Oyo state may have begun moves to tackle the housing problem of its citizens with the flag-off on Wednesday of the construction of a 360 housing units at the Ajoda New Town Estate on the Ibadan-Ife Expressway.
The new intended estate is a Public-Private Partnership initiative with Remax Realtor and will cost N2.5 billion, according to the governor, Seyi Makinde who said it will enhance affordable housing to all and sundry in the state.
Under the initiative, the state-provided 13 hectares of land for the scheme while the developer is expected to provide the finance for the project that will consist of 2-bedroom semi-detached houses; 3-bedroom semi-detached houses and 3-bedroom detached houses.
The project which will be replicated in other parts of the state is located at Egbeda local government owing to the statistics that shows that Ibadan zone has been growing at 2.2 percent since 2018 and will grow to 2,5 in 2020, hence the choice of the location.
“The project will cost N2.5 Billion, and upon completion, the developers will recoup their finances when the houses are sold. We have seen the wisdom of getting contractors or developers to commit to projects by using their own monies to carry them out”, the governor noted.
“But that the project is starting in Ibadan Zone does not mean that it will end here. Our plan is to replicate these housing units in other parts of Oyo State in the shortest possible time.”
He also charged members of the public who are interested in buying landed properties in Oyo State to patronize Oyo State Housing Corporation, adding that his administration will continue to operate an open-door policy.
The Managing Director, Remax realtors Limited, Adefunke Adesoji, said it was an honour to work with the Oyo State governor on the project, which was conceived as a public-private partnership.
In their separate remarks, the Commissioner for Lands and Housing, Barrister Abiodun Abdulraheem and his counterpart in the Ministry of Justice, Prof. Oyelowo Oyewo, enjoined investors and residents of the state to key into the projects, which they described as a landmark initiative.
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