About Brekete Family Smart City
This is a sites and services housing estate project meant to provide affordable but high standard houses for subscribers in a manner that can be a major source of empowerment for families. Below is a synopsis of the problems and opportunities that gave birth to the project and its concepts:
The motivation is derived from the fact that housing has remained a fundamental social security that is next to food in the hierarchical order of Human needs. Presently, Nigeria is reported to have an approximate population of 174million people with an average annual population growth rate of 2.83%. Nigeria's Real Estate sector is currently only contributing about 5% of the country's GDP. According to African Development Bank data, the middle class comprises about 23% of the Nigerian population.
Despite this huge and growing population with a potentially vibrant market for real estate, housing for the low and medium income earners has remained a sustained challenge.
According to 2015 world bank records, the Nigerian housing deficit currently stands at over 17 million. Abuja, being the city in whose environs the Brekete Family Sites and Services Housing estate is sited has a housing deficit that currently stands at about 1.7million. Also, Abuja being the Nigerian Federal Capital Territory (FCT) has remained about the second fastest growing city in Africa; it is said to be growing at the rate of 5% per annum. The Projection is that by 2050, 70% of the world's population will be living in urban areas, countries like Nigeria and cities like Abuja will be most affected given the country's peculiar development challenges.
These indices clearly show persistently growing housing challenges, but successive governments in Nigeria have either shown gross neglect of these challenges or have not taken a strategic approach in addressing them in the most effective manner. But, this has also created great opportunities in the sector. However, tapping into these opportunities requires appreciation of the complete picture, rightly forecasting the future, and cutting an out of the box solution that will stand the test of time. Our understanding of these facts, the valuable experience we possess in this area, the fanatic public trust that Brekete Family enjoys which has engendered massive public interest and commitment to the project, and also the privilege of having access to unencumbered land that is strategically positioned have mutually spurred us to create the Brekete Family Sites and Services Housing Estate as a fitting solution.
The attractiveness and viability of this solution are sustained by the fact that it is structured to deliver beyond just providing accommodation - but to be a Smart City that is self-sustainable by reason of its size; the infusion of strategic recreational and business parks for socioeconomic activities; and the carefully selected lightweight industries for the production of fast-moving consumer products whose raw materials are locally available, and their products can find a ready market in meeting the immediate needs of residents. Please join us to build this great city that will make a huge difference in all ramifications.