Abuja traders commence work on housing units

The ceremony which attracted Abuja traders, officials of the Federal Mortgage Bank of Nigeria (FMBN) and FHA was held on the site of the project in Kubwa by Arab Road. Kubwa is a satellite town in FCT. This first phase has the capacity of 350 housing units which the developers said will be delivered in seven […]

The ceremony which attracted Abuja traders, officials of the Federal Mortgage Bank of Nigeria (FMBN) and FHA was held on the site of the project in Kubwa by Arab Road. Kubwa is a satellite town in FCT.
 This first phase has the capacity of 350 housing units which the developers said will be delivered in seven months.
President of NANTs, FCT chapter Prince Edozie Ugwu expressed, “Today, we’re happy to announce that a site has been procured in partnership with developers to have this housing project.
“We applied to the Federal Mortgage Bank and we met the conditions we needed to meet.”
Similarly, the elated chairman of Dei-Dei International Market Timber Traders Association, Chief Peter Ezeadua said, “Gone are the days we in the unorganized sector never benefitted from government policies on housing. With the advent of cooperatives, we thought together to go into housing project.”
Over 500 traders have already put down stakes in the project. “As they pay, we increase the capacity to accommodate them,” Ezeadua said.
The “Affordable Home Ownership Scheme” is driven by NANTs Cooperative Society Limited.
The developers are Onos International Nig. Ltd and the Databridge Int’l Nig. Ltd and financiers are FMBN in collaboration with FHA.
A unit of two-bedroom apartment costs N4.5 million and N7.5 million, depending on the location; while the three-bedroom apartment is from N7 million.
Additional sites for the  project are in Zuba, kubwa and Gorah.