Efforts by a leading estate developing firm, UACN Property Development Company Plc (UPDC) to further reduce the nation’s housing deficit debacle last week received a boost as the Lagos State Government pledged to give all needed support to estate developers, who set to make right investment.
Commissioner for Physical Planning and Urban Development, Mr. Toyin Ayinde, made this promise at the launching of a residential housing estate with 18 town houses located on Ladoke Akintola Street, Government Reserved Area, Ikeja, to be developed by UPDC.
At the ground breaking ceremony of the estate, christened Grandville, GRA, Ikeja, the Commissioner said government should give encouragement to investors, who are doing it right, adding that, this proposed development meant a lot to the state government.
He added: “This project will further add to the nation’s housing stock. This is a good beginning for Mainland.” Ayinde also tasked the UPDC to look in the direction of buying over abandoned estate projects in the state.
Each house in Grandville Estate is designed to come with a one-room boys’ Quarter. The project, which started last week, would be delivered in August 2012. Facilities to be provided in the estate include swimming pool, gymnasium and children’s playground. Others are sewage treatment plant, borehole and water treatment plant, fire alarm system, burglary alarm system, PHCN and standby generator and ample parking space for residents and visitors.
UPDC’s Managing Director, Mr. Akeem Ogunniran, his company had been desirous for sometime now to establish a luxury estate on the Mainland, which led to the quest for the Grandville land about 18 months ago, adding that the state had graciously given assent to the title on the about 6,500 square metre land.
According to Ogunniran, UPDC, would continue to pursue projects and developments that would further aid the mega city status of Lagos.
UPDC Marketing Manager, Mrs. Titilayo Ajayi, said that the estate, which would be serviced and managed by her company, is an investors’ haven because it assures of capital appreciation, premium rental income with good rental yield, good title, protected green area with lush greenery with accessibility and proximity to Murtala Muhammed Airport.
View more property news from Nigeria.
Source: The Guardian