The possibility of PropTech taking over the Nigerian real estate sector has never been more pronounced than now as Novarick Homes set to deliver 200 bungalows in 2021 using a novel 3D House Printing Technology.
In a statement to the Press on Monday, January 25th, CEO of Novarick Homes, Noah Ibrahim shared the company’s plan to deliver 200 units of one, two, and three-bedroom bungalows using a newly acquired 3D House Printing Technology with the capacity to build and deliver a single unit within 24 hours. Unlike concrete, The 3D printer makes use of a proprietary 3D printing material that hardens almost immediately using Ultraviolet light in the curing process. This technique has the capacity to build houses with 95% fewer labor hours and significantly less waste than traditional construction techniques and could serve as a game-changer in the housing industry.
Speaking with Ibrahim following the Press Statement, he elaborated on the company’s plan to revolutionize the real estate industry using advanced construction technology. He stated “For years, we have been faced with the challenge of solving the housing deficit in the property sector, but this is almost impossible with the current standards we employ. If it takes months or even years to build a single home, how long would it take to build 2.5 million houses to meet the current housing deficit in Lagos State or the 70 million housing units to meet the current deficit in Nigeria. The nation needs to deliver 700,000 housing units annually to solve this challenge with a current capacity of barely 100,000 units annually. There is a need to pay a lot more attention to technologies that can help speed up the home delivery process, Novarick Homes will play her part using 3D House Printing Technology”.
Noah further stressed that the innovative technology not only reduced construction time but also the cost of construction as the technology reduces the cost per unit by over 45% without compromising quality, thereby making it a more cost-effective way to construct buildings.
Speaking on the company’s choice of Epe, he said “With the development of the Epe city road, the town has seen a high influx of workers and residents and there is currently a scarcity of accommodation in the town, two years ago a 2 bedroom apartment in Epe was rented for NGN 200,000 per annum, the same now goes for about NGN 400,000 per annum, we are simply meeting existing demand. Beyond that, there is also the availability of affordable land to construct mass housing projects and it is only wise to consider Epe as our key aim is affordable housing”.
Novarick Homes is big on sustainable developments and has the vision to build green and sustainable communities across Nigeria and Africa. The introduction of the 3d-technology will undoubtedly take the company one step forward towards achieving this vision.
