The Embassy estate in Wasa District will feature solar power, flexible payment plans and a 20-hectare commercial district.
The Real Estate Developers Association of Nigeria (REDAN), Abuja Chapter, has reaffirmed its commitment to reducing Nigeria’s housing deficit through increased housing delivery and innovative financing.
The association’s Vice President, Abuja Chapter, Dr Gbadewole Kayode, made the disclosure during the groundbreaking ceremony of The Embassy, a 2,400-unit housing estate in Wasa District, Abuja.
Kayode, who is also Chief Executive Officer of Crown Allied Global Realty, said the project would contribute to addressing the housing shortage, which he put at 14.98 million units.
“Officially, we have a housing deficit of 14.98 million in Nigeria,” Kayode said.
He added that the company was committed to reducing the deficit, particularly in the Federal Capital Territory.
Estate targets affordable home ownership
Kayode said The Embassy would provide energy-efficient homes while increasing housing supply across the FCT.
He said the developer had introduced flexible payment arrangements to make home ownership more accessible to low-income earners.
According to him, eligible buyers can pay part of the cost upfront and spread the remaining balance over six months.
The company also plans to offer blocks of flats through mortgage arrangements in partnership with the Federal Mortgage Bank of Nigeria and other Primary Mortgage Institutions.
Project expected to create over 3,000 jobs
Kayode said the development could generate more than 3,000 jobs during construction.
He explained that building a single duplex requires the services of more than 30 workers.
He said multiplying the labour requirements across 2,400 housing units would create a significant employment impact.
Solar-powered smart estate
Kayode described The Embassy as a smart estate designed around the changing needs of residents and investors.
He said prospective homeowners increasingly seek developments within 15 to 20 minutes of Abuja’s city centre.
The estate is expected to provide electricity through solar energy and include electric vehicle charging facilities.
The development will also feature a commercial district covering about 20 hectares.
According to Kayode, the commercial area will include hotels and create opportunities for investors to develop shopping malls and other businesses.
Investors could also generate income through rental and lease arrangements, he added.
Developer assures buyers on documentation
Kayode assured prospective buyers that the property documentation was authentic.
He said the land had a Certificate of Occupancy issued by the Federal Capital Development Authority.
The groundbreaking ceremony attracted stakeholders from the real estate sector and formally marked the commencement of the 2,400-unit housing development.
