Federal Capital Territory Administration (FCTA) has tasked real estate agents, companies and investors to invest in the housing and infrastructural sector of the FCT.
Minister of State for the FCT, Oloye Olajumoke Akinjide, made the call yesterday while commissioning 44 housing units at Olympia Estate in Kaura District, beside Games Village.
The minister, who was represented by the Chairman, Abuja Municipal Area Council (AMAC), Hon. Micah Jiba, said the addition to the housing stock in the territory is a welcome development that should be emulated by investors.
She said: “All over the world, the provision of affordable housing is recognised, not only as an important intervention to improve the living standards of the people, but also as a catalyst for socio-economic transformation of the town.
She said the housing deficit in the country was estimated at 17 million housing units out of which FCT is said to account for between 5 to 10 percent of the shortfall, due largely to the massive influx of people into the FCT.
She added: “Figures from the 2006 census puts the FCT population at about 1.6 million and today, that population has grown to about 5 to 6 million, with only 11 districts developed in the three and a half decades of the existence of the territory. However, a recent forecast estimates that the population growth of the FCT is expected to hit 10 million by 2025.”
In this vein, she said, the administration vision is to build a capital that will be among the best 20 cities in the world by the year 2020.
“To achieve this we will need the help of the private sector. I therefore use this opportunity to call on reputable real estate firms to emulate the good example of the Oasis Realty by investing in housing and infrastructural sector of the FCT,” she said.
The developer, Oasis Reality Limited, Group Managing Director, Wale Adegbite, in his welcome speech, said the idea of developing the estate goes beyond just business purpose.
He said: “We were driven by a passion to deliver spacious homes for our subscribers in such ambiance that gives a sense of joy and fulfilment at every thought of returning home from the day’s tasks.”
He said the estate which provides 44 housing units is sited on a land area of about 17, 100m2 that consist of 16 semi-detached houses of 4 bedrooms, 12 terrace houses of 3 bedrooms and 16 luxury flats of 3 bedrooms.
