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Ekiti State Government, Sustainable Housing Solutions (SHS) Holdings, and United Nations Office for Project Services (UNOPS), Wednesday, July 1, 2020, announced a deal to build at least 50,000 affordable homes over the next 10 years.
All of the new affordable homes built , according to the plan, will include renewable energy and disease preventative technology – including solar panel roofs, waste-to-energy technology and mosquito-repelling coatings.
The Nigerian state is the latest to join one of the largest affordable
housing initiatives in the world, part of UNOPS Sustainable
Infrastructure Impact Investments (S3I) – which will deliver at least
one million homes across multiple countries on three continents over the next decade.
The partnership will create thousands of local jobs at the
factory and on construction sites and will spur economic growth among a host of local industries.
As part of the agreement signed, Wednesday, UNOPS and SHS will seek to mobilize resources from third-party investors to fund this initiative whose gross development value (based on the sales value of completed homes) is estimated to reach US$2 billion.
SHS will supply proprietary
state-of-the-art technology as well as oversee the development of
housing by qualified contractors. UNOPS will bring to bear its
comparative advantages in the mandated (by the UN General Assembly) areas, such as: infrastructure, procurement and project management.
The government of Ekiti will identify and allocate suitable land for potential developments, and help create an enabling environment for foreign direct investment and mortgage finance.
S3I aims to break down barriers and create attractive opportunities for private sector investors to engage in long-term development initiatives – with a focus on affordable housing, renewable energy and health infrastructure.
Ekiti State Governor, Dr. Kayode Fayemi, said: “We are very
excited to partner with UNOPS and SHS to deliver affordable housing to
the people of Ekiti State. This partnership will not only deliver 50,000 homes in our communities, it will also increase foreign direct
investment into Ekiti State, and put thousands of our people in jobs.”
According to Fayemi, “This is how our promise of developing Ekiti, and improving the lives of
the people can be achieved. This partnership has come at an important time, during the COVID-19 pandemic, which has reminded us of the need to deliver quality social infrastructure to the people.
“I am excited that UNOPS and SHS have chosen Ekiti State as the first destination in Nigeria for this project, and we will do everything to ensure we create a model that can be replicated across the country.”
Speaking on the announcement, United Nations Assistant Secretary-General and Chief Executive of S3I (Sustainable Infrastructure Impact
Investments), Vitaly Vanshelboim, said: “We are very pleased to
support this contribution to Nigeria’s national development priorities and in particular, to help meet the critical need for affordable
housing, through innovative approaches to construction and mortgage financing. UNOPS is strongly committed to helping find new ways to finance inclusive, resilient and sustainable development activities that
generate positive social, economic and environmental impacts.”
Dr Allen Zimbler, Chairman of SHS Holdings, said: “SHS Holdings is
proud to participate in signing a collaboration agreement with the Ekiti State Government of Nigeria and UNOPS in respect of building at least 50,000 sustainable housing units for key government employees and other eligible citizens, in sites to be identified within the State.
“SHS is committed to making housing accessible to all, using robust and reliable construction technology, and employing proprietary energy-efficient
solar rooftops, waste to energy technology and mosquito-repellant
coating.
“We look forward to working with the Ministry of Lands, Housing
and Development of the Ekiti State Government and to creating
opportunities for the employment of significant numbers of local
citizens in the process.”
