Abuja:The Abuja Property Development Company (APDC) has commissioned new housing units at APDC Homes in Karasana District and unveiled additional projects at Hilltop Residence, Usman. These initiatives aim to address the housing deficit in the Federal Capital Territory (FCT).
According to News Agency of Nigeria, the announcement was made by FCT Minister, Mr. Nyesom Wike, represented by the Group Managing Director of Abuja Investments Company Ltd. (AICL), Amb. Maureen Tamuno. Wike emphasized that the projects are designed to provide affordable accommodation for various residents, particularly young people.
The completed phase features studio apartments and self-contained one-bedroom units, each equipped with a kitchen and toilet. These units offer an opportunity for young people, school leavers, and single residents to own homes and begin their lives in Abuja. The studio apartments are priced at N15 million each, a cost deemed reasonable given the challenges of securing affordable accommodation in the area.
Wike highlighted that the apartments were quickly sold out, encouraging APDC to look into developing more housing units to meet the growing demand. He urged the company to continue its dedication to affordable housing, noting that homeownership could help alleviate accommodation issues and reduce residents’ vulnerability to social problems.
Mr. Akeem Aderogbe, Acting Managing Director of APDC, reiterated the company’s commitment to providing homes for low- and middle-income earners through diverse housing designs. These options include studio apartments, one-bedroom units, and two-bedroom flats, allowing residents to upgrade as their family sizes and financial situations evolve.
Aderogbe also encouraged young people and civil servants to take advantage of available mortgage schemes, which allow for an initial deposit of about 10 percent, with the balance financed through housing finance institutions. Financing options include the National Housing Fund and the Federal Government Staff Housing Loans Board, subject to eligibility.
Alhaji Bashir Jimoh, Managing Director of Bashmoh Homes Ltd., a partnering developer with APDC, emphasized the need for government support in providing secure land titles and infrastructure. Jimoh noted that secure property titles are essential for accessing mortgage facilities, and without them, many Nigerians struggle to obtain financing. He also called for improved road networks to make new developments more accessible and functional.
Jimoh concluded that better land administration, mortgage access, and infrastructure provision would contribute significantly to making housing more affordable and reducing Nigeria’s housing deficit.