In order to curb housing deficit in the country, Federal Housing Authority (FHA) has commenced the development of its Renewed Hope Estate in Osogbo, Osun State.

The groundbreaking ceremony of the partnership project with Summit Group Limited was carried out Thursday by the Managing Director and Chief Executive of FHA, Hon Oyetunde Ojo.

Represented by the Executive Director Estate Services, Arc Nya- Etok Ezekiel, Hon Ojo, in his remarks, noted that the estate is an embodiment of FHA’s signature in not only building houses, but creating livable environments that meet all standards.

Housing deficit issues

The MD/CE noted that Federal Housing Authority is undertaking the project mindful of the housing deficit faced in the country, “which government alone cannot tackle.”

“This project, in partnership with Summit Group Ltd, will provide a mixed use development comprising residential units, commercial spaces and recreational centers designed to meet the needs of families, workers and entrepreneurs.

“Federal Housing Authority undertakes this project mindful of the urgent housing deficit facing our nation. Government alone cannot bridge this gap. That is why FHA has embraced Public-Private Partnership as a Central delivery model,” he said.

Going further, he said that FHA’s collaboration with Summit Group Ltd exemplifies the shared- risk, shared – value approach that produces faster delivery, higher quality outcomes and greater value for both citizens and investors.

The FHA boss revealed that the management is guided by the clear charge given to it by President Bola Ahmed Tinubu (GCFR), when they assumed office to be bold, accountable and result driven in addressing the nation’s housing challenges.

In response to this, he said FHA re-oriented its strategies and prioritised accelerated project deliver, enhanced land utilization, incorporated design principles and ensures inclusivity so that housing opportunities are accessible to all sections of Nigerians.

Hon Ojo used the occasion to announce that the Authority is set for massive housing construction across the country, having carried groundbreaking ceremonies in places like Uyo, Akwa Ibom, Kaduna, Umuahia, Abia state having carried out the tendering processes of the projects.

He also noted that Federal Housing Authority has in the recent past intensified project delivery efforts through Public Private Partnership in Ogunn state and Abuja, Federal Capital Territory.

To the people of Osogbo and Osun State, the MD assured that, typical of FHA, this project brings a responsible development with a value chain which creates job opportunities that would stimulate the economy of the state.

General Manager gives overview of project

Earlier, the General Manager Partnership and Zonal Cordination, Arc. Peter Okpanachi, while giving an overview of the project, stated that the Estate lies on 33 hectares of land that consist of all modern infrastructure, amenities and utility services.

According to him, there are 241 plots that would be serviced with utilities like water treatment plant, petrol station, hotel, police post, recreational centers, worship centers, FHA Mortgage Bank, a clinic and many others.

Partner demands commitment

The Managing Director of Summit Group Ltd, the partner, Otunba Olalere Olabode, in his remarks, thanked FHA for the trust it has in Summit Group.

He stated that work has started in earnest on the site as can be testified to by the activities on the site.

Otunba Olabode noted that the project is a premium estate going by both the location and concept, but is also tailored on the affordability side.

Describing the estate as a “Federal GRA”, the Summit Chief Executive called on both indigents and other Nigerians to key in to the project, “which assures comfort and safety comparable to any modern estate.”

FHA”s Executive Director Projects Implementation, Engr. Oluremi Omowaiye, in his own remarks, said that the project provides an alternative to the state’s GRA that has been heavily pressurized.

Engr. Omowaiye, while calling on investors to key early into the project, expressed his concern the the project stands to be over subscribed.

He assured that Federal Housing Authority would bring in the expertise and professionalism it is known for in ensuring the delivery of the project.