Shelter Afrique the Pan-African finance institution exclusively supporting the development of affordable housing and real estate sector in Africa has signed an MoU with the Nigerian Police Force for the delivery of affordable housing units to the police force cooperative.
The MoU will see the parties come together to execute a housing programme with a 25000 benchmark in view, with the first phase delivering 3000 units between Abuja, Lagos, Ogun and five other operational zones. It is anticipated that the NPF will provide land for development and Shelter Afrique providing 70 per cent of debt financing.
The Nigerian Police force indicated that the rationale behind this was to improve the welfare and standard of living of its personnel through the provision of quality and affordable housing, they continued that they expect that increases in welfare would be proportional to increases in service delivery.
Shelter Afrique added that the project met all its key criteria, especially affordability and quality of design and product, they continued that they were especially keen to have the project delivered in a timely fashion.
The Mou also brings in Powerchina Kunming Engineering as the contractors for development, it is expected that the feasibility study for the first phase will be concluded in December 2015”.