenure of a single administration, assuming an 8-year tenure, we should be looking at approximately two to three million housing units per annum to do that.Practically, it is impossible for any government to seek to provide up to a million housing units on an annual basis. The cost would be too much and the logistics too huge. If we assume that the government would be providing very low cost housing at an average rate of N5 million per unit (say a two-bedroom apartment in a condominium), we would be looking at a cost of N5 trillion per annum, more than have of this year’s budget. The government is certainly not in a position to fund such huge budget for public sector housing.

However, government is a continuum. So no one government needs to close the housing gap in an 8-year tenure. What is really needed is a long term strategy that is fully funded on an annual basis aimed at closing the housing gap over a determined number of years. Besides, a well-funded and implemented public housing scheme could have a profound impact on economic development. We have all seen the impact Festac and 1004 estates, two mass public sector housing schemes that has stood the test of time, had made in Nigeria. Sadly, they have not been replicated over the years.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

So imagine that the federal government sets up a N500 billion public sector housing fund that is fully funded in the first year and use it to bridge the country’s ever widening housing gap. There is no doubt that a N500 billion housing fund is likely to have more socio-economic impact than the N500 billion social investment scheme that the government is currently implementing.

If we assume that the government can provide a two-bedroom flat on a mass housing basis at an average of N5 million per flat in a condominium style type of housing scheme, the government could easily be building a 100,000 housing units per annum over the next few years. This means that in four years, the government could build 400,000 housing units, a drop in the country’s housing deficit pool, but a significant step forward, when you consider that the government is currently unable to even provide up to a 1000 housing units on an annual basis.

If we assume that you will need to engage a minimum of 10 direct labourers to build one flat, building 400,000 flats per annum, assuming economies of scale, could create at least two million direct labourer jobs. The multiplier effect on other industries, like cement manufacturing, carpenters, wire manufacturers, electricians and many more that will have to be engaged or their products bought to complete this massive public sector housing scheme will be massive.

Then, there is also the taxation impact of providing housing for 400,000 households, who because they are living in government housing, can be identified and taxed. So those not already in the tax net can easily be brought into the tax net.

Click here to download Abuja International Housing Show Mobile App

The other major advantage of such a housing scheme is that it can be used for urban renewal, creating new urban centres and also for societal integration. So imagine a replica of 1004 estate in Ikorodu area of Lagos that also comes with a shopping mall located within the premises, an entertainment hub, including cinemas and an office complex. It also comes with all the basic amenities like water and road infrastructure.

The estate is built as a place where you can live, work and play. Allocation of flats is done on a quota system basis, that is, a combination of all the major tribes in the country and a healthy sprinkling of minority tribes to encourage ethnic integration.

The question is how do those who get allocated these houses pay for them. The answer is in the country’s fast growing pension funds. As at May 2018, data from the Pension Commission (Pencom) shows total retired savings funds under management is now N8.14 trillion. Total contributors in the fund stand at slightly over eight million.

Average contribution per person is slightly above N1.0 million while 74 percent of contributors are below 50 years. This means that there is room for a good chunk of these contributors to use part of their pension contribution as mortgage payments for a house. This will resonate well with most people as the biggest challenge facing many people looking to retirement is having a house of their own. It is just a matter of allocating a part each person’s monthly pension contribution as part payment for a mortgage for a house which he or she can move in as soon as a certain portion is paid.

Also contributions currently being made under the National Housing Fund (NHF) can be consolidated under the pension fund contribution. Basically, Pencom should take over the NHF contributions and administer it as a mortgage fund under the pension contributions.

The Federal Mortgage Bank can be remodelled into a regulator and possibly a buyer of last resort in the mortgage sector for those who may default in paying up on their mortgages. As a regulator, the federal mortgage bank will ensure that all houses being built under the public sector housing scheme meet with laid down standards and regulations. It could also undertake the provision of the public infrastructure needed to support the new housing units that will come up.

Public housing could be a catalyst for economic development. Sadly, despite our rising housing infrastructure gap, the government has failed to think through a workable and sustainable solution. With the high pace growth in the country’s population, the slow growth rate in housing provision and fast growth in rural to urban migration, the country faces a slum crisis and the associated insecurity that comes with it unless significant efforts are made to close the housing deficit.

