Naomi Gabriel —
The Federal Capital Territory Administration (FCTA) has said that it is ready to woo the private sector in addressing housing deficit confronting the nation’s capital, Abuja.
FCT Minister of State, Dr Ramatu Aliyu, gave this indication at the inauguration of Oak Homes brand and the groundbreaking of the maiden development of The Oak Villas and Victor’s Court held in Abuja yesterday.
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Represented by her Special Assistant on Technical Matters, Mubdiyu Mustapha, Aliyu identified high cost of land registration and irregularities of land titles, policy implementation somersaults, licencing issues, inadequate funding as some of the challenges facing the housing sub-sector.
While assuring that the FCT Administration was working assiduously to address some of the challenges, she said it will enable the private sector feel encouraged to invest more in affordable housing provision
“In this wise, the FCT Administration is willing to engage in Public-Private-Partnerships that can guarantee accelerated delivery through the provision of land and on-site infrastructure, she said.
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“With these costs borne by the administration, it is expected that developers such as Oak Homes are able to bring cheap funds to the table for the construction of the houses, thereby guaranteeing unit selling prices that are affordable to the target market segment.
” We shall therefore continue to work with the private sector and development partners to ensure that continuous progress is made in this direction,” she said.
The Chief Executive Officer of Oak Holdings, Olukayode Olusanya explained that the project was designed to echo architectural magnificence in luxury buildings and finesse in real estate engineering.
He also that the Oak Villas would also redefine the concept of luxury living in Abuja.