• Sunday, July 21, 2024
businessday logo

BusinessDay

Delta partners property developer for 10,000 housing units

housing

As part of policy to address accommodation challenges of civil servants, Delta State government on Monday signed an agreement with Greenfield Assets Limited, a private property developer, for the construction of 10,000 housing units in the state.

BusinessDay reports that mostly civil servants in the state through the Delta State Mortgage Bank will buy the development of the housing units, which would be completed within five years.

Festus Ovie Agas, secretary to Delta State government, and Ugo Umeseaka signed for the state government and Greenfield Assets Limited, respectively.

In his remark, Agas said over 200 hectares of land had been acquired along the Illah-Ugbolu Road, near Asaba for the project, saying under the arrangement, the state government would provide the land as its equity while Greenfield Assets Limited was expected to solely finance the project.

Agas, who added that the agreement was for the construction of 10,000 housing units in the next five years, noted that the developer was expected to deliver at least 1,000 units within the first year.

“These houses will be sold to Deltans through the Delta Trust Mortgage Bank. The beautiful thing is that the developer sources for the money and build, while we buy from them. In the next one year, we expect to see quality houses built for Deltans,” he said.

On his part, the chief operating officer of Greenfield Assets Limited, Ugo Umeseaka, assured that the estates would have state-of-the-art basic amenities and social infrastructure, including roads and drainages.

Umeseaka also assured that the housing would be built in a sustainable and decent environment, saying different classes of residential buildings would be developed within the land space provided by government, as there would be no preferential treatment for any category of apartment.

“It’s like we are just planning and developing a new city within Asaba. We are doing one-bedroom apartments, two bedroom apartments, and three bedroom apartments, all in the mix. There are no special areas; we are not going to segregate between the categories.

“In all the areas you will have all the classes of buildings located. There will be playground, we are going to make it an exciting place to life; it’s going to be something that Deltans will be proud off, and say this is in our city. The good thing is that it will be affordable,” he said.