Anthony Osae-Brown

 

Bahria Town: Asia’s largest private estate company’s lesson for Nigeria

One of the highlights of a recent trip to Pakistan is a visit to Bahria Town in Karachi, the country’s commercial capital.

Just as Lagos was Nigeria’s former political capital, Karachi was also Pakistan’s former capital and a port city just like Lagos.

It is on the outskirts of the Pakistani metropolis of about 20 million inhabitants that one of the country’s richest men, Malik Riaz, is building an impressive town that is more like a city over an area of 178 square kilometers, the equivalent of 16,000 hectares to house a million inhabitants.

The project, which is expected to cost over a billion US dollars, is just three years old, and has already delivered more than 100,000 villas, apartments and town houses.

The concept of Bahria Town, Karachi, is that of a gated community, somewhat similar to Gwarinpa in Abuja that was built by the Federal Housing Authority during the Abacha regime on a little over 1000 hectares.

Click here to download Abuja International Housing Show Mobile App

While Gwarinpa is designed as residential area, and is currently facing the challenge of businesses taking over major streets, from the onset, the Bahria Town model sets out to provide all the needed services from hospitals to schools, worship areas, zoos and other amusement parks, cinemas, offices, shops etc within the township.

The unique thing about Bahria Town is that everything is on a grand scale. The main boulevard already constructed is patterned on Dubai’s widest road, the Sheikh Zayed road. They also have what is said to be the biggest dancing fountain in South East Asia that is already in operation. The town also boasts of a theme park that has some of the biggest rides in the world about to be test run.

For golf lovers, an 18 holes golf course is already completed, while its accompanying 5 star hotel is still under construction. A 300 bed hospital is already at work and the town’s zoo has hundreds of animals already in place.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

The ambitious Bahria Town also has Tauheed Square fashioned after Trafalgar Square in London aside from mock Roman columns that adorn a side of the main boulevard. For the spiritually minded, construction is ongoing for the Grand Jamia mosque that aims to be the 3rd largest mosque in the world, complete with a university and museum.

In a delegation of seven Nigerians, we were all dazzled by the speed with which the project is being executed by a team of tens of thousands of workers some of whom are at work in a 24 hour shift. Our visit stretched into the night where we saw the whole town lighted up, witnessed the dancing fountain and learnt that it has its own separate 500MW power plant.

Seeing the beauty and well laid nature of Bahria Town, my mind went immediately to the President Goodluck Jonathan era and the Anyim Pius Anyim-led effort to build a Centenary city in Abuja through an audacious public private partnership which never took off the ground.

According to its website, the Centenary city will take four years to build and will be like Dubai and Monaco with tax laws and others not applying to it. Nearly 10 years since its initial conception, the idea is yet to complete a single building aside from the trade mark, the address signage, visible from the road to the Abuja airport.

The Pakistani model is not without its own controversy, such as its acquisition of such vast land and the founder’s closeness to the country’s military establishment, but which have not hindered its take off.

That model which is also targeted at the upper and middle classes, suggests that Pakistan has more of that category of aspirational citizens who could buy properties at costs ranging from over 70,000 to more than a million dollars.

Nigeria’s property developers could well learn a thing or two from the Bahria Town model that has made its founder and son of a bankrupted business man, Malik Riaz, one of Pakistan’s richest men.

Mannir Dan-Ali

 

FG urged to overhaul housing finance system

The Federal Government has been urged to overhaul the country’s mortgage system to make it easier for Nigerians to own homes.

The Managing Director, Opinior Engineering Company Limited, Mr Muftau Salawu, said this in Abuja during the handing over of keys of two and three-bedroom apartments to officials of the Nigerian Security and Civil Defence Corps.

He advised the Federal Government to put in place measures that would help to drive demand for houses built under the Public-Private Partnership arrangement.

Salawu pointed out that except this was done, the objective of the government to reduce the housing deficit in the country would be defeated.

The 300-unit Open Freedom Estate, according to him, was built to decongest the city centre and open up economic activities at the satellite towns.

