Lagos state partners with firms to deliver 687 housing units’ projects

In view of successfully tackling the housing deficit in Lagos state and continuation of its major housing delivery plan for 2015, the state government has concluded partnership with seven private developers to deliver 687 housing units’ projects.

The firms: Messrs Nicobana Nig. Ltd., who is to deliver five units of 4-bedroom apartment at 21, Turnbull Road, Ikoyi; Messrs CSB/Prosper Garden Ltd., who will deliver 80 units of 2 and 3 bedroom flats at Ipaja.

Messrs Royal Sanderton Nig. Ltd. is to develop 40 units of 4 bedroom terraces at Connal Road, Yaba; 160 units of 4 bedroom terraces at 22, Aggrey Road, also in Yaba; 12 units of five (5) bedroom terraces at 29, Esugbayi Street, GRA, Ikeja; 12 units of 5 bedroom terraces at 31, Ladoke Akintola Street, GRA, Ikeja, and 6 units of 5 bedroom terraces at 28B, Remi Fani-Kayode Street, also in GRA, Ikeja.

Others are Messrs Southdrift Investment Ltd. and MIDC, who are to develop 81 units of 3 & 4 bedroom flats, detached & semi-detached at Ikota; Cadwell Nig. Ltd., 34 units of 3 bedroom flats 274 Kofo Abayomi Street, V/Island Lagos; Marimpex Imperial Homes Nig. Ltd., 136 units of mixed housing in Ikota and Xpress Properties Services Ventures Ltd. 128 units of mixed housing in Ganyingbo, Badagry.

Although, details of the partnership was unknown as at the time of this report, investigation revealed that government’s equity is land and administrative advice, while the developers provide the technical and financial contributions.

Giving the development stage of each project, Commissioner for Housing, Mr. Bosun Jeje, hinted that the projects are already ongoing, and noting that contractors would deliver them before the end of year.

“We are currently reviewing the Public Private Participation (PPP), programmes to make it more attractive to the prospective investors. We are also finalizing the ongoing projects, because we are sure that their completion will add to the existing houses. Besides, government is sure that its programme for affordable homes is on course with the hope to further reduce the housing deficit in the state”, said Jeje.

To give confidence to its housing programmes, he said a Legal and Advisory Services meant to deal with the process of legal documentation of all the activities of the ministry has been strengthened.

Its functions include vetting and compilation of Development Lease Agreements with respect to government’s public private partnerships projects, issuance of Deeds of Sub-Lease to allottees of its housing estates and, preparation of code of conducts for the management of the estates.

“We also interfaced with the Ministry of Justice to prepare briefs in defence of cases, settlement of disputes and, resolution of petitions and complaints Preparation of Development Lease Agreements (DLA).

Guradian