Wisdom Kwati Smart City, a subsidiary of Wisdom Kwati Group, has unveiled its ambitious plans for the development of a mega city in Karshi, Abuja, aimed at generating over 6 million jobs within the next decade.
The project, which is still in its first phase and expected to be completed in 10 years, has the potential to reshape the real estate landscape in Abuja, offering a sustainable, eco-friendly urban environment tailored to the Nigerian middle class.
With an ongoing housing deficit in Abuja and other parts of the country, projects like Wisdom Kwati Smart City are emerging as vital solutions. The Federal Capital Territory (FCT) is grappling with a shortage of affordable housing, forcing many residents to live in overcrowded areas or commute long distances.
The National Bureau of Statistics (NBS) reports that Nigeria currently faces a housing deficit of over 17 million units, with Abuja among the most affected cities.
Chairman of Wisdom Kwati Group, Wisdom Kwati, spoke on how this project addresses these issues, stating, “Abuja’s housing crisis is a pressing issue, and we are determined to make a difference. Our project will not only offer affordable homes, but also incorporate sustainable building practices that will reduce costs in the long run—making life easier for residents.”
In alignment with recent policies initiated by Nigeria’s Minister of Works and Housing, David Umahi, which focuses on affordable and mass housing schemes, Wisdom Kwati Smart City draws inspiration from government-led initiatives aimed at closing the housing gap.
The Federal Ministry of Works and Housing recently introduced several public-private partnerships designed to promote affordable housing development. These policies resonate with Wisdom Kwati’s vision to create a city that merges quality living with affordability.
Baba Yakubu Ballah, Chief Operating Officer of Wisdom Kwati Smart City, highlighted the project’s employment potential.
“Our phased development will open up job opportunities starting with construction and engineering, followed by service industries. The sheer scope of the project is similar to Eko Atlantic in Lagos, but we’ve designed this city with sustainability and affordability as key drivers.”
On the ongoing discussions with investors to secure over ₦77 billion in funding, he said: “We are still in talks with investors, both local and international, but the interest we’re seeing is encouraging. There’s recognition that this project is both timely and transformative,” Ballah stated.
Referencing the government’s housing reforms and policies, Kwati noted: “Our project is aligned with the current administration’s vision to improve access to housing. We are committed to supporting the government’s initiatives through innovative real estate solutions that can bridge the gap between demand and supply.”
The city will boast a range of eco-friendly infrastructure, such as renewable energy sources and water conservation systems, positioning it as a sustainable urban environment. Wisdom Kwati Smart City is expected to attract a wide variety of sectors, including technology, real estate, and green innovation, ensuring that the employment opportunities created are diverse and impactful.
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Quelle/Source: The Nation, 24.10.2024
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