Firm to partner government, banks to deliver 1m houses
By Yinka Kolawole
GEP Nigeria Limited, a joint venture between GEP (BVI) Limited of the Republic of Oman and the Nigerian based TBF Group, is set to partner with state governments, banks and major land owners in Nigeria to provide one million affordable houses in the parts of the country.
Country Director, GEP Nigeria Limited, Mr. Tarry Rufus, said in Lagos that the core vision of the joint venture is to partner with both public and private sector stakeholders in delivering new communities of both affordable and luxury homes in different parts of Nigeria, believing that this would produce sustainable and long term socio-economic growth and development in the country.
He said that the housing plan in each community would be fashioned along the European standard mixed-use developments with facilities such as paved roads, drinkable water, power, schools, hospitals, club houses and gas stations.
“Each community will include European standard mixed-use developments with facilities such as well paved roads, clean drinkable water, power, schools, hospitals ,club houses, gas stations, police posts, shopping malls/commercial centers, intelligent transport systems, smart telecom solutions, well thought out security, and proper estate management services for sustainability and communal excellence,” he assured.
Rufus asserted that the firm’s on-going projects in the country would reflect excellence in community delivery, noting that Nigeria is long over-due for strategic infrastructural development. According to him, “as the seventh largest producer of crude oil with an ever-increasing population expected to hit 200 million by 2050; a fast growing middle class; an incredible purchasing power; transformation agenda of the Goodluck Jonathan administration, as well as the strong desire of the average Nigerian to own a home, Nigeria is the next destination for discerning investors like the GEP Group.
He discouraged Nigerians from capital flight, urging those with financial wherewithal to invest in the country, adding, “from every available indices, Nigeria is one of the most profitable place to do real estate and other businesses in the world”.
He noted that the group has access to resources for investment in infrastructure in Nigeria.
