SOURCE:
NIGERIA MORTGAGE REFINANCE COMPANY
EchoStone Housing (EchoStone), a leading global provider of efficient Housing systems and the Nigeria Mortgage Refinance Company Plc (NMRC), Nigeria’s foremost Mortgage underwriter, have gone into a partnership to address one of the nations’ most pressing issues, which is to improve the operational efficiency of delivering commercially viable, qualitative and affordable housing.
The Memorandum of Understanding (MoU), which was executed on the 19th of July 2017 will foster a partnership between NMRC and EchoStone to work towards the provision of housing finance, project advisory and structuring to increase affordable housing stock to drive mortgage creation and penetration in Nigeria. The agreement is also expected to promote knowledge, technological transfer and support between EchoStone and NMRC in relation to the residential Real Estate market in Nigeria.
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The Lagos State Government has signed a Memorandum of Understanding, MOU with EchoStone Development Nigeria Limited to deliver 2,000 housing units in three locations across the state.
The MOU was signed at the Ministry of Housing, Alausa, in Ikeja, Lagos, Southwest Nigeria on Wednesday, with the leadership of EchoStone USA present.
EchoStone is expected to deploy a new technology that will facilitate the construction of houses in record time and deploy its money while the state government will provide the land and others.
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