He explained that under the PPP housing arrangement, the Federal Government provided the land, while developers from the private sector sourced for the funds for the construction of estates.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

Salawu said with the country having about 20 million units of housing deficit, there was a need for the government to urgently address some of the financing constraints to the housing sector.

He said the constraints created by equity contribution requirements by mortgage finance institutions had left the housing industry less attractive to investors.

According to him, if some of these issues can be addressed, it will assist in providing more houses for Nigerians and create jobs across the entire housing value chain.

Salawu stated, “Open Freedom Estate has over 200 units of three and two-bedroom bungalows at various levels of completion and over 100 units are occupied.

“While we rejoice with you on this achievement, we also want to use this medium to plead with the Federal Government through the Federal Government Staff Housing Loan Boards to assist other civil servants and para-militaries that are dying to own houses of theirs by making the process more accessible for those who want to own houses.

Click here to download Abuja International Housing Show Mobile App

“The Federal Government can help us the developers by buying-off these houses and give them out to civil servants on mortgage and relief us from debt, which has put us in the state of bankruptcy.”

He said the idea behind the project was not for profit, but to provide affordable houses to Nigerians within the nation’s capital.

“We hope that the Federal Government and relevant agencies will rescue us from this situation because we have over N1bn tied down for four years. It is very sad and not encouraging at all, but we have confidence in the system that things will get better,” Salawu added.

Ifeanyi Onuba

 

FMBN invests N6.37bn in estates in five states

The Ibadan Zonal Coordinator, Federal Mortgage Bank of Nigeria, Mr Stephen Owoshagba, has said that the lender has invested about N6.37bn to build estates in five states.

He identified the states and amounts so far disbursed as Oyo, with N2.33bn; Ondo, N2.03bn; Kwara, N1.06bn; Ekiti, N725m; and Osun, N227.6m.

He spoke during the FMBN Summit in Ilorin, the Kwara State capital on Friday.

Owoshagba said the summit brought together all the desk officers in all the 16 local governments of the state and the civil service in Ilorin to give them an appreciation of the benefit of the National Housing Fund.

He stated, “Essentially, as we are trying to get to the next level in in the development of the scheme, which is to make sure that our information and communications technology is established to give SMS alert to each contributor, we need to be able to surmount the problem of building up the database that will enhance that.

Click here to download Abuja International Housing Show Mobile App

“Over time, especially in this state, we have been collecting money from consultants and the desk officers are supposed to give us the schedules of the different deductions so that at our end, we will be able to set up the individual accounts, the setting up of individual accounts will be able to enhance our sending balances of contributions on SMS alert on monthly basis to the contributors. This platform is to educate them.”

The Acting Kwara State Coordinator, FMBN, Mr Nurudeen Mohammed, said the summit was an enlightenment forum for schedule officers to know the importance of submitting the schedule of payment.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

He added that most of the organisations in the state that subscribed to the National Housing Fund scheme were remitting the deductions from their employees’ salaries.

Mohammed, however, stated that most of the time, the subscribers were not accompanying their payments with the schedule of payment.

According to him, the schedule of payment is what will enable the bank officials to properly match the employees with their contributions.

Success Nwogu

 

HOUSING CRISIS CAN’T BE SOLVED BY TINKERING WITH PLANNING LAWS – BUILD MORE SOCIAL HOUSING INSTEAD

Theresa May has set out to address citizens’ anger over the lack of affordable housing, blaming councils for failing to enforce planning rules and private developers for focusing on making a profit for shareholders.

Yet her suggestion to tinker with the National Planning Policy Framework (NPPF) will keep leaders talking, rather than building – it will not resolve the nation’s housing crises. And yes, the crises are plural, not singular, depending on where you live.

The government must now step in and take the lead on housing policy and socially-focused capital investment, to provide the homes that people so desperately need.

Fundamentally, the purpose of housing – whether owned or rented – is to provide shelter from the elements: a place from which to access school, work and health care and to find privacy from the public gaze. Housing should also give people a sense of being “at home” – a place to be their authentic selves, and realise their ambitions.

