As share of ongoing efforts in bridging the gap over 22 million house deficit in the area, Echostone Development Nigeria has delivered a 252 WorldBank EDGE Certified low-cost homes in Idale, Badagry, Lagos State. The State, which has over three million housing deficit, had partnered Echostone in a Public-Private Partnership ( PPP ) aimed at providing 100,000 low-cost homes in 10 years with contemporary engineering, starting with the construction of 2,000 caparison units in three local Government Areas ( LGA ) of the State, Idale in Badagry ; Ayobo in Alimosho LGA and Imota in Ikorodu local Government Area. Speaking at the official commission of the WorldBank EDGE Certified low-cost homes, which is first of its kind in sub-saharan Africa, Managing Director of EchoStone Development Nigeria, Mr Sammy Adigun, explained that the Affordable Housing Scheme named, ‘ Peridot Parkland Estate ’, is the first-ever green-certified low-cost housing community in Nigeria, and the first to be certified by the esteemed internationally recognized sustainability standard from the International Finance Corporation ( WorldBank ) EDGE.

According to him, the project is not only the first-ever in Nigeria to be World Bank EDGE certified, but it is one of entirely three in all of Africa to meet the advance documentation level for its meaning carbon, energy and urine savings. He pointed out that the estate of the realm is confirmed to a 53 per cent Energy Savings home, 42 per penny Water Savings and 35 per penny Carbon Savings. On the importance of the aforesaid figures for Lagos State and the Badagry community, he said that “ The EDGE recognition puts Nigeria among leading nations in the world committed to meeting the highest standards of sustainability that supports the United Nations Sustainable Development Goals, particularly SDG11, sustainable Cities. ” The fast conductor, consequently, explained that the energy savings can equate to the total of a mortgage payment, each year significantly supporting affordability in the hanker term for owners, while Water savings can equate to approximately 20,000 gallons of body of water per the unit, per year. “ not merely is the environment considered, but more importantly, the people who live here will benefit greatly from a higher timbre living standard for their families while having the opportunities of lower utility costs. “ As we all know, house is at the affection of communities and EchoStone and the State of Lagos can be proud to deliver a community that is not fair low-cost, but healthy and bouncy and is the foundation garment for department of education, health and more. “ This housing community is proof that homeowners do not have to choose between low-cost housing and quality homes while producing communities with the EchoStone system allows your investment goes further, your water and fixtures to last long, and your electricity to be optimized – while maintaining cooler and more comfortable indoor temperatures ”, he added. ” Adigun said that these houses represent the first pace, toward the future of Nigeria ’ s twenty-first Century economy, and the state politics ’ s commitment to the health and the prosperity of all Nigerians.

In his address, the Executive Governor of Lagos State, Mr Babajide Olusola Sanwo-Olu, said the project was depart of efforts in reducing the house deficit in the state. He explained that the estate was a joint venture with EchoStone Development Nig. Ltd and consists of 252 two-bedroom patio bungalows constructed in an eco-friendly environment. “ The department of state government will continue to provide a conducive environment for investment in the house sector ”, Sanwo-Olu assured. Earlier, the Lagos express Commissioner for Housing, Hon. Moruf Akinderu-Fatai said that the scheme that the 252 home units are echo friendly and technologically driven caparison estate. He explained that a unit is a two-bedroom bungalow, which is low-cost for the low-income earners, adding that the invention used by Echostone Development Nigeria in building the homes is applaudable. “ We are leveraging on this engineering, and we want to take this engineering to the next horizontal surface. For case, the stallion estate of the realm was constructed within one year. sol, if we leverage on that, we would be able to provide more low-cost house units for Lagosians equally fast as potential ”, he said. The Commissioner, consequently, described the inauguration of the Idale Estate as historic being the first green and eco-friendly estate of the realm constructed by Echostone Nigeria in Lagos State. Over time, Nigerians have been lamenting over an increase in the caparison deficit, but with the emergence of Echostone in Nigeria, diligence stakeholders believed there will be changes in Nigerians social lives, economically and even the fiscal status of the beneficiaries. It would be recalled that Echostone already has an existing agreement with Family Homes Fund ( FHF ) and the nigerian mortgage Refinancing Company ( NMRC ) to facilitate the development of hundreds of thousands of homes all over the state.

Echostone, besides recently signed agreements with the Federal Integrated Staff Housing Scheme an agreement to develop 15,000 homes, and a joint agreement with the nigerian Police Force to build 100,000 homes for the police across the country, among many others.

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