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In cooperation with the Nigerian authorities the promoter is looking for a bidding partner capable to fund the development of a fully integrated housing estate with basic infrastructure and services that enhance the standard of living of Nigerians.
The Promoter
The company was incorporated on the 21st day of March 2007 and has successfully completed the construction of over 50 units of 3 bedroom semi-detached and 14 units of 3 bedroom detached houses at the SKAN housing estate for Skan Investments Limited in Kano. Recently another 14 units of 3 bedroom semi-detached housing units has been completed. The company has bidded and won the award for the construction of 400 and 50 housing units for Trans Africa Ltd and Chiju Integrated Services Ltd respectively. Recently the company has commenced the processes of developing a 100 units affordable housing estate in Hadejia, Jigawa State.
The Bid
The promoter and investor have to execute the following tasks;
The Promoter
The company was incorporated on the 21st day of March 2007 and has successfully completed the construction of over 50 units of 3 bedroom semi-detached and 14 units of 3 bedroom detached houses at the SKAN housing estate for Skan Investments Limited in Kano. Recently another 14 units of 3 bedroom semi-detached housing units has been completed. The company has bidded and won the award for the construction of 400 and 50 housing units for Trans Africa Ltd and Chiju Integrated Services Ltd respectively. Recently the company has commenced the processes of developing a 100 units affordable housing estate in Hadejia, Jigawa State.
The Bid
The promoter and investor have to execute the following tasks;
- Submit comprehensive development proposals in line with the various guidelines being provided by the authorities which may be amended or reviewed from time to time;
- Mobilize financial resources to fund the development and show satisfactory evidence of availability of funds through an irrevocable letter" of commitment from a financial institution acceptable to the Authority.
- Provide performance bond (renewable) to be issued by a licensed bank in Nigeria in favour of the Authorities against 25% of the total capital outlay within 30 days from the date of grant of vacant possession of site;
- Implement and manage the construction of the houses under a joint monitoring team:
- Provide standard on –site infrastructure services:
- Joint marketing of products and opening/operation of Escrow account;
- Payment of the sum of N 1.000,000.00 (One million naira) only as processing and appraisal fee (Subject to review without prior notice);
- Payment of the sum of N250,000.OO (Two hundred and fifty thousand naira) only as legal fees (Subject to review without prior notice);
- Obtain relevant approvals before possession of site.
The Authorities
The authorities will execute the following tasks:
The bidding process
Upon receipt of an undertaking from an investor that financing will be provided the Authorities will provide the promoter and investor with a list of the off takers.
The authorities will execute the following tasks:
- Provision of land in suitable locations in collaboration with State, FCT and Local Governments.
- Survey demarcation and acquisition of titles to land.
- Grant Development Lease of years certain, renewable if necessary to Investors/Developers in accordance to the terms of the Memorandum of Understanding (MOU).
- Issuance of appropriate title documents to eventual beneficiaries of the housing units Provision of technical support and monitoring of the project.
- Co-ordination of stake holders' consultation.
- Appraise detailed development plans, designs of building to ensure compliance with standards. codes and general land use plan of the locality.
- Appoint Facility Manager and Establish Resident Associations for post delivery maintenance & management of estate.
- Joint marketing of products and operation of Escrow account. Estate branding, street naming and house numberings. Enforcement of development control regulations.
The bidding process
Upon receipt of an undertaking from an investor that financing will be provided the Authorities will provide the promoter and investor with a list of the off takers.
Interested? For more information including business plans, please contact:
Office Africa
Kennedy Makimii
nmakimii@firmfactoryafrica.com
+254202448888
Office Europe
Jan Reijer Brons
jrb@firmfactoryafrica.com
+31653354494
Office Africa
Kennedy Makimii
nmakimii@firmfactoryafrica.com
+254202448888
Office Europe
Jan Reijer Brons
jrb@firmfactoryafrica.com
+31653354494