Chinese Firm to invest $300 Million in Nigeria’s Housing Scheme

Enterprise Television- Chinese Firm to invest $300 Million in Nigeria’s Housing Scheme

The Director, One Belt and One Road, Financial Operation Office, China, Mr. Steven Kim, says Chinese Government through his organization will invest 300 million dollars in Nigeria’s mass housing scheme.

Kim noted that his organization was collaborating with Zvecan Homes and Estate with whom they recently signed Memorandum of Understanding (MoU) to construct 5000 housing units in FCT and its environs.

He said the investment would enable them to realize the aim for which their office was set up in China.

“The aim is simply to support people-oriented projects. We are from One Belt and One Road, Financial Operation Office in China an organization that invests in projects that directly affect the lives of people in Africa.”

“We believe that this is the project that will benefit the lives of the people in Abuja and Nigeria in general and we will be able to finance the project through our office.”

According to Kim, the investment will not only be in cash but in materials like electricity fittings, solar power among others.

Mr Aigbe Osagie, Managing Director, Global Hint Construction Company, China, one of the expatriates’ companies to be used, said such projects were already ongoing in Kenya and Angola.

He further said they had constructed over 5000 houses in Angola and Kenya, adding that they wanted to replicate same in Nigeria.

Osagie explained that the challenge with construction in Africa was majorly the terrain.

He said while the soil in China supported the building of massive high risings the opposite was the case in Africa.

Also, Mr Nicholas Ogbede, Managing Director Zvecan Homes and Estate said the investment by the Chinese government would help alleviate the housing challenges of civil servants.

Ogbede said the Chinese have different technologies in construction that will ensure the drastic reduction in the cost of construction and houses for civil servants and Nigerians.

He said Zvecan Homes and Estate had also signed MoU with the Office of the Head of Civil Service of the Federation to Construct 700 housing units under the FISH Programme.

The Chinese developers had earlier in April 2018 visited Nigeria to carry out a survey and soil test on the construction sites.

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