Effort to solve Nigeria ‘s housing crisis is getting more attention as a real estate firm,Wisdom Kwati Group, has mapped out strategies for the development of a mega city in Karshi, Abuja.
The city aimed at generating over six million jobs within the next decade
Unveiling the ambitious plans for the development of a mega city in Karshi, Abuja, Chairman of Wisdom Kwati Group, Wisdom Kwati, said the project has the the potential to reshape the real estate landscape in Abuja, offering a sustainable, eco-friendly urban environment tailored to the Nigerian middle class.
The mega city project, to be known as Wisdom Kwati Smart City, Kwati, he said was still in its first phase and expected to be completed in 10 years.
Chairman of Wisdom Kwati Group, Wisdom Kwati, spoke on how the project would address some knotty pressing issues relating to Abuja ‘s housing crisis.
“Abuja’s housing crisis is a crisis, pressing issue, and we are determined to make a difference,” he said.
He disclosed that he was already in talks with both local and foreign investors to secure over N77 billion for the purpose of affordable housing development in Karshi, Abuja.
Apart from affordable homes the project offer, Kwati said the company would incorporate sustainable building practices that will reduce costs in the long run, making life easier for residents.
In alignment with recent policies initiated by Nigeria’s Minister of Housing and Urban Development, Arc. Ahmed Dangiwa, which focuses on affordable and mass housing schemes, the developer of Wisdom Kwati Smart City, said he drew inspiration from the government-led initiatives aimed at closing the housing gap.
“The Federal Ministry of Housing recently introduced several public-private partnerships designed to promote affordable housing development.
These policies resonate with Wisdom Kwati’s vision to create a city that merges quality living with affordability,” he said.
Chief Operating Officer of Wisdom Kwati Smart City, Baba Yakubu Ballah, highlighted the project’s employment potential.
“Our phased development will open up job opportunities starting with construction and engineering, followed by service industries. The sheer scope of the project is similar to Eko Atlantic in Lagos, but we’ve designed this city with sustainability and affordability as key drivers.”
“Additionally, the ongoing discussions with investors to secure over ₦77 billion in funding have brought attention to the global interest in Nigeria’s real estate sector.
“We are still in talks with investors, both local and international, but the interest we’re seeing is encouraging. There’s recognition that this project is both timely and transformative,” Ballah stated.
Referencing the government’s housing reforms and policies, Kwati noted that the project aligned with the current administration’s vision to improve access to housing.
“We are committed to supporting the government’s initiatives through innovative real estate solutions that can bridge the gap between demand and supply,” he said.
According to him, the city will boast a range of eco-friendly infrastructure, such as renewable energy sources and water conservation systems, positioning it as a sustainable urban environment.
‘Wisdom Kwati Smart City is expected to attract a wide variety of sectors, including technology, real estate, and green innovation, ensuring that the employment opportunities created are diverse and impactful,” he said.
With an ongoing housing deficit in Abuja and other parts of the country, it is beloved that the projects like this are emerging as vital solutions.
“The Federal Capital Territory (FCT) is grappling with a shortage of affordable housing, forcing many residents to live in overcrowded areas or commute long distances.
“The National Bureau of Statistics (NBS) reports that Nigeria currently faces a housing deficit of over 17 million units, with Abuja among the most affected cities,” he said.
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