Chinese firm set to boost Nigeria’s mass housing scheme

housingConcerned over shortage residential accommodation in Nigeria, consortium of Chinese firms has indicated interest to invest in the country’s housing sector.

Indication to this was revealed at the Affordable Housing Summit, organised by Zvecan Homes and Estate, in Abuja last week, where the Manager, One Belt One Road Financing Operation in China, Mr. Jin Changsheng, said his organisation would make efforts to attract other Chinese investors to Nigeria.

Specifically, the Chinese indicated that having seen the huge challenge of housing in Nigeria, they were ready to partner the Federal  Government towards the delivery of houses to low and middle-income earners across the country.

According to him, the Chinese infrastructural development has been steady for 30 years and that they believed that with their experience in that sector, they can, in shortest possible time make meaningful impacts in Nigeria’s housing sector.

Currently, a total of the ongoing 3,000 housing units in four locations in the Federal Capital Territory (FCT) were also unveiled during the summit themed “ Attracting Foreign and Local investors, for Housing Construction and Acceptable Business Models for Infrastructure Development and Equity Plan Scheme for Mortgage Financing in Nigeria”.

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Changsheng, who said his team having round Abuja, had discovered the alarming gap in the nation’s capital infrastructure, adding that, they were ready to help and ensure that affordable houses were built for Nigerians. Though, not unmindful of the infrastructure deficit, Changsheng, said his team would commence work very soon.

In his remarks, Mr. Nicholas Ogbede, the Managing Director, Zvecan Homes and Estate, noted that large populations of low and middle-income earners live in semi planned settlements around the Federal Capital Territory (FCT), where utilities and basic amenities were limited and that the distance from the suburb to the city centre where offices are located has negative affect on the work output of public servants.

“To deliver affordable mass housing stock particularly targeting the low income bracket, the FCT needs its specific housing policy, comprehensively framed to address its peculiarities. Proximity to the hubs of the National Rail, transit way line and along major regional routes should also be considered.” he said.