30 January 2013

Nigeria: Urban Shelter, FMBN Partner Over N1.8 Billion Abuja Brick City

An Abuja-based property development company, Urban Shelter Ltd is partnering with the Federal Mortgage Bank of Nigeria (FMBN) on the development of the Brick City Phase II, along Kubwa expressway, Abuja.

Managing Director of FMBN, Gimba Ya'u Kumo, who stated this when the Minister of Housing and Urban Development Board paid a working visit to the site, said the project is one of the few being partnered on, with the FMBN providing N1,860,000,000, towards the delivery of 700 housing units at the Abuja Brick City.

The Managing Director, Urban Shelter, Mal. Ibrahim Aliyu, said one bedroom flat at the Brick City Phase II will cost N5 million; 2 bedrooms at N8-11 million while a 3 bedrooms will cost about N15 million.

On her part, Minister for Housing and Urban Development, Ms Amal Pepple, described the Brick City as an excellent project. "I'm happy that they are using mainly locally produced materials because this is what we want to see. The bricks are here.

"The chairman just told me that even tiles are locally produced. He said it is just few things that are being imported.

"That does two things, one is the fact that it reduces the cost of the buildings because you are not paying for importation of most of the building materials; secondly, is that it also provides jobs for our people because when you know that the factory is on and it is functioning it means that Nigerians are working there and they are gainfully employed and we would like to see more of these coming up," Pepple said.

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