By Jude Njoku

Determined to contribute to the reduction of the country’s housing shortfall put at a staggering 16 million units, Messrs Pilot Communications Limited, publishers of Pilot Property Magazine and Convergence Properties and Estate Limited, last week, unveiled plans to build low and medium income housing estates in Ikorodu and neighbouring Sagamu.

Specifically, the two estates would be sited at Igbogbo-Baiyeku in Ikorodu in Lagos State and Shiun Owode in the Mowe-Ofada axis in Ogun State.

The Ikorodu estate which would be built on a 100 acres parcel of land purchased from the Oke-Ira descendants family, is said to be close to the take-off point of the proposed 4th mainland bridge.

Unveiling plans for the proposed schemes at a media parley, the managing director of Pilot Communications, Mr Goddy Amaezechi explained that the estates would be developed in phases.

The first phase which has already commenced, involves the sale of about 100 standard plots of land. Amaaezechi who was assisted by the Chairman of Convergence Group, Mr. Emmanuel Obaweki and the managing director of Convergence Properties, Mrs. Lauertta Obaweki, said the the joint venture is offering a plot of land at Pilot estate at a promotional price of N495,000 while those who want to pay on instalments would pay N50,000 monthly for 12 months. The amount, he stated is exclusive of the development fee which has not yet been worked out.

An estate at Igbogbo, Ikorodu

“Pilot Estate is situated in a very serene and already developed part of Ikorodu; Igbogbo-Baiyeku. With a functional Lagos State Ferry Service already helping to reduce transit time from the area to the Island to about seven minutes and the prospect of the 4th mainland bridge coming to the area, Igbogbo-Baiyeku becomes a big attraction to investors”, he said.

He stated that Pilot Estate is free from all known encumbrances (omoonile troubles) and currently has a global C of O. “The estate land is dry, flood- free, easily accessible and ready for immediate development. Other estates close to Pilot Estate include: the Lagos State Low Cost Estate, Law Union Estate and Nichemtex Cooperative Estate”, he said.

Convergence Estate on the other hand is situated in another rapidly developing area; Shiun-Owode around the Mowe-Ofada axis.

Projected to benefit from the Lagos-Ogun Mega-City development plan; there are currently about 40 other developed and developing estates in the area.

The proposed estate which is about 20 minutes drive from Ikeja via the Lagos-Ibadan expressway, is covered by a global C of O and totally free from government acquisition.

A Plot of land in Convergence Estate currently sells for a promotional price of N295,000 for those who intend to pay at once and N30,000 monthly payments over a 12 months period.

Amaezechi said the companies will put in place first class facilities in the estates. They include: good road network, perimeter fencing, recreation areas, street lights, 24hrs security, properly landscaped and green environment.

Both estates, he said have the support of three major banks – First Bank, Zenith Bank and First City Monument Bank.

The Pilot Communications boss stated that both estates have been priced to ensure that average Nigerians are able to also become house owners in the estate.

“We have decided to make the price of land in both estates very affordable to make things easy for our target market, which is both the middle and low income earners”, he explained.