The Nation Newspaper

Tag: OPIC

  • More housing delivery for Ogun residents

    The Acting Managing Director (MD) of the Ogun State Property and Investment Corporation (OPIC), Mrs. Ibiyemi Adesoye, has residents of the corporation’s readiness to deliver more affordable housing units to individuals and corporate bodies.

    Adesoye spoke when she led the corporation’s management team to visit the Deputy Governor, Noimot Salako-Oyedele, in her office at Oke-Mosan, Abeokuta.

    The visit was to brief the deputy governor on the activities of OPIC, identify with her and tap from her wealth of experience as a guru in property development.

    The MD noted that OPIC was established in September 1984, as a self-sustaining body, to drive focused economic growth through well planned property development activities and investments, especially along major border areas.

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    She said: “A major attraction for all OPIC Estates is the special consideration that is accorded security, peace and comfort of residents and tenants. The estates have schools, hospitals, police posts, shopping complexes and other basic infrastructure.”

    Mrs. Salako-Oyedele thanked the team for the visit, saying one of the missions of the Dapo Abiodun led-government was to provide affordable housing to the people.

    The deputy governor lauded the Family Home Funds initiative, and described it as an affordable and sensible project to embrace. She noted that for real estate to thrive, land must be available at the right place, adding that the present administration would engage more public-private partnership to invest in the state.

    According to the deputy governor, the Ogun State Investment Promotion Council proposed by the government would ensure that a template is put in place to legalise and ensure good guide for business to thrive.

  • OPIC begins construction of housing units

    Ogun state Property and Investment Corporation (OPIC) has started the construction of the first phase of OPIC’s affordable housing units in New Makun City, Ogun state that would deliver 400 houses before the end of the year through technologically based building method under the NMRC mortgage scheme.

    Addressing pressmen on the commitments of his organisation at plotting the scheme in Ogun state, the Managing Director, OPIC, Mr. Babajide Odusolu said: “Despite the economic recession, we will have new development in New Makun City, Exclusive growth, Exclusive development. This new development no doubt will align with the approved master plan of the City which zones, integrates exiting system, operations, communities and indeed everything.”

    The OPIC boss noted that the Corporation had mobilised competent contractors, private developers and accredited mortgage banks for successful accomplishment of the NMRC/OPIC mortgage scheme in the state, for speedy completion of the first phase of the project.

    “These institution have come to terms with OPIC to make housing affordable through highly subsidised mortgages by the government, enabling the general populace to explore the single digit interest mortgage loans spread over a long period  of time, in line with the OPIC/NMRC Family Homes Funds (FHF) mortgage plans,” said Odusolu.

  • OPIC tasks investors on mortgage scheme

    In its quest to boost the housing sector, the Ogun State Property and Investment Corporation, (OPIC), has parleyed with stakeholders in the sector to roll out a mortgage scheme that will enable aspiring home owners to purchase houses with ease.

    The Managing Director, OPIC, Mr. Babajide Odusolu declared the intention of his Corporation to incorporate three principal partnering mortgage banks, Lafarge Holcim and private developers to flag off a mortgage scheme under the apex mortgage company, the Nigeria Mortgage Refinance Company (NMRC) and Federal Ministry of Finance.

    Odusolu gave this hint during a media chat while conveying stakeholders on inspection tour in and around OPIC estates along Lagos-Ibadan highway corridor recently.  The inspection tour actually opened Nigeria Mortgage Refinance Company (NMRC), the three partnering mortgage banks, and private developers to emerging opportunities in Ogun State real estate sector.

    According to him, NMRC “ is meant to assist developers to build more houses through  a robust mortgage policy design to finance and monitor technologically based method of  building houses for  mortgages in States of the Federation that are found suitable to anchor the project.”

    Mr. Charles Inyangate, Managing Director, Nigeria Mortgage Refinance Company (NMRC) commented on the scheme saying, “What we need in Nigeria is housing stock, and as a financing body, we know provision of housing must increase and this must be done in partnership with States’ Government.’’ Odusolu added that opportunities now abound for average income earners to own houses through a special mortgage scheme designed to fulfill a key cardinal objective of the present administration of Senator Ibikunle Amosun.

    He disclosed that any person with a paid employment or ‘regular but unpredictable income’ could key into the plan which allows him to pay in installments over a long period of 20 years.

    Mr. Kola Ogunsulere Managing Director, Family Homes Funds Limited, a Federal Government initiative, in his reactions on the preparedness of Ogun State to drive affordable housing said Ogun State was found worthy, not only to partner with NMRC, but to model other upcoming States while exposing the generality of its citizenry to maximal benefits of NMRC’s mission of providing housing for all.

