EchoStone has signed an agreement with the Lagos State government to build 2,500 affordable housing units within Lagos State. Anders Lindquist, Founder and President, Business Development at EchoStone joins CNBC Africa to discuss the progress made so far.
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In order to bridge the huge housing deficient in Lagos State, a property development firm, EchoStone Nigeria Ltd on Tuesday, delivered its first set of houses exactly 14 days from the date of commencement of construction.
The firm in collaboration with the Lagos State Government on Nov. 21, laid the foundation for speedy construction of 2,000 housing units in three Local Government Areas (LGA) of the state.
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A property development firm, EchoStone Nigeria Ltd., in conjunction with the Lagos State Government yesterday laid foundation for speedy construction of 2,000 housing units in three Local Government Areas (LGA) of the state. News Agency of Nigeria (NAN) reported that EchoStone was deploying a new technology that would allow construction of several houses by the day. Already, the firm had begun the project which would drive mass housing delivery in Lagos with the construction of 250 units of two bedroom flats in Idale in Badagry council area. The ground-breaking event for the Badagry estate was held at the Lagos State Vocational Education Centre compound in Agidingbi where EchoStone began construction of a prototype.
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Co-founder and CEO of EchoStone Anthony Recchia says Nigeria’s ease of doing business policy has encouraged private sector investments, in the country’s housing sector. He discussed Echostone’s strategy for tackling housing deficit and the role of technology in providing solutions with CNBC Africa’s Christy Cole.
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To encourage companies to invest in sustainably-designed buildings, Nigerian Mortgage Refinance Company (NMRC) and the International Finance Corporation (IFC), a member of the World Bank Group, have launched the EDGE green building certification system in Nigeria to jumpstart the mainstreaming of resource-efficient buildings across the country in a fast, simple and affordable way.
An innovation of IFC, EDGE (Excellence in Design for Greater Efficiencies) is a certification system for new residential and commercial buildings that enables design teams and project owners to assess the most cost-effective ways to incorporate energy and water saving options in their buildings.
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