For these reasons, housing is too important to be led by the private market. When the purpose of housing is to provide a profit for shareholders, it creates perverse incentives to build expensive luxury homes for the wealthy to live or invest in, or to delay construction while waiting for land values to rise (a practice known as “land banking”, identified by the prime minister in her speech).

Click here to download Abuja International Housing Show Mobile App

The other option is social housing: homes owned by local councils or housing associations, rented out at significantly less than the market rate. There needs to be a mixed housing economy, which prioritises the delivery of sustainable and properly affordable homes. But there are several steps that both government, and society at large, must take in order to get there.

Theresa May’s changes to the NPPF to ‘encourage’ building firms to get on and build homes is just one part of the puzzle (PA)

For one thing, it’s vital to change the way we talk about housing. All too often, private individuals and organisations are encouraged by government to invest in bricks and mortar, for example through the “right to buy” policy. But if government gets involved – directly building property – it’s not seen as a capital investment to benefit citizens – the nation’s “shareholders” – but as a “burden” or a “debt”, in terms of public sector borrowing.

Government should invest in capital subsidies to build social housing, in the name of the public good. The Welsh government is abolishing the right to buy in Wales, and England needs to follow suit. The policy means homes are being built with public money, then heavily discounted and sold to private landlords, who gain the uplift in value on resale as the market values rise.

There are even examples of houses bought through right to buy being let on the private market, to tenants who pay rent using a housing benefit from the government. As part of my ongoing research, I have even heard from landlords who won’t let to tenants on benefits anymore, because their mortgage company considers it too much of a risk.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

All the while, the nation’s stock of affordable social homes is fast being depleted, with about 4,000 being sold each year. Borrowing rules need to be loosened, to allow councils to build social housing at really affordable rates. A tighter link to earnings – not rising property and land values – would create really affordable housing, in relation to tenants’ income.

The recent cold spell has underlined the urgent need for a rapid response, to end the growing problem of rough sleeping and homelessness. The market is partly to blame for the unacceptable rise in homelessness, alongside the government’s failure to invest in building more council housing. The impact of universal credit and benefit caps mean people cannot afford private rents in some areas, and there is not sufficient social or affordable housing to plug the gap.

The number of people sleeping rough in England has more than doubled since 2010 (Shutterstock)

The government can prevent people from having to sleep on the street, sofa-surf or engage in other forms of hidden homelessness by properly investing in health, education and social care to help keep people secure in their homes. Research has found that homeless people have many complex needs, which often require specialist support.

Another symptom of the lack of affordable homes is that only a quarter of young people today can afford to buy a house – the rest have been priced out. Many are delaying their transition into adulthood by continuing to live in their parents’ home, or sharing with others out of financial necessity when they would rather be moving into a family home with the person they love.

Both of these big social issues could be tackled with an integrated social policy with housing at its heart, and with investment by the government in building social and affordable homes. But there is also a keen need for more infrastructure and support, to help develop functional and well-connected communities.

The government recently announced a £866m investment to fund local council infrastructure schemes, but still more continued and consistent investment is needed. May’s changes to the NPPF to “encourage” building firms to get on and build homes – in addition to the funding already announced – is one part of the puzzle. But there is so much more that can and should be done.

Jo Richardson

Investments In Construction, Building Sectors Reason For Economic Recovery- Fashola

The minister of power, works and housing, Mr Babatunde Fashola, has disclosed that Nigeria recovered within one year of economic recession due to heavy investments in the construction and building sectors.

He stated this in Abuja  while declaring open a two-day workshop on ‘Construction Contracts Best Practices,’ organised by the Nigerian Institute of Quantity Surveyors (NIQS).

Fashola stated that the National Housing Programme ( NHP) of the current administration was the second in the history of Nigeria as an independent country, adding that the project has created not less than 14, 000 direct jobs and 40, 000 indirect jobs for builders, petty traders, food vendors and among others.

The minister described the construction sector as one of the most important sectors in any economy adding that apart from generating employment that it has multiplier effects on other sectors.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

He commended NIQS for aligning itself with the developmental efforts of government even as he emphasised the need for government to enter into contractual relationship with different parties and nationalities.

Click here to download Abuja International Housing Show Mobile App

The minister, who was represented by Mr Dickson Onoja, noted that President Muhammadu Buhari, has been working to meet government’s contractual obligations including payment of contractors and contractual debts inherited by the previous administration.