    Commenting on the tour of OPIC housing projects, the Managing Director, Imperial Homes Mortgage Bank Limited, Mr. Ben Akaneme said Ogun State is no doubt a model State for the NMRC scheme to reduce housing deficit in Nigeria. The road, industrial layout and internationally acceptable master plan in and around OPIC estates are “part of the development and repositioning we long to have in Lagos – Ogun States borderlines,” he reiterated.

     

  • OPIC invests $400m in SA’s solar plant

    Overseas Private Investment Corp.(OPIC), the United States government’s development bank, will invest up to $400 million in a solar thermal plant in South Africa.

    The Redstone solar project is being developed by Santa Monica, California-based SolarReserve and ACWA Power, a Saudi Arabian electricity producer. It will be located in South Africa’s Northern Cape province.

    The funds from OPIC will be used as an investment guarantee to build and operate the solar plant. The project is financed by 5.6 billion South African rand ($422 million) in debt and 2.4 billion South African rand in equity from both local and international lending institutions, according to SolarReserve’s website.

    OPIC is part of Power Africa, an initiative founded by President Barack Obama in 2013 to support the growth of energy access in Sub-Saharan Africa. The financial institution has pledged to provide $1.5 billion of financing and insurance to energy projects across the region by 2018.

    South Africa has set a target to build 3.7 gigawatts of clean energy under its Renewable Energy Independent Producer Program. The Redstone solar project will provide electricity to over 200,000 homes during peak demand once complete.

  • Propertymart partners OPIC on new housing scheme

    Property mart is extending its frontiers as a housing solution provider with the plan to launch another housing estate  within OPIC scheme on Lagos – Ibadan Expressway, a serene haven in the warm embrace of nature about five minutes drive away from the Redemption Camp.

    The estate known as Belmont Uptown located within three minutes drive from the Redemption Youth Centre facing Lagos – Ibadan Expressway is planned to be a green city. Part of the alluring features of Belmont Uptown for prospective buyers is its accessibility given the ongoing expansion of the Lagos – Ibadan expressway into eight-lane highway proposed to be completed in 2017.

    Managing Director, Propertymart Real Estate Investment Limited, Mr.  Adeyinka Adesope, who announced this latest milestone achieved by the company, said the estate will sit on about 3,700 square meters of land. He added that the new housing project is being implemented in line with the Ogun State Property and Investment Company’s (OPIC) proposed New Makun City.

    ‘‘The huge demand for home ownership has further strengthened Propertymart’s vision to not only reduce housing deficit in Nigeria, but to provide homes in a serene, spacious, secured and well structured environment’’, he said.

    Adesope disclosed further that preparations are in top gear to begin construction of the new units of affordable and exquisite homes at the Belmont Uptown estate. He said prospective subscribers could get their home type from N5.2million to N48 million.

    According to the Managing director, “there  are five house typologies being proposed which are four bedroom (fully detached), three -bedroom (semi detached), three bedroom (fully detached) bungalow and two bedrooms (semi detached) bungalow respectively with each having a tucked in Boy’s Quarter while the fifth  house type is the Belmont Mini villa comprising of one-bedroom apartments in four units.

  • Ogun audits applications for building approvals

    Ogun audits applications for building approvals

    THE Ogun State government has raised two committees to begin a comprehensive audit of pending applications for building approvals and Certificate of Occupancy (C of O).

    This is to determine how many of such applications are with the Ministry of Urban and Physical Planning and the Bureau of Lands and Survey, the processing stage reached and what is delaying them from getting the governor’s assent.

    Governor Ibikunle Amosun announced the names of the committee members on Monday at the Executive Council meeting.

    The three-man committee that will look into applications for building approval is headed by the Managing Director of the State Housing Corporation, who is also the Special Adviser to the Governor on Housing Development, Mrs. Jumoke Anifowose.

    Members are the Permanent Secretary in the Ministry of Finance, Mrs. Ajibola Chokor, and Mr. Bode Adefala, a senior special assistant in the Governor’s Office.

    The Managing Director of the State Property Investment Corporation (OPIC), Mr. Jide Odusolu, is the head of the committee that will sort out pending applications for C of O.

    Members are Special Adviser to the Governor on Special Projects Lekan Onamusi and his research and documentation counterpart, Leke Adewolu.

    The Attorney-General and Commissioner for Justice, Mrs. Abimbola Akeredolu, will work on the applications that need the governor’s consent.

    Amosun said the committees will work with the Commissioner for Urban and Physical Planning, Gbenga Otenuga, and the Director-General of the Bureau of Lands and Survey, Adewale Oshinowo.

    He also delegated the power to sign C of Os and Governor’s Consent to some members of the Executive Council.