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17m housing deficit: FG orders sale of completed houses within 3 months

By on December 29, 2014

The federal government has ordered that all completed government houses being built under the Public Private Partnership (PPP) contractor finance scheme be sold at affordable prices under its mortgage scheme with the next three months.

Speaking during an inspection tour of some of its houses still under construction in Abuja, during the week, the new Managing Director of the Federal Housing Authority (FHA), Prof. Mohammed Al-Amin, said: “Within the next three months we have given our contractors, as well as our staff a marching order to ensure that all completed houses are sold at affordable price within a mortgage arrangement.“

He said a new marketing strategy must be adopted to sell the houses so that capital expended can be recouped.

“I told him (CEO of ENL limited) that their marketing strategy and on our own part must be revisited, what we are thinking now is to market our products through proxies instead of the little staff that they have, we intend to have agents to market these products and just yesterday, we have decided to put our houses and holdings that would be of interest to buyers on papers in fliers and pamphlets to be distributed in hotels, airports and other public places.” he said.

He said FHA is developing alternative source of affordable raw materials to bring housing cost to a minimal level, adding that a house of N9 million or N10 million will not be affordable by Nigerians in remote areas.

“We have given our technologists the mandate to develop cost effective alternative sources of raw materials for housing production. We have also agreed to de-freeze some of the capitals that we have to inject them into the system, so that we have enough liquidity in other areas that were given to us by government both in Lagos, Abuja and other areas.” he said.

 

[ThisDay]