PROPERTY NEWS

The Ogun State Ministry of Housing has signed a Memorandum of Understanding with another private developer to deliver 12 units of two duplexes each in its efforts to fast-track the completion of the Ibara GRA Renewal Scheme project, which the state commenced about 15 months ago.

Speaking at the signing of the MoU with Megamounds Investment Limited in Abeokuta on Friday, the State Commissioner for Housing, Mrs. Jokotade Odebunmi, expressed delight that the desire of the state to develop modern high profile buildings in the GRA was coming to fruition.

Odebunmi, who explained that the development of the scheme had been segmented into four phases, added that the 24 units to be delivered by MIL would be ready in March, 2011.

She said, "This is another aspect of the Ibara GRA Renewal Scheme, which we started about 15 months ago. The programme itself got stuck due to the crisis in the banking sector last year. We were determined to go ahead with the project; so, we decided to engage private developers to partner with the state in achieving the objectives of delivering the renewal of the scheme. The four phases will be handled by different developers.

"We believe that the houses will be ready and inaugurated by March, 2011."

The housing commissioner added that MIL would source for the funds for the projects while the state was providing the land as its contribution under the agreement on the scheme, where each of the duplexes was expected to cost about N30m.

"This is the core of the GRA; so, we don‘t expect that the houses will be on the same range as some medium and low income houses that the state has put in place for those in that category. This scheme will still be under N30m on completion," Odebunmi said.

The Managing Director, MIL, Chief Olumide Osunsina, noted that the experience of the firm in delivering mass housing scheme had already placed it in a vantage position to complete the 12 units of the scheme within the allotted time of 12 months.

"We have been involved in delivering higher quantity of housing scheme in Ibadan, NICON project and Lekki County, where we constructed about 560 units. We have not done any project in Ogun but we believe with this programme, we will be able to establish ourselves in Ogun State," Osunsina said.

The MIL boss, however, expressed the frustration of developers in sourcing for competent hands in the country, saying developers had had cause to look for labour in the industry in neighbouring West African countries to complete their projects.

"It is a funny scenario. In Ibadan and Lagos, where we are handling projects, we had to travel to Togo to hire artisans to work with us as you hardly find anyone in the country that are ready to work; that‘s apart from even finding competent hands," he added.

Odebunmi, noted that construction was the biggest mover of the economy, however, encouraged the developer to work with local and competent hands.

The commissioner declared that the state would not tolerate excuses from the developer, expressing the belief that the firm would deliver quality product at the scheduled time.