Property development firm, Echostone Nigeria Limited has joined force with the Nigeria Police Force (NPF), to provide police officers with affordable housing solutions.
According to the firm, the new arrangement will bring about positive changes in both the financial and social status of police officers in the country.
The firm noted further that the project would indirectly aid crime fighting, as a result of the motivation it would bring on the men which will in turn boost their performances.
Speaking during the signing of the agreement in Abuja, Director at Echostone, Mr. Sammy Adigun, explained that the move aimed to help policemen and women to own houses in their preferred locations nationwide.
He said: “The project will be 1, 2 & 3 bedroom high-quality homes, to be built to the highest quality standard and in a very beautiful environment with parks, gardens, schools and shops. Every estate will be fully infrastructure with paved roads, drainages, water, power (on and off-grid) and sewage systems and treatments”.
Founder of Echostone International, Anthony Recchia, explained that the project would be executed by mobilising local and international partnerships.
He said: “Echostone is the only IFC EDGE (World Bank) Certified Green developer in Nigeria, which gives the Police huge confidence in the quality of homes that they will be getting from us. While Echostone is the developer, the Nigeria Police Property Development Company (NPPDC) will provide the land, the Nigeria Police Force Mortgage Bank (NPFMB), stands as the Mortgage Facility and the Nigeria Police as the off-takers.
“The Police are the single largest employer in the Nigerian Economy and this project, when achieved, would be a major boost to the economy as well as the welfare of our Police Officers.”
On his part, Managing Director, Police Property Company, CP Rudolph Obe stated that the Inspector General of Police (IGP), has weighed the impact of the project and gave his full approval.
“The IGP is completely pleased with this arrangement. The project, no doubt, will serve as a direct economic empowerment to the officers and boost their morale to give in their best,which overall will strengthen general security in the country.
“The homes will come with mortgages of up to 25 years with an interest rate of only 6 per cent per annum. Some policemen who cannot qualify for a mortgage immediately will benefit from the rental housing program with an option to buy”, he clarified.