Fashola stated that the ministry was interested in the outcome of the workshop, which he believed would develop the capacity of practitioners in handling various forms of contracts.

On his part, the president of NIQS, Mr Obafemi Onashile, said that the essence of the workshop was to promote the growth of the profession in all relevant areas including the award of contracts.

CHIKA OKEKE

Housing: Real Estate To Undergo Boom Soon – REDAN President

Mr Ugo Chime, the President, Real Estate Developers Association of Nigeria (REDAN), on Thursday said real estate development sector was about to experience a boom.

Chime said this on Thursday while speaking on `Real Estate Management’ at an empowerment programme organised by a religious body in Enugu.

He said that the boom was as a result of the recent successes the association recorded in surmounting challenges and concerns facing the real estate sector.

Chime attributed the recent successes to the ability of REDAN leadership to convince the Federal Government that real estate could contribute more to Nigeria’s economy if given the necessary support.

“Real estate in Nigeria contributes just about seven per cent to the economy while it contributes 20 per cent and 70 per cent to Ghana and UK’s economy respectively.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

“So, we have convinced the Federal Government that real estate can contribute more than its current seven per cent to the economy with the needed support.

“This conviction is yielding results, amongst which the successes we recorded in the past weeks.

“Developers should expect a reduction in prices of building materials in coming weeks, housing schemes in different states and reduction in housing loan interests.

“We’ve been able to conclude a meeting with manufacturers of BUA and Dangote cement and they are interested in making everyone own affordable home.

“This will lead to a reduction in prices of building materials and any loan interest from the National Housing Fund (NHF) is reduced to just 10 per cent or no per cent at all, as the case may be.

“For example, a loan of N5 million from NHF has no interest on it, while that of N10 million to N20 million comes with a 10 per cent interest and not 30 per cent as before.

“Housing scheme contracts has also been awarded to several companies to begin work in different states of Nigeria, amongst others,” said.

Click here to download Abuja International Housing Show Mobile App

Chime, however, said that due to the nascent nature of the profession, some laws needed to be put in place to ensure that the sector thrived.

He lamented the huge capacity gap in Real Estate Management, which he noted was the bane of housing development in Nigeria.

“We hope to embark on training and awareness creation to bridge the gap,’’ he said.

Shuaib Jamiu

NIGERIA HOUSING AWARDS 2018 HOLDS IN A GLITZ AND GLAMOUR CEREMONY

It was a night that professionals in the built and construction industry will live to remember for a long time. The Executive hall of the International Conference Centre Abuja- venue of the 2018 Nigeria Housing Awards (NHA) was gorgeously decorated, benefiting the status of the awards itself.

Before entering the venue, guests were treated to special interviews and an opportunity to pose for photographs at the elegant red carpet anchored by charming ladies.

There were music aplenty, melodious sounds of classic and legendary tunes were dished out one after the other by the Nigeria Civil Defence band- a team that never disappoints. They got the whole hall singing along all night; surely they added glamour to the night. Some of Nigeria’s finest comedians were also present to crack the audience up.

Among those who graced the ceremony is former Minister of State for Health, Chief Gabriel Aduku, the Coordinator, Abuja Metropolitan Management Council, Tpl. Umar Shuaib, The MD/CEO of Federal Mortgage Bank of Nigeria (FMBN), Arc. Ahmed Dangiwa, President, Real Estate Developers Association of Nigeria (REDAN), Rev. Ugochukwu Chime.

Others are Former president, Nigeria Institute of Town Planners, Tpl. Steve Onu, CEOs of real estate companies and other stakeholders in the real estate industry.

The Nigeria Housing Awards recognize and celebrate original and innovative contractors, businesses, teams, consultants and projects that demonstrate excellence in the building and construction environment. The award was set up to encourage competition and competitive pricing in the Housing Construction Industry. The award categorization is carefully designed to recognize the efforts of both established and up-coming organization in the Housing/ Construction Sector in Nigeria.

