QShelter and M.I. Okoro Sign MoU to Market Federal 'Renewed Hope' Housing Estates

QShelter Limited and M.I. Okoro & Associates have signed a Memorandum of Understanding (MoU) to collaborate on the marketing and sale of the Federal Government’s Renewed Hope Housing Estates in Abuja and Kano, as well as the 2004 Coastal Road Estate in Lagos.

This partnership aims to bridge Nigeria's housing deficit by leveraging digital technology and professional real estate expertise to make affordable homeownership accessible to Nigerians both locally and in the diaspora.

Key Details of the Partnership

The MoU, signed on December 30, 2025, designates M.I. Okoro & Associates as the official estate agency and marketing partner for QShelter, which serves as the sole agent for these government-sponsored projects.

• Marketing Scope: The collaboration focuses on major housing units in:

  • Abuja: Renewed Hope City, Karsana.

  • Kano: Renewed Hope City, Janguza.

  • Lagos: 2004 Estate Monastery along the Coastal Road, Sangotedo.

• Target Audience: The firms plan to engage local buyers and the Nigerian diaspora through international building exhibitions in cities like London, Liverpool, and Houston in 2026.

• Strategic Goal: The partnership aims to redefine estate agency practice in Nigeria by combining QShelter’s digital platform—which connects buyers to developers and mortgage providers—with the professional network of M.I. Okoro & Associates.

Project Highlights: Abuja and Kano

These developments are part of the broader Renewed Hope Cities and Estates Programme, designed to provide integrated living communities for various income brackets.

• Renewed Hope City, Karsana (Abuja):

  • Size: Covers 53 hectares.

  • Capacity: Projected to deliver 2,800 to 3,112 housing units.

  • Unit Types: Includes 1- to 3-bedroom flats, terraces, and 4- to 5-bedroom duplexes.

• Renewed Hope City, Janguza (Kano):

  • Size: Spans approximately 67 hectares.

  • Capacity: Planned for about 2,000 housing units delivered across multiple phases.

  • Unit Types: Offers bungalows, terraces, and duplexes.

Affordable Financing Options

A critical component of this initiative is the low-interest financing made available through the Federal Mortgage Bank of Nigeria (FMBN).

• Mortgage Rates: National Housing Fund (NHF) mortgages are available at 6% interest.

• Rent-to-Own: A non-interest rent-to-own scheme is offered at 7%.

• Flexible Terms: Tenure extends up to 30 years, with subscribers able to access up to ₦50 million to ₦100 million depending on the specific fund utilized.

• Equity: Requires a minimum of 10% equity contribution from subscribers.

Expert Recommendations for Sustainability

During the MoU signing, Dr. Innocent Meckson Okoro (Principal/CEO of M.I. Okoro & Associates) provided several recommendations to ensure the success of the housing policy:

• Infrastructure Provision: Suggested the government directly provide roads, electricity, and water to reduce the final selling price of housing units.

• Renewable Energy: Advocated for the integration of solar panels in every estate to mitigate power supply issues for residents.

• Regulatory Oversight: Called for stricter monitoring of mortgage disbursements and clean land titles to ensure long-term viability.