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Bohemian Estate Ltd to invest $250m in ABS technology for housing

The management of Bohemian Estate Limited has revealed its intention to inject about $250 million into real estate development through subvention from Czech Export Bank with active collaboration of Federal Mortgage Bank of Nigeria (FMBN).

The proposed collaboration would facilitate the construction and delivery of first phase of 10, 000 housing units in Gwagwalada using Assembly Building Block (ABS) technology through public sector developers from local, state and federal government agencies under existing FMBN Estate Development Loan (EDL) scheme.

ABS is a patented licensed technology for building family and apartment houses, stores, restaurants, low-rise hotels, hospitals, offices and other kinds of buildings suitable for different climate in Europe and sub-Saharan Africa.

Former minister of sport, Hon Bala Kaoje, stated this in Abuja, yesterday shortly after a closed door meeting with the management of FMBN and a delegation from Czech Export Bank led by its head of department, Export Financing, Mr Marek Jenik.

He said the company was propelled to embark on housing construction with ABS technology due to the rising demand for housing in Nigeria , adding that the new technology which utilises rice straw was eco-friendly.

Kaoje, who is a director with Bohemian Estate Limited said, “The government is paying much attention to the production of rice and we need to find ways to add value to our farmers so that we don’t waste the rice straw.”

He noted that the company was interested in a technology that uses rice straw to produce wall panels including the ceiling and roofing stressing that it’s a means of creating wealth through waste.

On the durability, he said, “It’s the same thing with sand-filled blocks and it can last for 20 to 50 years without having much problems rather than minor maintenance.”

Source: Leadership

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