{"id":7100,"date":"2017-11-14T01:38:48","date_gmt":"2017-11-14T01:38:48","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/combating-housing-deficit-sterling-bank-partners-sterling-court-on-housing-provision\/"},"modified":"2017-11-14T01:38:48","modified_gmt":"2017-11-14T01:38:48","slug":"combating-housing-deficit-sterling-bank-partners-sterling-court-on-housing-provision","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/combating-housing-deficit-sterling-bank-partners-sterling-court-on-housing-provision\/","title":{"rendered":"Combating housing deficit: Sterling bank partners Sterling Court on housing provision"},"content":{"rendered":"<p>\n<\/p>\n<div itemprop=\"description\" readability=\"145\">\n<p>In its bid to reduce the widening <a href=\"https:\/\/amazingproperty.com.ng\/blog\/sell-your-home-online-fast\/\">housing<\/a> deficit in the country, Sterling Court Development, a Pubic Private Partnership Development initiative in collaboration with Lagos State Government through Agboyi-Ketu Local Council Development Area, in financial partnership with Sterling Bank Plc, is set to <a href=\"https:\/\/amazingproperty.com.ng\/blog\/tips-for-house-price-negotiation\/\">offer<\/a> a solution to the acute housing shortage being experienced in the nation particularly in Lagos State due to its population which grows geometrically.<\/p>\n<figure id=\"attachment_893244\" style=\"width: 412px\" class=\"wp-caption alignnone\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court.jpg?resize=412%2C219&#038;ssl=1\" data-lazy-src=\"https:\/\/i0.wp.com\/www.vanguardngr.com\/wp-content\/plugins\/lazy-load\/images\/1x1.trans.gif?ssl=1\" class=\"size-full wp-image-893244\" alt=\"\" width=\"412\" height=\"219\" srcset=\"https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court.jpg 412w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-300x159.jpg 300w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-58x31.jpg 58w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-260x138.jpg 260w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-200x106.jpg 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><noscript><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-893244\" src=\"https:\/\/i0.wp.com\/cdn.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court.jpg?resize=412%2C219&#038;ssl=1\" alt=\"\" width=\"412\" height=\"219\" srcset=\"https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court.jpg 412w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-300x159.jpg 300w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-58x31.jpg 58w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-260x138.jpg 260w, https:\/\/www.vanguardngr.com\/wp-content\/uploads\/2017\/11\/sterling-court-200x106.jpg 200w\" sizes=\"auto, (max-width: 412px) 100vw, 412px\"\/><\/noscript><figcaption class=\"wp-caption-text\">Sterling court housing estate<\/figcaption><\/figure>\n<p>Sterling Court, conceptualised by the concessionaires in 2009, is a residential development with site location at Ajelogo Housing Scheme, Alapere, Lagos. It consists of contemporary designed apartment buildings, modern terraces and <a href=\"https:\/\/amazingproperty.com.ng\/blog\/duplex-in-ikota-lekki-phase-1-lagos\/\">duplexes<\/a> aimed at meeting accommodation needs of the medium earning families.<\/p>\n<p><!-- between content ad --><\/p>\n<p>The scope includes construction of 40 blocks of 320 units starting with 26 blocks of 116 units as first phase in the year 2017. The construction methodology involves both mechanical and traditional approaches where different foundation types would be employed to ensure structural stability of the superstructure. These are cellular raft foundation, conventional raft and pad foundation.<\/p>\n<p>According to a statement by the promoters of project, the initiative, as mentioned, has Sterling Bank Plc as its financial partner and also as its first client. In the words of the group head, non-interest banking, Sterling Bank Plc, Dr. Bashir Oshodi, \u201cSterling Bank is a full service national commercial bank and high quality financial service provider committed to enhancing stakeholders\u2019 value.<\/p>\n<p>\u201cThe bank\u2019s involvement as the first client and financiers of the development is therefore borne out of Sterling Bank\u2019s culture of community engagement and promotion of a sustainable society by enriching lives\u201d, Oshodi said.<\/p>\n<p>Dr. Oshodi, a specialist in development economics, banking &amp; finance and integral research methodologies, added that \u201cApart from my personal goal which is to use integral development approach to drive poverty reduction strategies especially in developing countries, Sterling Bank has a strong passion for excellence and no doubt, the project will be of immense benefit to medium income families with satisfactory facilities provided at very moderate cost\u201d.<\/p>\n<p>The statement also noted that the developers, OKB &amp; Associates Limited, is a progressive <a href=\"https:\/\/amazingproperty.com.ng\/blog\/property-center-nigeria\/\">real estate<\/a> development company driven by an energetic team with sole aim of providing one-stop construction solution to its clientele across the world with Nigeria as the foundation.