Housing Deficit: EchoStone Plans 500,000 Homes
Real estate development firm, Echostone Nigeria, says it plans to build 500,000 houses over the next 10 years using innovative technology as part of its contribution to reduce the country’s housing deficit.
The Director, Echostone Nigeria, Mr Sammy Adigun, said with the company’s technology in building construction, it had the capacity to construct four units of houses in 14 days using one aerocrete machine.
He made this known during the visit of the Ambassador of Sweden to Nigeria, Carl Grans and Deputy Head of Mission, Sweden Embassy, Fanny Nylander, to Echostone Nigeria’s facility which houses the prototype of a two-bedroom apartment constructed by the company.
He stated that the company’s technology was imported from Sweden, adding that Echostone had the capacity to provide 50,000 homes in one year, 350,000 units of houses in seven years and half a million in 10 years.
“We already have an agreement to build 15,000 homes for the federal civil servants and 100,000 homes for the Nigeria Police Force,” he said.
According to him, the company will be sending one of its engineers to Sweden to further enhance his skills and expertise of using the aerocrete machine and other technologies.
Adigun stated that with more capital and investment, the company could bring Nigeria’s housing deficit to the barest minimum.
The ambassador said he was amazed the technology was available in Nigeria and had been used to achieve results in the real estate industry.
“It is applaudable that Nigerians can now experience green and eco-friendly homes that are cheap for the first time as well as helping to bridge the housing deficit,” he said.
According to Grans, such projects are viable for the future of Nigeria and should get a lot of support.