In addition the event serves as a convergence platform for the building and construction industry. The award recognizes, appreciates the hardworking, excellent and innovative companies and personalities in the Housing/Construction Sector. Over the years, the Nigeria Housing Awards, formerly known as the Abuja Housing Award, has sought to promote standardization and ethical practice in the sector.

The award holds yearly in a classy ceremony attracting the most important institutions, persons and government officials and agencies in the built industry in Nigeria. With unrivalled networking opportunities on the night, the awards are the ultimate celebration of the construction industry’s achievements.

In his opening remark, the Chairman of the Occasion, Chief Gabriel Aduku, and a former Minister of State for Health welcomed everyone specially and enumerated the need for reward of excellence and outstanding contributions in the industry.

There was room for the guest speaker at the ceremony, the President of the Real Estate Developers Association of Nigeria (REDAN), Rev. Ugochukwu Chime to deliver his speech. According to him, the NHA was set up to honour contribution to the sector and to appreciate those who over the years have laboured silently to ensure the development of the built industry.

He said “thank you all, the awardees, your labours have been noticed, there is more to do to ensure housing become epicenter of labour and increased GDP for Nigeria. Housing has a multiplier effect, especially at a time we are looking to create jobs for our youths.”

Recognized at NHA 2018 was Sa’adiya Aliyu Aminu, who won the award for the female CEO of real estate Company of the year, Rev Ugochukwu Chime, Housing Advocacy person of the year (National), while Kunle Faleti won the award In the Diaspora category, the merit award for excellent contribution to mortgage banking and housing finance in Nigeria was given to Kayode Omotoso.

The MD/CEO of the Federal Mortgage Bank of Nigeria, Arc. Ahmed Dangiwa was recognized as the housing finance person of the year (male), while Agnes Tokunbo Martins won the award in the female category.

Also recognized on the night was Haven Homes limited (Innovative real estate company of the year), AFP Furniture (Furniture company of the year), CDK Integrated Industries (Sanitary wares company of the year award), Voda Paints Limited (Innovative paints company of the year), Constrix real estate development company (fastest growing real estate company of the year).

Others include Millard Fuller Foundation (affordable housing project of the year), Royal Ceramics Limited (Innovative marble company of the year), Brains and Hammers Limited (Real estate company of the year), Wiser Estates (Innovative housing project of the year), Abuja Property Development Company (Quality housing project of the year), Bstan Homes Limited (New real estate company to watch award) and Jigawa Mortgage Bank Limited (Innovative mortgage bank of the year).

Azizi Development Limited, Dubai was recognized as the International Real Estate Development Company of the year. Tpl. Steve Onu, Hon. Shehu Liman Wan and Tpl. Umar Shuaib were specially honoured with the lifetime achievement awards for 2018.

The night was crowned with the address of the visioner of the Nigeria Housing Awards, Barr. Festus Adebayo. Adebayo appreciated all the partners that made the event a success both in Nigeria and outside the country.

He said “our aim is not to make the show a talk show; it is to make houses available. When and how will the housing problem be reduced. The government must develop the political will to recapitalize the Federal Mortgage Bank of Nigeria.”

Adebayo added that “we must solve the housing problem of this country. Unemployment is increasing; housing should be used to solve the problem of the Nigerian economy.”

Indeed, the Nigeria Housing Awards 2018 will live long in the memory; the curtains were drawn with group photograph by the awardees and a general dance session by everyone who attended.

Adeleke Samuel, Housing News

AZIZI CROWNED INTL. REAL ESTATE DEVELOPMENT COMPANY OF THE YEAR

Azizi Development Limited, Dubai has been recognized as the International Real Estate Development Company of the year.

The Company received the award at the Nigeria Housing Awards (NHA) 2018 held at the International Conference Centre Abuja.

Although the foundation stones of the present day Azizi Group were laid in 1989, it was in 2007 when the towering presence of Azizi Developments first began to take shape. Mirwais Azizi was driven to design homes and communities inspired by modern urban living.

Azizi Development Company reflects the aspirations of a wide spectrum of lifestyle seekers. It primes itself as a company that unlocks a new lifestyle for the curious and ambitious, setting the ideal platform to live, work and play- and building communities that bring people closer.