<\/p>\n<p>Commenting on the project, Mr. Owolabi Kola-Balogun, CEO, OKB &amp; Associates, said Sterling Court intends to create a world adaptable to urban commercialization where clients live life in style and learn to embrace life\u2019s true pleasures within their budget range. Population growth in metropolitan Lagos according to Balogun, has assumed a geometric proportions while the provision of urban infrastructure and housing to meet this demand is not at commensurate level.<\/p>\n<p>This, he noted, has resulted in acute shortage of housing to the teeming population with Lagos alone, according to statistics available, accounting for about five million deficit which represents 31 per cent of the estimated national housing deficit of 18 million.<\/p>\n<p>\u201cThis figure is growing at an exponential rate and therefore, the urgent need to provide affordable mass housing to help cushion the effect on the demand for housing,\u201d he stressed.<\/p>\n<p>Corroborating this, the Project Manager, Taiwo Adeleke, an architect and staff of Triarch Projects and Services Limited, stated that his team and financiers of the development, Sterling Bank Plc, share a strong desire which is to transform the landscape with effective presence in Nigeria, Africa and internationally by transmuting concepts and ideas into substantial realities.<\/p>\n<p>The design of the first phase consists of three prototype buildings to enrich proposed home-owners with a variety of options.<\/p>\n<p>These prototypes are eight blocks of apartment buildings with a total of 64 flats. Each apartment provides accommodation of three bedrooms en-suite with spacious living room, fitted kitchen and maids room to service every flat, eight blocks of <a href=\"https:\/\/amazingproperty.com.ng\/blog\/buy-terrace-duplex-with-bq-at-lekki-lagos-nigeria\/\">terrace<\/a> buildings with a total of 32 apartments, each apartment provides accommodation of three bedrooms en-suite with spacious living room , fitted kitchen, family lounge and maids room and 10 blocks of duplexes with a total of 20 apartments; each apartment provides accommodation of three bedrooms en-suite with spacious living room, fitted kitchen, family lounge maids room and a dedicated compound.<\/p>\n<p>The Estate has been designed to provide <a href=\"https:\/\/amazingproperty.com.ng\/blog\/the-benefits-of-solar-roofing-for-your-home\/\">energy<\/a> for self-sustainability, adequate parking spaces, 24 hours security, excellent road network, ample parking and good central sewage disposal system.<\/p>\n<\/p><\/div>\n<p><a hre=\"https:\/\/www.vanguardngr.com\/2017\/11\/combating-housing-deficit-sterling-bank-partners-sterling-court-housing-provision\/\"> Vanguard <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>In its bid to reduce the widening housing deficit in the country, Sterling Court Development, a &hellip; <a title=\"Combating housing deficit: Sterling bank partners Sterling Court on housing provision\" class=\"hm-read-more\" href=\"https:\/\/amazingproperty.com.ng\/blog\/combating-housing-deficit-sterling-bank-partners-sterling-court-on-housing-provision\/\"><span class=\"screen-reader-text\">Combating housing deficit: Sterling bank partners Sterling Court on housing provision<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":7101,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[519,2890,1398,1399,12908,543,344,684,3058,382,522,1007,84,15282],"class_list":["post-7100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-africa","tag-construction","tag-developers","tag-development","tag-home","tag-home-buying-guide","tag-housing","tag-lagos","tag-location","tag-mass-housing","tag-nigeria","tag-owners","tag-real-estate","tag-ross"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/sterling-court.jpg?fit=412%2C219&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":6285,"url":"https:\/\/amazingproperty.com.ng\/blog\/sterling-bank-takes-giant-strides-in-housing-sector\/","url_meta":{"origin":7100,"position":0},"title":"Sterling Bank Takes Giant Strides in Housing Sector \u00a0","author":"Amazing Property","date":"September 18, 2017","format":false,"excerpt":"\u00a0 Nigeria has a worrisome deficit in housing, which as at 2012, was estimated at a minimum of 17 million units. Recently, the figure was raised and, according to experts, it could be up to 20 million units, if a proper investigation of the state of affairs in the sector\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/s3-eu-west-1.amazonaws.com\/leadersandco\/wp-content\/uploads\/2017\/02\/14001431\/Sterling-Bank-Logo.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/s3-eu-west-1.amazonaws.com\/leadersandco\/wp-content\/uploads\/2017\/02\/14001431\/Sterling-Bank-Logo.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/s3-eu-west-1.amazonaws.com\/leadersandco\/wp-content\/uploads\/2017\/02\/14001431\/Sterling-Bank-Logo.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":7145,"url":"https:\/\/amazingproperty.com.ng\/blog\/bank-partners-lagos-state-government-in-340-unit-project\/","url_meta":{"origin":7100,"position":1},"title":"Bank partners Lagos State government in 340-unit project\u00a0","author":"Amazing Property","date":"November 20, 2017","format":false,"excerpt":"Sterling Bank Another residential estate, Sterling Court, is set to join the ranks of housing estates in the Lagos metropolis. Up to 320 units are planned for the estate, being jointly developed by Sterling Court Development and Lagos State Government as a pubic private partnership scheme. \u00a0 The initiative has\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Sterling Bank.