The Real Estate Developers Association of Nigeria (REDAN), Abuja Chapter, has reaffirmed its commitment to tackling Nigeria’s housing deficit through increased housing delivery and flexible financing options.
Speaking at the groundbreaking ceremony of The Embassy, a 2,400-unit housing estate in Wasa District, Abuja, the Vice President of REDAN Abuja Chapter and Chief Executive Officer of Crown Allied Global Realty, Dr Gbadewole Kayode, said the project would make a significant contribution to housing delivery in the Federal Capital Territory.
Kayode said Nigeria’s housing deficit currently stood at about 14.98 million units, stressing that Crown Allied Global Realty was determined to play its part in bridging the gap.
“Officially, we have a housing deficit of 14.98 million in Nigeria. We are committed to reducing the housing deficit, especially in the FCT, and that is why we are doing the groundbreaking of The Embassy,” he said.
According to him, the estate would feature energy-efficient homes and modern infrastructure designed to meet the evolving needs of residents and investors.
He disclosed that the company had introduced flexible payment plans to make home ownership more affordable, particularly for low-income earners, allowing buyers to make an initial payment and spread the balance over six months.
Kayode also revealed that Crown Allied Global Realty was offering blocks of flats through mortgage arrangements in partnership with the Federal Mortgage Bank of Nigeria and other Primary Mortgage Institutions.
Beyond housing delivery, he said the project was expected to create more than 3,000 jobs during its construction and development phases.
“The way we are going to carry out this project, we are expecting to generate more than 3,000 jobs here,” Kayode stated.
He explained that the construction of one duplex could require the services of more than 30 workers, indicating the scale of employment opportunities that could emerge from the development of 2,400 housing units.
Describing The Embassy as a smart estate, the CEO said the development would respond to growing demand for well-planned communities located within 15 to 20 minutes of Abuja city centre.
The estate will incorporate electricity, solar power and electric vehicle charging facilities, with Kayode stating that the entire estate would be powered by solar energy.
He added that about 20 hectares had been designated for a commercial district comprising hotels, shopping malls and other businesses.
The commercial area, he said, would provide investors with opportunities to acquire land, develop businesses and generate income through rentals and leases.
Kayode further assured prospective buyers that the project had genuine title documentation, noting that the land had a Certificate of Occupancy issued by the Federal Capital Development Authority (FCDA).
The groundbreaking ceremony brought together stakeholders in Nigeria’s real estate sector and formally marked the commencement of construction of the 2,400-unit The Embassy Estate.