The Nyesom Wike-led Federal Capital Territory Administration (FCTA) has entered into a partnership with the Brookfield Group of Companies to provide affordable housing for Abuja residents by partnering with various stakeholders.<\/p>\n
<\/p>\n
The Chief Executive Officer of the company, Oluwaseun Olatunji, in a statement issued Monday in Abuja said the development of three new districts in Abuja was in support of the Renewed Hope agenda of the President Bola Tinubu administration.<\/p>\n
<\/p>\n
According to him, the project would fast-track the implementation process of developing the original Abuja master plan into an urban model city, and would cost the about $16.2 billion.<\/p>\n
<\/p>\n
He said; \u201cIt is a well known fact that the housing crisis in the country now stands at 28 million deficit as of January-February this year. It means that if three or four people are to be living in a unit apartment, almost half of the country\u2019s population is either homeless or struggling to have a roof over their heads.<\/p>\n
<\/p>\n
So, as a real estate development and civil construction company, we have come to realize the importance of creating value in the industry through maximizing residential units for potential occupancy and minimizing costs of construction expenses in other to create affordable avenues for first, low and average income home buyers through private equity financing methods, while we make available up to 50 years mortgage loan.\u201d<\/p>\n
<\/p>\n
Olatunji stressed that as a corporate organization, the company has resolved to invest and direct its operations to fully specialisze in developing multi-family residential properties in Nigeria and Africa at large.<\/p>\n
<\/p>\n
According to him, the first phase of the project will accommodate 450,000 multi-family residential apartment units, costing about $16.2 billion to be sourced through international bridge finance.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Nyesom Wike-led Federal Capital Territory Administration (FCTA) has entered into a partnership with the Brookfield Group of Companies to provide affordable housing for Abuja residents by partnering with various stakeholders. The Chief Executive Officer of the company, Oluwaseun Olatunji, in a statement issued Monday in Abuja said the development of three new districts […]<\/p>\n","protected":false},"author":2,"featured_media":1606,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[177,172],"tags":[59],"class_list":["post-1845","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-abuja-reports","category-news","tag-featured"],"aioseo_notices":[],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/1845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/comments?post=1845"}],"version-history":[{"count":1,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/1845\/revisions"}],"predecessor-version":[{"id":1846,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/posts\/1845\/revisions\/1846"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media\/1606"}],"wp:attachment":[{"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/media?parent=1845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/categories?post=1845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abujacityjournal.com\/livenews\/wp-json\/wp\/v2\/tags?post=1845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}