Estate firm secures N6bn materials for housing projects

Wisdom Kwati City has secured materials worth N6 billion for the construction of its pilot projects in Abuja and Adamawa State, its Chief Executive Officer (CEO), Mr. Wisdom Kwati, has said. In a statement he issued in Abuja, Kati revealed that the firm will commence the construction in September this year. “We are taking off […]

Wisdom Kwati City has secured materials worth N6 billion for the construction of its pilot projects in Abuja and Adamawa State, its Chief Executive Officer (CEO), Mr. Wisdom Kwati, has said.

In a statement he issued in Abuja, Kati revealed that the firm will commence the construction in September this year.

“We are taking off with Adamawa and Abuja simultaneously. We have secured materials worth N4 billion for about 100 units of mixed apartments in Abuja. We have also secured about N2 billion materials for bungalows in Adamawa State,” he said.

He disclosed that the company has global partnerships with five firms and has already secured full corporate offers for the projects.

According to him, the company already has $500 million available for disbursement for commencement of work in the sites.

The CEO also stated that the company has accessed other corporate entities locally that have invested about N2 billion in the projects.

According to him, Wisdom Kwati City has secured lands valued over N10 billion in Lagos, Abuja, Adamawa, Akwa-Ibom and Kaduna.

In his highlights of the smart city estates, he said Abuja estate is about 15,000 housing units on about 105 hectares in Lugbe 1 Extension, just beside River Park and behind Dunamis church.

He explained that the Adamawa State project is located on a 15 hectares land at Namtari, Numan road, just after Welcome to Yola signage.

He also noted that owing to the firm’s determination to address the nation’s housing challenges in a holistic manner, it has decided to build the estates in the 36 states of the federation and the Federal Capital Territory (FCT).

Kwati said the company is granting the public its housing scheme with a soft mortgage plan.

According to him, while other firms allowed a payment period of three years, Wisdom Kwati City provides a 15-year payment model, which is also interest free to its subscribers.

This, he said, is because his company gets its interest rate from its investment platform and not from off-takers.