Property • Created May 11, 2015 04:00

Rock of Ages unveils plan to build 100,000 houses for workers

The TUC President, Comrade Bala Kaigama said the initiative became important to provide affordable housing for the TUC members.Kaigama spoke during the inspection tour of the first cluster of 5,000 housing units of the project in Rock City Estate, Lugbe  in Abuja.He said the project would be supported by the Federal Mortgage Bank of Nigeria […]

Rock of Ages unveils plan to build 100,000 houses for workers
Rock of Ages unveils plan to build 100,000 houses for workers

The TUC President, Comrade Bala Kaigama said the initiative became important to provide affordable housing for the TUC members.
Kaigama spoke during the inspection tour of the first cluster of 5,000 housing units of the project in Rock City Estate, Lugbe  in Abuja.
He said the project would be supported by the Federal Mortgage Bank of Nigeria (FMBN), adding that members of the public who subscribed to the National Housing Fund (NHF) could also benefit from the scheme.
Kaigama said: “We have taken up the challenge of providing affordable houses for our members. We are witnessing the ground breaking ceremony of the first phase which is going to cover 5000 houses until we move to other phases. It was a promise during my electioneering campaign for leadership of the TUC.”
The proposed housing units include 2 and 3 bed room apartment, 3 and 4 bed room Terrace Duplex as well as 4 bed room Semi Detached Duplex and 5 bed room Fully Detached Duplex.
According to the Executive Director, Rock of Ages Properties Limited, Mr. Adike   Chux   the housing scheme is designed to erase the traditional method of saving up millions of Naira before buying a house.
“With your equity contribution of between 20-30 per cent depending on the house type and price, you can move into your house and the balance paid over 30 years via mortgage.”
He explained that private individuals who did not subscribe to the NHF can contribute 30-40 per cent equity and enjoy repayment between one to three years.
The first phase of the housing units which will be built on a 100 hectares of land out of the 443 hectares allocation is expected to be completed in 12 months.

Tags