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Sterling-Bank.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Sterling-Bank.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Sterling-Bank.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Sterling-Bank.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/11\/Sterling-Bank.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6256,"url":"https:\/\/amazingproperty.com.ng\/blog\/how-banks-partnership-with-developers-boosts-housing-delivery\/","url_meta":{"origin":7100,"position":2},"title":"How bank\u2019s partnership with developers boosts housing delivery","author":"Amazing Property","date":"September 18, 2017","format":false,"excerpt":"FCT Minister, Muhammad Bello The huge deficit level in Nigeria\u2019s housing sector is worrisome. As at 2012, experts estimated the deficit to be at a minimum of 17 million units and recently raised an alarm that the figure could be up to 20 million units if a proper investigation of\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Mohammed-Bello.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mohammed-Bello.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mohammed-Bello.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mohammed-Bello.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mohammed-Bello.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/Mohammed-Bello.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":5198,"url":"https:\/\/amazingproperty.com.ng\/blog\/sterling-bank-commits-to-real-estate-financing\/","url_meta":{"origin":7100,"position":3},"title":"Sterling Bank Commits to Real Estate Financing","author":"Amazing Property","date":"July 8, 2017","format":false,"excerpt":"\u00a0 The Managing Director\/Chief Executive, Crown Realities Plc, Mr. Darl Uzu has commended Sterling Bank Plc for stepping in to provide financing for development projects in the country. Speaking at the inauguration of the Crown Court Durumi, Abuja, a project that was wholly financed by the bank, he said the\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Sterling-Bank-Plc-e1460953817352.jpg?fit=696%2C412&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Sterling-Bank-Plc-e1460953817352.jpg?fit=696%2C412&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Sterling-Bank-Plc-e1460953817352.jpg?fit=696%2C412&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":5606,"url":"https:\/\/amazingproperty.com.ng\/blog\/nmrc-refinances-n8-2-billion-mortgages-pledges-homeownership\/","url_meta":{"origin":7100,"position":4},"title":"NMRC refinances N8.2 billion mortgages, pledges homeownership","author":"Amazing Property","date":"August 7, 2017","format":false,"excerpt":"Company Secretary, Nigeria Mortgage Refinance Company (NMRC), Musa Bello (left); Chairman of the board, Dr. Charles Okealaham and Managing Director, Prof. Charles Inyangete during the third annual general meeting in Lagos. ...Signs MOU with Alphamead, OPIC on affordable housing Notwithstanding the harsh operating environment, especially high interest rates and inflation,\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/08\/NMRC-07-08-2017.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":7936,"url":"https:\/\/amazingproperty.com.ng\/blog\/nmrc-modern-shelter-seal-deal-on-affordable-housing\/","url_meta":{"origin":7100,"position":5},"title":"NMRC, Modern Shelter seal deal on affordable housing","author":"Amazing Property","date":"January 29, 2018","format":false,"excerpt":"A new Memorandum of Understanding has been endorsed between Nigeria\u2019s foremost mortgage underwriter and a pioneer mortgage brokerage and real estate marketing firm that ensures the removal of barriers to home ownership for off takers. The deal between the Nigeria Mortgage Refinance Company (NMRC) and Modern Shelter Systems and Services\u2026","rel":"","context":"In &quot;Opportunities In New Markets&quot;","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Nigerians 3 1062x598.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Nigerians-3-1062x598.jpg?fit=1062%2C598&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Nigerians-3-1062x598.jpg?fit=1062%2C598&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Nigerians-3-1062x598.jpg?fit=1062%2C598&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Nigerians-3-1062x598.jpg?fit=1062%2C598&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/01\/Nigerians-3-1062x598.jpg?fit=1062%2C598&ssl=1&resize=1050%2C600 3x"},"classes":[]}],"_links":{"self":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/comments?post=7100"}],"version-history":[{"count":0,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/posts\/7100\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media\/7101"}],"wp:attachment":[{"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/media?parent=7100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/categories?post=7100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amazingproperty.com.ng\/blog\/wp-json\/wp\/v2\/tags?post=7100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}