Developer Introduces New Technology, to Deliver 10,000 Housing Units

With a new technology, Bohemian Estates Nigeria Limited has concluded plans to boost the Nigerian housing sector with the construction of 10,000 IS0 certified housing units at selected locations across the country.

To this end, the firm is sourcing for $250million from Czech Export Bank for the project.

The firm recently met with the management of the Federal Mortgage Bank of Nigeria (FMBN) to explore areas of collaboration particularly for the supply of credits to real estate developers through its Estate Development Loan (EDL) scheme.



Speaking with newsmen after the meeting with the FMBN, the Director of the company and the former Minister of Sports, Hon Bala Ka’ Oje noted that as part of the efforts to introduce Assembly Building-Block System (ABS) construction technology in Nigeria, Bohemian Estates Nigeria Ltd, Czech Export Bank representative & Head of Department (Export Financing), Mr. Marek Jeník met with the FMBN executive management.

He explained that the firm adopted the ABS technology because of the rising demand for housing in the country and the need to provide mass housing of good quality that would stand the test of time.

According to him, the firm got the technology from Czech Republic and wants to introduce the ABS technology to the country due to the benefits inherent in its usage including that such structures hardly catch fire and are eco-friendly and durable.

Ka’Oje, a builder, observed that the proposed houses would be built specifically for the very low-income earners adding that the Federal Capital Territory (FCT) administration has approved seven hectares of land for the project in Gwagwalada.

He disclosed that appropriate measures have been put in place to ensure that only people within the target low-income bracket are allowed to acquire the houses, adding that the firm will soon sign an MOU with the FMBN.

He said to rebuild the North East, government should adopt the ABS technology in order to save time and cost to mass reproduce the houses.

Also speaking, CEO of the company, Rotimi Muyiwa-George said that Bohemian Estates is a special purpose vehicle (SPV) licensed to distribute housing stock for the Nigerian real estate sector using the Assembly Building System (ABS) construction technology in collaboration with Verbundschalungstechnik, VST the inventor of composite formwork technology.

He added that the collaboration with the FMBN would facilitate the construction and delivery of 10,000 housing units during the introductory phase through public sector developers including local, state and federal government agencies, under the existing FMBN Estate Development Loan (EDL) scheme

Sourced-TheGuardian