Echostone Development Nigeria has delivered 252 units of affordable homes in Idale Badagry in partnership with the Lagos State Government as part of the ongoing efforts in bridging over 22 million housing deficits in the country.
The project, designed as a Public-Private Partnership, is aimed at providing 100,000 affordable homes in 10 years with modern-day technology. Echostone Development said they were starting with the construction of 2,000 sustainable housing units in three Local Government Areas (LGA) of the state, Idale in Badagry; Ayobo in Alimosho LGA, and Imota in Ikorodu Local Government Area.
According to the Managing Director, EchoStone Development Nigeria, Mr. Sammy Adigun, the affordable housing scheme named, ‘Peridot Parkland Estate’, is the first-ever green-certified affordable housing community in Nigeria. “These structures have been certified by the internationally recognized sustainability standard from the International Finance Corporation (WorldBank) EDGE. The project is one of only three in all of Africa to meet the advanced certification level for its significant carbon, energy, and water savings,” he said at the official commissioning of the project in Badagry. He further added that the estate would be a 53% energy-savings home, 42% Water Savings and 35% Carbon Savings.
According to him, 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 energy savings can equate to the amount of a mortgage payment, each year significantly supporting affordability in the long term for owners, while water savings can equate to approximately 20,000 gallons of water per unit, per year. Not only is the environment considered, but more importantly, the people who live here will benefit greatly from a higher quality living standard for their families while having the opportunities of lowered utility costs,” Mr. Adigun said.
The Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu, said the project was part of efforts in reducing the housing deficit in the state. “The estate is a joint venture with EchoStone and consisted of 252 two-bedroom terrace bungalows constructed in an eco-friendly environment. He further added that the state government will continue to provide a conducive environment for investment in the housing sector,” Sanwo-Olu assured.