Bohemian Estate to Pump $250million Into Real Estate Development

The management of Bohemian Estate Limited has revealed plans 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.

Former minister of sport, Bala Kaoje, stated this in Abuja, on Wednesday, May 11, 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, Marek Jenik.

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.

This will be done through public sector developers from local, state and federal government agencies under existing FMBN Estate Development Loan, EDL, scheme.

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 utilizes 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.

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.


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