One of Family Homes Funds’ affordable housing projects in Borno state is at completion and soon to be available for occupiers.
The 125 blocks, 500 units Affordable Housing Scheme in Yana Yaskuri, Konduga local government area of Borno State will meet a very urgent and critical need for housing in the state. Since 2019, the social housing scheme began the funding and development of over 4,800 houses in the state which has been alarmingly affected by terrorist group, Boko Haram.
Having lost over 1 million houses to terror attacks, intervening in the state was a very important decision for Family Homes Funds who signed an MoU with the state government in 2019 to build at least 1,700 homes for civil servants on low income and another 3,200 for Internally Displaced Persons (IDPs).
Yana Yaskuri which sits on 22.5 Hectares of land is one of the first positive outcomes of that agreement and would be exceptionally affordable for the would-be owners. With unit costs starting from as low as N1.8m, and with long term payment plans, the project is an example of the social housing ideal that Family Homes Funds represents. Now at about 99% completion, the Yanu Yaskuri Affordable Housing Scheme will be handed over to the state in a soon to be announced date.
As part of the Government Social Investment Programme committed to improving the quality of life of Nigerians, the project has also contributed to the local economy through the number of jobs it created for artisans and others.
According to the MD of the Fund, Femi Adewole, ‘’the mission is to work together to ensure that fellow Nigerians that are living in very unacceptable conditions can have a home as quickly as possible.’’
Backing that up, the Fund will provide civil servants with homes loans assistance to ensure that they can afford the purchase of those homes for a figure that is not more than a third of their salary; and depending on individual circumstances, the tenure of that financing will stretch up to 20 years. The cost of the ones for the IDPs will be borne by the state government which they will pay back over an extended period which is up to an average of about 15 years.
Apart from Yana Yaskuri, there are at least 6 other Family Homes Funds projects at different levels in the state.
Family Homes Funds is currently funding the development of affordable housing schemes in most states in Nigeria. Several affordable housing schemes have been completed and some occupied in states like Nasarawa, Kaduna, Delta, Kano, Ogun.
