Chinese developers to invest in Nigeria mass housing scheme

As part of measures to bridge the rising accommodation and shelter gaps in the country, Chinese investors have expressed readiness to invest in mass housing schemes for low and middle income earners across the country. The Manager, One Belt One Road Financing Operation in China, Mr Jin Changsheng, made the promise on Wednesday in Abuja […]

As part of measures to bridge the rising accommodation and shelter gaps in the country, Chinese investors have expressed readiness to invest in mass housing schemes for low and middle income earners across the country.

The Manager, One Belt One Road Financing Operation in China, Mr Jin Changsheng, made the promise on Wednesday in Abuja at the Affordable Housing Summit, organised by Zvecan Homes and Estate.

He said that Chinese infrastructural development has been steady for 30 years and that their wealth of experience would go a long way in addressing the housing and infrastructural deficit in Nigeria.

He said his organisation would make efforts to attract other Chinese investors to Nigeria.

The summit themed, “Attracting Foreign and Local investors, for Housing Construction and Acceptable Business Models for Infrastructure Development and Equity Plan Scheme for Mortgage Financing in Nigeria”, also witnessed the unveiling of a 3,000 housing units in four locations in the FCT.

“We have gone round Abuja and we have seen the deficit in infrastructure, we are here to help and ensure that houses are affordable for Nigerians. We understand what it means to lack infrastructure and we will commence the process soon,’’ Changsheng said.

The Managing Director, Zvecan Homes and Estate, Mr Nicholas Ogbede, noted that large populations of low and middle income earners live in semi planned settlements around the FCT.

He said that, utilities and basic amenities were limited in these settlements and the distance from the suburb to the city centre where their offices are located affect the work output of public servants negatively.

He said, “To deliver affordable mass housing stock particularly targeting the low income bracket, the FCT needs its specific housing policy, comprehensively framed to address its peculiarities. Proximity to the hubs of the National Rail, transit way line and along major regional routes should also be considered.”