In an effort geared towards addressing three million housing deficit in Lagos AA, and bridge over 17 million housing shortfall in Nigeria, a provider of affordable housing solutions, Echostone Nigeria Limited, has partnered with the Lagos State Ministry of Housing, and Ibile Holdings Limited to deliver its first set of houses.
The collaboration, which is targeted at providing 100,000 homes in four years in Lagos, started with the construction of 2,000 housing units in three Local Government Areas (LGA) of the state: Idale in Badagry; Ayobo in Alimosho LGA and Imota in Ikorodu LGA.
The firm, has, however, commenced the project to drive mass housing delivery in Lagos with the construction of 250 units of two bedroom flats in Idale Badagry LGA of the state.
Speaking at the unveiling of the prototype of its two bedroom bungalow at Peridot Parkland Estate, Idale Badagry, but held at the Government Technical College, Agidingbi, Lagos, where a sample of the buildings was constructed, the Chief Executive Officer and Co-Founder, EchoStone, Anthony Rechhia, said that the delivery of the building in 14 days and handing over of the keys, was a feat that many thought impossible.
“So, we have made the impossible possible in just 14 days”, he said.
The estate will be fitted with state-of-the-art facilities and comes at N9 million per unit. In all, it plans construction of 2,000 housing units in three Local Government Areas (LGA) of the three LGA above.
Speaking on the sideline of the event, EchoStone Co-Founder and President, Business Development, Mr. Ander R. Lindquist, said, “For us, it is a promise kept. And we are looking forward to building more houses in the state and Nigeria at large.”
“We are building houses in communities that are livable, that is striving and healthy. Where a family can live together, kids can play on the street, we design a fantastic community and we are building a lot of homes here in the city of Lagos”, he explained.
Commenting on the completed prototype, Director, EchoStone Nigeria, Mr. Sammy Adigun, assured that his firm would meet the housing needs of Lagos residents, with the support of all the relevant stakeholders, without compromising quality.
On his part, the Lagos State Commissioner for Housing, Gbolahan Lawal, commended the efforts of the firm, adding that EchoStone is deploying a new technology that allows construction of several houses daily.
“EchoStone represent technology at its best because the houses which were constructed in 14 days demonstrated the hope technology had when used to speed up construction. It is satisfying to know that a 64 square metre house can be completed from scratch to bottom in just 14 days.
“Echostone is fired up to do more because of the response they have received from the government. They have the funding and technological know-how to help us greatly in tackling the deficit in the state”, Lawal said.
The commissioner, who appealed for trust in the firm from the public, assured Echostone that the capital investment it had brought into the state would yield good return-on-investment for them.
He said the government was already in talks with the developer to work out a modality of deploying the same technology to assist the state in building compact storey buildings, as this was the way to go to really to accommodate Lagosians.
“We want to build compact storey buildings. We are in discussion with Echostone and they have assured us that it is doable,” Lawal said.
Also, the managing director of the Nigerian Mortgage Refinance Company (NMRC), Mr. Kehinde Ogundimu, said the company was set to remove the barrier to homeownership, provide liquidity to achieve the goal.
“NMRC is determined to make affordable accommodation a reality, especially, in Lagos State, where the demand acutely fell below supply”, he said.

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