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Housing deficit: PMI reduces gap with 249-unit Aso Gardens Estate in Abuja

By Kingsley Adegboye

The huge housing deficit in the country which is in the range of 18 million units could be drastically reduced if the clamour for partnership to salvage the troubled nation’s housing sector is taken seriously among the stakeholders as exemplified with the delivery of 249-unit housing estate known as Aso Gardens Estate, Karsana, Abuja, by Aso Savings and Loans Plc, a primary mortgage institution, PMI, operating across Nigeria.

Aso Gardens Estate, Abuja
Aso Gardens Estate, Abuja

The residential estate which is the phase1 of the two-phase project was conceived by Aso Savings and Loans Plc in partnership with Global High Property Development Company. The cost of the estate located on five hectares of land just after Gwarinpa, along the Kubwa Express Road beside the Papal Ground within Karsana East District which is part of Abuja Phase IV, is put at whopping N10 billion.

There is no doubt that if this gesture is emulated by other PMIs in the country, the current housing gap will be drastically reduced.

To provide the ultimate lifestyle experience, the estate is in a serene environment and displays high quality infrastructure, recreational area and civic facilities. The project is expected to raise the bar in housing projects delivery in the FCT and the country.

The estate comprises 249 housing types made up of 129 units of two-bedroom apartments, 117 units of three-bedroom apartments, three units of four-bedroom terrace houses and associated external works..

Speaking during the official commissioning of the residential estate solely financed by Aso Savings and Loans Plc,  the Managing Director of Federal Mortgage Bank of Nigeria, FMBN, Ahmed Musa Dangiwa, who led dignitaries on a tour of the estate commended the Board, Management and Staff of Aso Savings and Loans Plc for successfully completing a project of this magnitude in spite of the challenging economic environment in the country.

According to him: “This project is a landmark achievement not only for those directly involved but for Nigeria as a whole given our difficult journey towards addressing the nation’s housing shortage. This is not only in recognition of the fact that housing development translates into provision of shelters for our citizens, it is laso in realisation of the place of housing as a critical element in any nation’s economic strategy.

“This case is further worsened by high urban migration with the attendant stress on infrastructure. Thus, most of these people are forced to live in sub-standard housing environments,” Dangiwa noted.

In his goodwill message, Chairman, Board of Directors of Aso Savings and Loans Plc, Alhaji Ali Magashi, said: “For those of you stakeholders, you know what a tough economic operating environment has been for primary mortgage banks in Nigeria, as such, the delivery of the estate is no small feat for Aso.

“It is for this reason that the board and management thank all staff for their continuous effort and commitment to weather the many storms and make Aso the true leader that it is,” Magashi stated.

On her part, Executive Director, Aso Savings & Loans Plc, Risikatu Ahmed said: “I am, therefore, on behalf of the management and staff of Aso Savings and Loans Plc, under the leadership of a great man, I am delighted to say, we are witnessing the official opening of Phase 1 of this estate which promises to bring more meaning to the housing growth within the FCT and the nation.”

Risikatu added that the successful completion of the project is a further testimony to Aso Savings’ vision to be the mortgage bank of choice in Nigeria in terms of client service and housing provision for the citizens.

According to her: “The successful completion of this project in spite of the daunting challenges due to the difficult operating environment attests to the doggedness of our management team and our never say fail spirit no matter how intimidating the odds are. We are determined to continue to meet the expectations of our stakeholders.”

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