REDAN, World Bank collaborate to deepen real estate & housing development

The partnership which was facilitated by the Project Implementation Unit (GEMS) of the World Bank had its emphasis on Mass & Affordable housing  to enhancing growth & employment in Nigeria.The workshops which started in Abuja in December 2014 also took place in Lagos, Calabar and ended in Kano. The focus was to enlighten REDAN members on […]

The partnership which was facilitated by the Project Implementation Unit (GEMS) of the World Bank had its emphasis on Mass & Affordable housing  to enhancing growth & employment in Nigeria.
The workshops which started in Abuja in December 2014 also took place in Lagos, Calabar and ended in Kano.
 The focus was to enlighten REDAN members on Standardization of Processes and Products in housing construction and development and a planned Guarantee Fund Scheme to serve as collateral to Financial Institutions by members who take facilities for mass and affordable housing.
At the Kano workshop, the President of REDAN, Rev. Ugochukwu Chime informed REDAN members that the National Executive Council which was elected in February 2015 to steer the affairs of the association has resolved  to partner with financial institutions to provide members with construction finance to enable them provide mass and affordable residential housing to Nigerians.
He said that the effort is to reduce the housing deficit which is presently put at about 17 million units.
“And one way that can be ensure is to utilize the Guarantee Fund Scheme which is being packaged for Members by the World Bank and the Project Implementation Unit. The sum total of the efforts is to make Construction Finance seamlessly available to members who actively key into the scheme and participate in the process delivery criteria of the International Finance Institution,” he said.
In his paper entitled ‘Quest  for Standardisation  of Processes and Products in Housing Development, Chairman, Council of Registered Builders of Nigeria(CORBON ),  Prof. Kabir Bala  said  that the scope of standardisation should cover planning, design, management of production process, and the rights of house owners/users.
He enjoined developers and would-be -house owners to conform to rules and procedures in the face of the challenge of sub-standard houses in Nigeria; which he said should be of utmost concern to everyone.
“Existing statutory provisions should be fine tuned.  Regular reviews of the standards are necessary to identify deficiencies and addressing them. Exercising   the   powers   vested   in   them   is non-negotiable in order to check the excesses of non- committed developers and contractors. Preventing such entities from being part of the business of housing development will help in sanitising our built environment.’’
The Project Coordinator of PIU Alh. Y. S. Labaran in his paper stated that the construction industry’s contribution to our gross domestic product by international standard remains below expectation.