The Nation Newspaper

Tag: housing units

  • Firm plans 1,000 housing units yearly

    An estate firm,  Gran Imperio Group (GIG), plans to deliver about 1,000 upscale housing units yearly.

    The developer has delivered Jacob Mews, NorthPointe I, II III and SouthPointe Phase I, consisting of 299 housing units. This does not include units located on the developer’s Inagbe Grand Resort, a unique tourist centre, it is developing with the Esinmikan family in Lagos.

    Also, construction has reached advanced stages in its sites, at Lakeview Park 1, II, Mid-land Court, SouthPointe II, Golden Leaf Estate, Y’hello Estate, promoted under the ‘EssentialHomes’ brand name.

    The development of the Lake View Park 1, a site and service scheme strategically located on the Lekki-Epe Expressway adjacent Victoria Garden City (VGC) with 194 residential plots and over 30,000sqms commercial plots, has been completed.  Phase two, a residential community on the Lafiaji Road, Lekki, with a lake, has 160 residential plots of various sizes and an area earmarked for commercial activities.  At the moment, 20 buildings are being constructed in this place.

    Still, under construction are 24 units of terraced town houses in Midland Court on Northern Foreshore road, off Chevron Drive, Lekki Peninsula, Lagos, a premium residential community which offers spectacular ambience, detailed finishing, security and recreational facilities in an appealing environment.

    This, according to the Managing Director of Gran Imperio Group, Mr. Adeyeye Ogunwusi, would be delivered by April 30, 2015.

    The SouthPointe II and Lakeview Park II, which comprises 79 units including 32, 30 and 17 units of three, four bedrooms and town houses, and is billed to be delivered in April 2015.

    GIG has also entered into a joint venture with the British-America Tobacco (BAT) to develop the Golden Leaf Estate on Lafiaji Road, Lekki. Upon completion, the 1.9 hectares estate will provide 380 units of various types, including detached houses, terraced bungalows and detached duplexes. For ease of execution, the project has been divided into different zones.

    Y’hello Estate in the same area is a residential community offering 800 units of exquisitely finished terraced bungalows, town houses and flats with air conditioning, good quality finishes – kitchen, recreational facilities and a commercial area. Like the Golden Leave Estate, this project is a joint-venture between GIG and MTN.

    According to GIG’s Managing Director, Mr. Adeyeye Ogunwusi, the  economy cannot grow without opening up the cities. “The economy needs diversification and the only thing that can sustain it is housing,” he said.

    At present, three mortgage institutions are partnering GIG on the project to deliver housing units at  friendly prices. The representative of Imperial Homes, one of the mortgage banks working with GIG, Mrs. Ronke Akinyele, expressed delight at the feat achieved so far.

    “We started together. We are taking mortgage to the next level and that is why we are cooperating with others to ensure that we improve the country’s housing stock,” she said.

    The Company Secretary, Trust Bond Mortgage Bank, Mr. Mark Okoye, said his company had faith in GIG and because it is a people- centred project, they would be supported all the way.

    A house in the GIG housing scheme costs between N7.95 million and N30 million.

  • Agbaje promises 150 housing units in four years

    THOUGH the All Progressives Congress (APC) has done well in the areas of security and the environment in Lagos, the ruling party’s best is not good enough for Lagosians, Peoples Democratic Party (PDP) governorship candidate Mr Jimi Agbaje said at the weekend.

    Agbaje, who unveiled security, health and education as his administration’s flagship policies if elected as the next Lagos governor of on February 28, however spoke of plans to do more.

    He spoke with media managers in Lagos in the company of his running mate, Alhaja Safirat Abdulkareem and some political aides.

    Specifically, he promised to facilitate the provision of 150, 000 housing units in the next fours, saying the 25,000 units built by the APC administration in 16 years was a far-cry from the housing needs of a cosmopolitan state like Lagos.

