In its quest to lower the entry barrier to homeownership for middle-to-low-income Nigerians, Alpha Mead Development Company, AMDC, has partnered with the Enugu State Government to develop 750 affordable housing units for civil servants in the state.
The estate, Coal City View Satellite Estate will comprise of one, two and three-bedroom housing units; and will come with social and economic infrastructure such as schools, shopping mall, medical centres, security, and 24 hours water and power.
Speaking during a courtesy visit to him by the board and management of Alpha Mead Group last week, the Enugu State Governor, Rt. Honourable Ifeanyi Ugwuanyi commended Alpha Mead for the role it is playing in the affordable housing space and how the development team has demonstrated capacity since the groundbreaking on the Coal City View Estate five weeks ago.
He expressed satisfaction with the pace and quality of work, noting that the State Government will ensure that the civil servants of the state got the best.
“We don’t joke with the welfare of our people; they are the life-blood of our administration and state. So, it is deliberate that we decided to work with an organization like Alpha Mead who has a pedigree for quality and sustainable development. We will support you and encourage you to do more”, the Governor promised.
Responding to the Governor’s steers, Mutiu Sunmonu, Chairman of Alpha Mead Group – the parent company of AMDC -noted that the project is very important to Alpha Mead and the presence of the board and management in the state is to assure the governor and people of Enugu State that the board is putting its weight behind the project.
“This project is important to us because it is another testimony of our commitment to frontally address the issue of affordable housing in Nigeria. Beyond the positive socio-economic impact that it will have on the government and people of Enugu state, we also want to use it to prove the public-private partnership model to affordable housing in Nigeria; and we are happy that Enugu State is taking the lead in the innovative approach to address the perennial housing shortage that is slowing down our social and economic life as a nation”.
“For us at Alpha Mead, it is a strategic decision to venture into affordable housing. We want to see more Nigerians own a home. It is for us, about the impact and we are committed to staying true to this for the long run. We believe there is a lot for other states to learn from this relationship with Enugu state;so, we are using this opportunity to call on other State Governments to embrace this kind of PPP approach to housing development”.
According to Chukwuemelie Agu, General Manager of the Enugu State Housing Development Corporation (ESHDC), the estate will be in two phases of 350 and 400 respectively with the first phase expected to be delivered by Alpha Mead before the end of the year.
“This is a very cardinal project for us as a corporation. Our governor cares very much about the people of Enugu state and he has given us his steers to ensure completion promptly and make homeownership a reality for our people”.
From what we have seen so far, we believe we have the right partner in Alpha Mead Development. Of the initial 100 units, the company has reached over 70% in less than six weeks. We are happy about the progress, speed, quality and capacity that they have brought to this project”, he enthused.
Conducting the Governor and leadership of the state labour and trade union congresses on a tour of the site, Damola Akindolire, Managing Director of AMDC explained that so far 40 units of one and two bedrooms respectively and 20 units of three bedrooms are at different stages of development. He expressed satisfaction with the support from the management of the ESHDC, noting that AMDC will remain committed to giving Enugu State civil servants not just housing, but a home that they will be proud of.
“We are about safe, secure and comfortable places. And we are not holding anything back in bringing that same quality and thinking to this project. We are the only Real Estate development company in Nigeria today certified to ISO 9001:2015. So we assure off-takers of this project of quality and timely delivery”, he concluded.
AMDC is the developer of Lekki Pearl Estate, the only residential estate in Nigeria certified to the World Bank’s International Finance Corporation’s EDGE-Advanced standards. Besides the Lekki Pearl Estate, the company also has an affordable monthly homeownership product called Green Park Estate.
At Green Park Estate customers can own a home with as little monthly contribution as N50,000. They are also guaranteed access to the National Housing Fund (a product of FMBN) mortgage of up to N15million payable over 25 years at an unbeatable 6% interest rate. The company also has products for customers who may be interested in monthly home rental, real estate crowdfunding and landed investment.