In a groundbreaking partnership that promises to transform housing accessibility across Nigeria, Qshelter Limited and M.I. Okoro & Associates have joined forces to market the Federal Government's ambitious Renewed Hope Cities and Estates Scheme.

The strategic memorandum of understanding (MOU), signed in Lagos, represents a pivotal moment in addressing the country's long-standing housing deficit, targeting the delivery of 100,000 housing units nationwide.

Under this collaborative agreement, M.I. Okoro & Associates will work alongside Qshelter to market housing units across critical locations including Abuja, Kano, and Lagos, where Qshelter serves as the official sales and marketing partner to the federal government.

Qshelter's Chairman, Kola Sowande, emphasized the partnership's significance in supporting President Bola Ahmed Tinubu's vision of expanding affordable homeownership. 'For the first time in decades, housing delivery is being matched with funding structures that make homeownership realistic for ordinary Nigerians,' Sowande explained.

The innovative Renewed Hope Housing Scheme offers unprecedented financing options, including National Housing Fund mortgages at six percent annually, rent-to-own options at seven percent, and mortgage loans up to N100 million through the Ministry of Finance Incorporated Real Estate Investment Fund at 9.75 percent interest.

Dr. Chief Innocent M.I. Okoro, Principal and CEO of M.I. Okoro & Associates, highlighted the collaboration's potential to enhance professionalism and transparency in estate agency. 'Our responsibility is to ensure Nigerians, both at home and abroad, have access to credible information about these historic housing initiatives,' he stated.

The partnership will support major Renewed Hope projects, including the Renewed Hope City in Karsana, Abuja (expected to deliver 2,800 housing units), Renewed Hope City in Janguza, Kano (planned for 2,000 units), and the 2004 Coastal Road Estate in Lagos.

Industry stakeholders view this collaboration as a significant step towards not just reducing Nigeria's housing deficit, but also creating employment across construction and real estate sectors. Victor Alonge, President of the Nigerian Institution of Estate Surveyors and Valuers, even urged the government to adopt this scheme as a national housing model.