    According to him, a minimum of 200,000 housing units is required to meet the accommodation needs of the state’s estimated population.

    Urging Lagosians to choose between continuity as represented by the ruling APC and change as being offered by his PDP, Agbaje warned that it will amount to living in Fools’ Paradise for residents to be contended with the status quo.

    The PDP candidate, who promised not engage in the politics of mudslinging, said he was in the race to win and not just to participate.

    His words: “I have in my CV already a former governorship candidate. I don’t want to put in it a two-time former governorship candidate. I am in this race to win, not just to participate and we are serious about it. Lagos is moving, but moving very slow.”

    Agbaje spoke of plans to partner the private sector to retrain the army of jobless youths on vocations that would transform them to employers of labour, rather than seeking after white-collar jobs that are hard to come by.

    He also promised to ensure that five per cent of government’s procurement budgets are set aside specifically for the youths.

    On health, he said his administration will remodel the National Health Insurance Scheme (NHIS) to enable government provide only the premium on beneficiaries.

    Rating the APC government high for setting up the Security Trust Fund (STF), he promised to widen its scope beyond the metropolis.

    He also spoke of plans to overhaul the education policy and review the tax policies in the state if elected.

  • Jonathan to inaugurate 324 housing units in Enugu

    President Goodluck Jonathan will, on May 23, inaugurate the 324-unit Elim Housing Estate in Enugu.

    The Minister of Housing, Lands and Urban Development, Mrs. Akon Eyakenyi, conveyed the President’s message at the weekend during her inspection tour of the estate.

    The Managing Director of NBP Projects Limited, the developers of the estate, Rev. Ugochukwu Chime, said the Federal Mortgage Bank of Nigeria funded the estate.

    Chime said the estate was designed to meet the needs of the middle and low income earners.

    He also said the homes in the estate ranges from one-bedroom and two-bedroom terrace flats to three-bedroom fully detached bungalows.

    According to him, each of the units costs between N3.5 million and N10 million.

    The NBP chief said the prices of the house were set by the FMBN, adding that the bank had provided for easy purchase of the units with minimal initial deposits that were as low as 10 per cent.

    Chime said: “Besides, there is a stable mortgage loan repayment rate of six per cent per annum (on the balance) for an extended period of up to 30 years subject to the applicant’s age.”

    Eyakenyi said the successful completion of the estate was a major project under the current administration’s drive to provide affordable housing for Nigerians.

  • Group plans 3,400 housing units

    Abia State Housing and Allied Products Cooperative Association Ltd is to construct 3,400 housing units in the state, the President, Chief Enwerem Chinyereze, has said.

    Chinyereze told journalists in an interview in Umuahia that the project would be realised through the Informal Sector Cooperative Housing Loan Scheme of the Federal Mortgage Bank of Nigeria (FMBN).

    “Under this project, 200 housing units will be built in each of the 17 local government areas of the state to curb the growing housing deficit,” he said.

    Chinyereze said that the housing estates would be developed by the cooperative society in partnership with traditional rulers and local communities.

    “There is a window that offers individual cooperative members a mortgage loan to buy a housing unit developed through this scheme.

    “Cooperators shall make a down payment of 15 per cent of the approved selling price as their personal stake in the loan, while an individual cooperator shall enjoy the housing loan at six per cent interest per annum,” he said.

    Chinyereze appealed to the state government for support to ensure that the informal sector in the state benefited from the scheme.

    “This is a project that is being implemented across the country and it is necessary that the informal sector of our state benefits from it.

    “The condition is that traditional rulers will provide empty pieces of land with title of ownership for this project to take off.

    “The state government will need to play a central role in ensuring that Certificate of Occupancy of such pieces of land is got with relative ease,” he said.

    The Informal Sector Cooperative Housing Loan Scheme is a product of the National Housing Fund (NHF) scheme.

    It is designed to accommodate non-salaried informal sector Nigerians through cooperative societies to join the NHF.