Developers Target 3,000 Jobs As Housing Deficit Hits 14.98m Units

The Real Estate Developers Association of Nigeria (REDAN) has said a new 2,400-unit housing estate in Abuja will create more than 3,000 jobs, as the association highlighted Nigeria’s deepening housing deficit, now estimated at 14.98 million units.

The vice president of REDAN, Abuja Chapter, Dr Gbadewole Kayode, has said the development of a 2,400-unit housing estate in Abuja will generate more than 3,000 jobs while helping to bridge the country’s housing deficit.

Kayode disclosed this at the groundbreaking ceremony of The Embassy in the Federal Capital Territory (FCT).

He said the project was conceived as part of efforts by private developers to increase the volume of housing available to Nigerians, particularly residents of the FCT, where rising demand has continued to put pressure on available accommodation.

According to him, Nigeria’s housing deficit currently stands at about 14.98 million units, making increased private-sector participation and innovative approaches to housing delivery critical to addressing the challenge.

“We are committed to reducing the housing deficit, especially in the FCT, and that is why we are doing the groundbreaking of The Embassy,” Kayode said.

He explained that the development would incorporate energy-efficient and smart-home features, noting that changing consumer preferences were forcing developers to rethink the design and infrastructure of modern residential estates.

Kayode said the developers were also introducing flexible payment arrangements to enable low-income earners to acquire homes, explaining that eligible buyers could make an initial payment and spread the outstanding balance over six months.

He added that some of the housing units would be made available through mortgage arrangements in collaboration with the Federal Mortgage Bank of Nigeria (FMBN) and Primary Mortgage Institutions.

Beyond housing delivery, Kayode said the project was expected to have a significant economic impact through employment generation. He disclosed that more than 3,000 direct and indirect jobs were expected to be created during the construction and development of the estate.

He explained that the labour requirement for constructing individual housing units was substantial, noting that a single duplex could engage more than 30 workers at different stages of construction.

The REDAN vice president said The Embassy would also feature a major commercial district covering approximately 20 hectares, creating opportunities for investors to develop hotels, shopping malls and other commercial ventures.

He said the estate would be powered entirely by solar energy and would include facilities such as electric-vehicle charging points, adding that prospective residents were increasingly demanding estates with reliable infrastructure and convenient access to Abuja’s city centre.

Kayode further assured prospective investors and homebuyers that the property had genuine documentation, stating that the land had a Certificate of Occupancy issued by the Federal Capital Development Authority (FCDA).

The groundbreaking ceremony brought together stakeholders in the real estate industry and formally marked the commencement of construction of the 2,400-unit development, which the promoters said was targeted at expanding housing supply while creating economic opportunities in the FCT.