REDAN Teams Up With Private Developers to Address Nigeria’s 14.98 Million Housing Deficit
The Real Estate Developers Association of Nigeria has restated its commitment to reducing Nigeria’s housing shortage, which currently stands at 14.98 million units.
The pledge was made during the groundbreaking ceremony for The Embassy, a new residential estate in Wasa District, Abuja. The project is being developed by Crown Allied Global Realty Ltd and is expected to deliver 2,400 housing units.
Dr Gbadewole Kayode, Vice President of REDAN Abuja chapter and Managing Director of Crown Allied Global Realty Ltd, said the development is part of the private sector’s contribution to closing the housing gap. He noted that government alone cannot meet the demand and that developers, financial institutions and other private players must increase supply while also improving access to financing.
According to Kayode, construction of The Embassy will create more than 3,000 jobs. He said the impact will cut across construction workers, suppliers, artisans, transport operators and other businesses linked to the value chain.
Affordability is a key focus of the project. The developer said it will offer flexible payment plans for low-income earners. Buyers can make an initial part payment and spread the balance over six months. The estate is also expected to leverage mortgage financing through the Federal Mortgage Bank of Nigeria and primary mortgage institutions.
Mortgage access is seen as critical to making homeownership possible for more Nigerians. The effectiveness will depend on interest rates, loan tenors, incomes and property documentation.
The Embassy is being designed as a smart estate. Kayode said it will run on 100 percent solar power and include electric vehicle charging points. The plan also includes a 20-hectare commercial district with hotels, malls and other facilities. Investors will be able to buy land within the commercial hub.
The focus on alternative energy reflects growing concerns about electricity cost and reliability in Nigeria. Energy efficient homes could help reduce household running costs, though final prices will still depend on construction and service charges.
Location was also highlighted as a major factor. The developer said many buyers now want homes within a reasonable driving distance of Abuja city center with reliable infrastructure and modern amenities. As Abuja expands, delivering infrastructure in peripheral areas remains a key challenge for developers.
Despite the scale of The Embassy, REDAN acknowledged that one project cannot solve the entire problem. A 2,400-unit development is important but still small compared to the 14.98 million-unit deficit. The association said the solution requires sustained construction across income levels, plus land reform, infrastructure investment, and cheaper development costs.
Construction cost remains a major risk. Prices of land, cement, steel, labor and financing all affect the final cost of a house. Large projects may benefit from economies of scale, but developers still need access to capital and stable input prices to keep homes affordable.
Beyond housing, the project is expected to boost economic activity. Once completed, the estate could support retail, maintenance, property management and other services.
REDAN said the goal is to turn proposals into completed and occupied homes that people can afford. It added that effective execution, accessible housing finance and supportive government policies will determine how fast Nigeria can close the housing gap.
The association called on both private and public sectors to work together to increase supply and make housing available to the households that need it most.
