… as Dangiwa urges APDC to explore the idea of raising funds
Housing and Urban Development Minister, Ahmed Musa Dangiwa, has reinstated the readiness of his Ministry to partner with the Abuja Property Development Company (APDC) to enable them key in to the ministry’s Renewed Hope Cities and Estates project across the nation.
Dangiwa stated this when he received in the audience the delegation from the company, led by its Acting Managing Director, Akeem Aderogba.
He said the delivery plan of Renewed Hope Cities and Estates is hinged on PPP, urging it to engage with the PPP department of the Ministry in order to key in to the programme.
The minister underscored the significance of knowledge sharing with APDC in the sale of the ministry’s bulk of houses, saying that APDC has a success story for the ministry to learn from.
” I like to know your experiences in selling these house and your assessments over demands of the types of houses in FCT ” he stated
The minister added that leveraging on the experiences of APDC has become necessary and imperative, saying it is the first time the housing ministry is going into the huge volume of housing units for sale.
He noted that, APDC has a robust marketing department through which houses constructed by the company are comfortably sold to the public.
Commending APDC on the strong and effective management of their facilities accross the country, the Minister noted that, APDC Homes are properly managed, requesting the company to avail his staff of the knowledge on facility management and how to improve on it.
On renew hope estates and cities, the Minister explained, that the estates part of programme are planned specifically for low and middle income earners most of whom are of the organised labour and unions.
He added that the types of houses constructed in the estates are one to three bedrooms bungalows and are sited in the six geo-political zones of the country.
He stated further that, the Minister said that the Renewed Hope Cities and Estates is aimed to avert social inequality, providing a broad range of affordable ownership for both cities and estates, adding that, the option of getting the houses would include single digit loan and mortgage facility provided by the Federal Mortgage Bank of Nigeria, as long as interested buyers are contributors of National Housing Fund, NHF.
He also mentioned other options of purchase open to Nigerians to include the Rent-to-Own, Outright and Installment purchases, apart from the mortgage facility.
Meanwhile, the Minister has advised Abuja Property Development Company to explore the idea of raising funds through the capital market in order to provide houses for different classes of citizens in Nigeria.
” With adequate capital, the property company could provide houses for low and middle income earners as well as the high income earners” he stated
To effectively, accommodate the low, middle and high income earners, the Minister advised the management of the APDC to reduce the specification for structures meant for low income earners and increase that of high end earners, suggesting they could be sold with 10% interest for low end earners and 20% for high end earners.
Speaking earlier, the Acting Managing Director APDC, Akeem Aderogba, said there were in the ministry to inform the minister of their request to key into the Renewed Hope Cities and Estates programme.
Aderogba noted that APDC is a property development company who has grown from developing one estate in Gadi district, Abuja to four homes which are currently simultaneously developed and has never had a court case due to inability to deliver their mandate to Nigerians, pledging not to disppoint the Minister if request is granted.
In a statement signed by Badamasi Salisu Haiba, Director of Information, Aderogbas listed the APDC Homes to include APDC Capital Homes in Kaba, Gadi district, APDC Homes in Karsana, APDC Homes, Dongwari, Life Camp and APDC Homes in Millennium City, Kaduna, Kaduna state.
