Nigeria’s Ekiti State will join one of the largest affordable housing initiatives in the world, following a new agreement that will see at least 50,000 affordable homes built by Sustainable Housing Solutions (SHS) and partners UNOPS over the next decade. The agreement, part of UNOPS Sustainable Infrastructure Impact Investments (S3I) initiative, will help address housing shortages in Ekiti State, with a focus on sustainability and local economic development.
“We are very excited to partner with UNOPS and SHS to deliver affordable housing to the people of Ekiti State,” said Ekiti State Governor, Dr. Kayode 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,” added Dr. Fayemi.
SHS will supply proprietary state-of-the-art technology to the project, as well as oversee the development of housing by qualified contractors.
UNOPS will provide its comparative advantages in its mandated areas, such as: infrastructure, procurement and project management. The government of
Ekiti State will identify and allocate suitable land for potential developments, and help to create an enabling environment for foreign direct investment and mortgage finance.
The affordable homes will be built with Baupanel, the proprietary construction technology used by SHS, with features such as solar panel roofs, waste-to-energy technology and mosquito-repelling coatings. The initiative is expected to create thousands of local jobs and stimulate economic growth among a variety of local industries.
“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” said Vitaly Vanshelboim – Assistant Secretary-General and Chief Executive of UNOPS Sustainable Infrastructure Impact Investments (S3I) initiative.
Also speaking on the signing of the agreement, 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.
“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.”
UNOPS and SHS will seek to mobilize resources from third-party investors to fund the initiative – which has an estimated gross development value (based on the sales value of completed homes) of up to $2 billion.
To date, UNOPS S3I initiative has committed to delivering at least a million homes in multiple countries over the next decade. SHS is partnering with UNOPS through this initiative to make a positive social, environmental and economic effect in countries such as Ghana, Kenya and Pakistan where hundreds of thousands of affordable homes will be built using Baupanel technology.