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‘Ogun now a real estate investment destination’

The Chairman, Sparklight Group, a real estate development group of companies, Chief Toyin Adeyinka, has described Ogun State as investors’ destination of choice.

Adeyinka, in an interview with journalists, said the state government had given priority to infrastructural development, the provision of affordable housing and creation of more jobs for the people.

He said the development had attracted his company to partner with the state government on affordable housing provision in parts of the state.

Adeyinka said, “The present administration is so passionate about development and has done so much for us. The governor has invested a lot in the state and we are also ready to continue partnering with the government to further enhance the growth of the state.

“We have put a lot of our resources here in the state and we are grateful to the governor for his efforts in realigning towards the success of our projects.”

He also called for a review of the Federal Government’s policy on housing in order to tackle major challenges that developers were facing in providing affordable housing.

“We are faced with difficulties in accessing government land, followed by non-availability of funds, the cheapest fund available to estate developers in Nigeria is the Estate Developers’ Loan of the Federal Mortgage Bank of Nigeria. There is also the problem of the cost and availability of local building materials,” he said.

He added that the housing policy needed to be reviewed in order to critically address these challenges.
“The government can use real estate construction and agriculture to drastically reduce unemployment and align our economy to the path of growth,” he noted.

Meanwhile, the firm said in a statement that in line with its vision of providing affordable housing for the masses, it had organised an open house programme to showcase the different housing projects in three of its estates in Lagos and Ogun states.

READ ALSO – Ogun State Property Investment Corporation begins work on new estate in Isheri

The statement read in part, “The programme is scheduled to start with the Gateway Sparklight Estate Phase ll in Ibafo,while the Rockview Estate, Abeokuta follows immediately between August 11 and 15. The Gateway Sparklight Estate and Rockview Estate are projects funded by the Federal Mortgage Bank of Nigeria through the Estate Developers’ Loan Scheme.

“Sparklight is in partnership with two primary mortgage banks, Trust Bond Mortgage Bank and Mutual Alliance Mortgage Bank Plc, in providing decent and affordable housing for Nigerians through the National Housing Fund loan scheme. We are poised to provide quality housing for the masses, thus contributing our quota to affordable shelter provision for Nigerians.”

It added that the open house for the Grace Court, which is expected to accommodate over 100 families in two and three-bedroom flats, would take place at a future date in September.

One comment

  1. How much will it cost to own a two bedroom flat in ur estate @ Ibafo

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