FHA Homes Limited has signed a Memorandum of Understanding with Nekonini Business and Properties Limited for the development of 100 housing units in Abuja.
According to both organisations, the project is the second phase of the Maccido Estate and is part of efforts to bridge the housing deficit in the country as the first phase of the project, which involved the construction of 130 housing units with full infrastructure, was over-subscribed and had been successfully delivered to beneficiaries under the National Housing Fund.
The project will commence this month and be completed in December 2016, with employees of the Central Bank of Nigeria as its off-takers.READ ALSO – Pension Funds To Be Invested In Real Estate
The Chairman, Nekonini Business and Properties Limited, Mr. Niran Akinsuyi, said the houses would be three-bedroom detached bungalows valued at N18m each.
“In the MoU, FHA shall provide mortgage facilities as well as processing of the National Housing Fund for the off-takers if they so desire and are able to meet its requirements, while Nekonini Business and Properties Limited shall ensure the procurement of all approvals from the relevant government agencies and statutory bodies required for the development of the estate, and offer letter to interested off-takers stating all the terms and conditions upon which the sale is being made,” he added.
Akinsuyi noted that the estate would be provided with modern infrastructure, including road networks, water and power supply, full security and walkways, among others.