A NOVEL move to increase the housing stock was unveiled in Enugu last week, which may be the latest effort at expanding frontiers of real estate market in the country.The new initiative by one of the leading property firm ' COPEN Services Limited comes by way of a partnership arrangement between some communities and the developer, towards developing urban mass housing schemes and using such projects as an agent of poverty alleviation for the citizens of the state.Already, the scheme has begun to yield fruit and some of the projects, built in collaboration with Ogui Nike community was commissioned by the Minister of Housing, Land and Urban Development, Ms Ama Pepple. The twin projects are known as Goshen and Jubilee estates.The ceremony drew top state, federal ministry officials, and members of the Real Estate Development Association (REDAN) as well as Chief Executive of the Federal Mortgage Bank of Nigeria (FMBN), Gimba Ya'u Kumo. The highlight of the ceremony is the presentation of a commendation certificate by FMBN to COPEN for delivering the project in a record time of eight months.The Goshen and Jubilee estate consist of 180 housing units, comprising of 148 three-bedroom bungalows, 32 units of two bedroom apartments. The estate is a beneficiary of the FMBN's Estate Development Loan scheme, worth N777 million. Already, the units in the estate have been sold out and Messrs COPEN is planning two other estates, namely, Elim and Jedidiah estates.The minister lauded the developer for increasing the housing stock. 'When you give an individual shelter, you give him dignity.' she explained that the draft of the housing and urban development policy will soon be presented to the National Economic Management Team before it goes To the Federal Executive Council for approval.She said that the commissioning is an indication that the government is meeting the objectives of the President Goodluck Jonathan transformation agenda and Vision 20:2020, which recognises the important of housing. 'We have a deficit of 16-17 million houses in Nigeria. The agenda has directed that we build one million houses every year in reducing the deficit.'Pepple is optimistic that social housing will be able to come to the rescue of people in the informal sector such as mechanics, traders and other artisans to enable them own their own houses. She disclosed a new scheme would soon be launched by FMBN.'We want a situation where the informal sector through their cooperative association can be able to afford a house. I'm looking forward when houses will be built for them. The prices of houses today are beyond the ordinary man on the street.'She urged state governors to allocate land to the ministry and build infrastructure for housing estates.The Managing Director, COPEN Services Limited, Rev. Ugochukwu Chime explained that the synergy between the company and communities has accelerated development and current administration in the state has place high priority on the provision of infrastructure and affordable housing.'The current administration has done a lot to improve and promote the development of private estates by allocating sizable parcels of land to private developers for the provision of affordable houses. The government has also granted fee waivers and reductions in order to minimize the cost of perfecting titles for allottees of estates developed under the National Housing Fund (NHF) programme,' he stated.He appealed to the state government to reduce further cost of transaction, adding: 'We still plead for further reduction in the transaction costs for title perfection, which is solely borne by the allottees. Such reduction would enhance affordability and viability of these projects. Your intervention in these areas will attract housing funds to the state and help ensure rapid provision of houses with the attendant employment generation and multiplier effect in the local economy.
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