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FG to encourage increased private sector investment in housing industry

The Federal Government has emphasized the need for increased involvement of the private sector in housing development to address the deficit within the industry.
During the groundbreaking ceremony for a 480-unit housing project in the Kukwaba area of Abuja, Minister of Housing and Urban Development, Ahmed Dangiwa, highlighted the importance of private sector participation in the government's new housing and urban development initiatives to alleviate the housing shortage in the nation.
 
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Citygate Homes is undertaking the project, encompassing phases II and III of its Kukwaba housing project. The development consists of 480 housing units, including 6-bedroom semi-detached duplexes and 4-bedroom blocks of flats.
Minister Dangiwa hailed this endeavor as a significant contribution to ongoing efforts by the ministry to tackle the housing crisis. He commended Citygate Homes for aligning with the government's vision for sustainable urban development, emphasizing the collaborative efforts between the public and private sectors.
Amidst the increasing demand for housing in rapidly growing cities like Abuja, Minister Dangiwa stressed the project's potential to not only provide shelter but also generate job opportunities, spur economic growth, and enhance the local community.
Assuring continued support for private-sector investment, the minister urged companies to prioritize sustainability, inclusivity, and affordability in their housing and urban development initiatives.
He specifically urged Citygate Homes to allocate a percentage of the housing units as affordable housing, catering to the needs of average Nigerians. Drawing inspiration from the ministry's housing plan, which focuses on creating integrated communities with diverse housing types, Dangiwa encouraged property developers to adopt similar strategies.
 
 
The minister underscored the importance of incorporating eco-friendly designs, embracing technological advancements, and meeting the diverse needs of society, particularly low- and medium-income earners.
In addition, he called for transparency, timely execution of units, and adherence to the highest building codes and standards. Emphasizing the ministry's commitment to inclusivity, Minister Dangiwa outlined a strategy where profits from high-end home sales would subsidize units for low- and medium-income households.
Citygate Homes' Managing Director and Chief Executive Officer, Michael Ejiogu, affirmed the company's dedication to partnering with the govedw321trnment to bridge the housing gap in the country. He assured that Citygate Homes would work towards ensuring affordability for medium-income earners in Nigeria and highlighted the company's existing commitment with nine ongoing projects in Abuja.
 
Source: GaurdianNG

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