SHELTER AFRIQUE SIGNS MOU WITH THE REAL ESTATE DEVELOPERS ASSOCIATION NIGERIA

Shelter Afrique, the Pan-African finance institution exclusively supporting the development of housing affordable and real estate sector in Africa signed a MOU with the Real Estate Developers Association Nigeria.

The MOU was signed by Mr. Emmanuel Olabode Afolayan the representative of Real Estate Developers Association Nigeria (REDAN) and Mr. Alassane Ba, the Managing Director of Shelter Afrique.

The objective of the signing is to begin a process which will end with, the building of ten thousand houses in Nigeria. Both parties expressed their commitment to providing affordable housing in Africa.

Alassane Ba, the Managing Director of Shelter Afrique welcomed the REDAN contingent and added “We will commit the necessary resources to the project and make sure the project takes place in good conditions and on time; because one of core principles of Shelter Afrique is to meet its commitments in a timely and cost effective fashion.
He also noted that the Nigerian market was full of potential and that was one of the reasons that the regional office was set up in Abuja.

On his part, Mr. Afolayan said that he was happy to sign the MOU and he is happy to know that the first steps to realise the project had been taken and this project would allow ten thousand families directly benefit. He stated that REDAN is eager to get finance and to make even more of a case for REDAN, he mentioned five projects that have been already completed.

About Shelter Afrique

SHAF is a Pan African Company for habitat and housing in Africa, an international housing finance and development intuition which has its headquarter in Nairobi, is also located in Nigeria. And it is backed by 44 member countries, the Africa Development Bank (AFDB) and Africa Reinsurance Company (Africa RE ).

About REDAN

The Real Estate Developer’s Association of Nigeria (REDAN) is the principal agency of the organized private sector recognized by government and approved by the Federal Mortgage Bank of Nigeria (FMBN) – the apex mortgage lender in Nigeria – to facilitate the delivery of affordable mass housing for Nigerians.

For further information or to arrange for interviews with Shelter Afrique please contact :

Babatunde Oyateru : boyateru@shelterafrique.org

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