Shelter Gap: Sanwo-Olu Woos Private Investors, Promises Enabling Environment

Posted by African Examiner Featured, Lagos, Latest Headlines, News From The State, Property Saturday, January 23rd, 2021

(AFRICAN EXAMINER) – ) Gov. Babajide Sanwo-Olu of Lagos State, has promised a conducive business climate for investors participating in the mass housing initiative of his administration to bridge the huge shelter gap.

Sanwo-Olu made the pledge while inaugurating the 252 units of the first environment friendly estate in Idale in Badagry Local Government Area on Saturday.

Sanwo-Olu said the project which was under the Affordable Public Housing Scheme in Idale, Badagry, was part of efforts to reduce housing deficit in the state.

He said that the estate was a joint venture with EchoStone Development Nig. Ltd and consists of 252 two-bedroom terrace bungalows constructed in an eco-friendly environment.

The governor said the collaboration with investors in housing development had yielded positive results in housing delivery by increasing the existing stock of homes.

He urged genuine investors to partner the state government in bridging the increasing housing needs while pledging his administration’s commitment to providing the enabling environment.

“The state government will continue to provide a conducive environment for investment in the housing sector,”Sanwo-Olu assured.

Earlier, the Commissioner for Housing, Mr Moruf Akinderu-Fatai, had said that joint ventures with the private sector had offered opportunities for construction of new homes in the state within the past eighteen months.

Akinderu-Fatai listed the new estates to include: Courtland Villas Igbokushu which had 120 units and Lekki Apartments in Lekki Phase 1 with 124 units.

He added that more were being expected from schemes at Lagoshomes Lekki Phase 2 which had 84 units, Lagoshoms, Iponri with 132 unitts, 662 units Odo-Onosa /Ayandelu, among others.

He described the inauguration of the Idale estate as historic being the first green and eco-friendly estate constructed by Lagos State.

“With the convenience of low cost maintenance in terms of water usage and energy efficiency. It (estate) also boasts of infrastructure: such as Street lights, water treatment plant, central sewage treatment plant, perimeter fence and good road network,”he said.

Akinderu-Fatai commended the development partner, EchoStone Development Nig. Ltd, for providing quality homes in a sustainable environment for the people of Lagos State.

Akinderu-Fatai said the state has finalised agreement with EchoStone Development Nig. Ltd and Family Home Funds for the construction of a Workers Village in Imota.

According to him, the proposed scheme would be backed by a convenient mortgage package accessible to workers from both the public and private sectors.

He added that another State Workers Village Scheme comprising of 608 homes to be built through Direct Budgetary allocation will begin soon at Ishefun in Ayobo Ipaja Local Council Development Area. (NAN)