Also recognized at NHA 2018 was Sa’adiya Aliyu Aminu, who won the award for the female CEO of real estate Company of the year, Rev Ugochukwu Chime, Housing Advocacy person of the year (National), while Kunle Faleti won the award In the Diaspora category, the merit award for excellent contribution to mortgage banking and housing finance in Nigeria was given to Kayode Omotoso.

The MD/CEO of the Federal Mortgage Bank of Nigeria, Arc. Ahmed Dangiwa was recognized as the housing finance person of the year (male), while Agnes Tokunbo Martins won the award in the female category.

Also recognized on the night was Haven Homes limited (Innovative real estate company of the year), AFP Furniture (Furniture company of the year), CDK Integrated Industries (Sanitary wares company of the year award), Voda Paints Limited (Innovative paints company of the year), Constrix real estate development company (fastest growing real estate company of the year).

Others include Millard Fuller Foundation (affordable housing project of the year), Royal Ceramics Limited (Innovative marble company of the year), Brains and Hammers Limited (Real estate company of the year), Wiser Estates (Innovative housing project of the year), Abuja Property Development Company (Quality housing project of the year), Bstan Homes Limited (New real estate company to watch award) and Jigawa Mortgage Bank Limited (Innovative mortgage bank of the year).

Tpl. Steve Onu, Hon. Shehu Liman Wan and Tpl. Umar Shuaib were specially recognized with the lifetime achievement awards for 2018.

The annual Nigeria Housing Awards recognize and celebrate original and innovative contractors, businesses, teams, consultants and projects that demonstrate excellence in the building and construction environment.

The Award was set up to encourage competition and competitive pricing in the Housing Construction Industry.

This year’s Award which was held in a classy ceremony attracted the most important institutions, persons and government officials and agencies in the built industry in Nigeria.

Among those who graced the ceremony is former Minister of State for Health, Chief Gabriel Aduku, the Coordinator, Abuja Metropolitan Management Council, Tpl. Umar Shuaib, The MD/CEO of Federal Mortgage Bank of Nigeria (FMBN), Arc. Ahmed Dangiwa, President, Real Estate Developers Association of Nigeria (REDAN), Rev. Ugochukwu Chime.

Others are Former president, Nigeria Institute of Town Planners, Tpl. Steve Onu, CEOs of real estate companies and other stakeholders in the real estate industry.

This year’s Abuja International Housing Show was attended by the Ministers of Housing of Ghana, Nigeria, former Minister of Housing, Arc. Sen Sanusi Dagash, and members of the National Assembly.

Adeleke Samuel, Housing News

FRSC, Federal Mortgage Bank strengthen ties

The Federal Mortgage Bank of Nigeria said it has disbursed more than N1 billion to officers and men of the Federal road safety corp (FRSC) in line with its mandate to provide affordable housing to all Nigerians.

This was disclosed when the Corp Marshal visited the mortgage bank to further strengthen the existing partnership between both organisations.

The National housing fund is a federal government scheme, which entitles all Nigerian above the age of 21 years in paid employment to a low interest, government-funded loans.

The loan is for the purpose of building, purchasing or renovating residential accommodation.

It is against this backdrop the FRSC’s Corp marshal visited the federal mortgage bank of Nigeria not only to make a case for the extension of the bank services to his officers, but to also appreciate the established partnership existing between both organisations.

Get your daily housing news on your mobile phone : Download from goggle playstore Now

The Corp marshal pointed out that housing remains one of the major challenges affecting public servants and taking advantage of the National housing fund will be a step in the right direction.

On his part, Managing director of the federal mortgage bank of Nigeria restated the mandate of the bank which focuses on affordable housing for Nigerian workers and disclosed how the bank has so far disbursed funds for the actualization of this course.

Click here to download Abuja International Housing Show Mobile App

The Corp marshal was appointed Ambassador of the National housing fund with the Federal mortgage bank of Nigeria this follows his effort towards promoting the scheme.

TVC News

WP Facebook Auto Publish Powered By : XYZScripts.com
Translate »

subscribe

You have successfully subscribed to our newsletter

There was an error while trying to send your request. Please try again.

Housing News will use the information you provide on this form to be in touch with you and to provide updates and marketing.