By Kingsley Adegboye
The UACN Property Development Company, UPDC has flagged off the construction of a 200 housing estate in Calabar, the Cross River State capital. Christened Calabar Golf Estate, the project is being executed in partnership with Cross River State Government.
UPDC’s Managing Director, Mr. Hakeem Ogunniran who spoke at the ground breaking ceremony said “the project is part of a larger project, the Summit Hills, a unique and world class mixed use development covering a total area of 367 hectares”.
“This estate was conceived as a necessary complement of the Summit Hills in tandem with the fundamental elements of a proper mixed use development. It must be stressed, that the Summit Hills when fully completed, will rank among the top 20 mixed developments in the world,”Ogunniran said.
Continuing, he said; “with the Calabar Golf Estate, we are delighted to partner with the visionary government of Cross River state on a PPP basis.
We have jointly incorporated a special purpose vehicle, SPV known as Calabar Golf Estate Limited and the title to this estate is vested in the SPV. We have thus created the appropriate governance framework for the operation, management and control of this project”.
“Our promise concerning this estate is that it will be a haven for its residents, where good quality of life is assured and the estate will certainly do all its stakeholders proud.
Our promise at UPDC is that we would continue to complement government’s efforts to improve the infrastructural landscape ? of our nation by embarking on real estate projects that conform to international standards, are aesthetically appealing and offer delightful living experiences to customers/ residents.
We will also continue to build for sustainable value by ensuring that our designs comply with the tenets of sustainability, environmental friendliness and corporate social responsibility,” Ogunniran said.
Responding, Governor Liyel Imoke thanked UPDC for the “laudable project”. “This is the first major Private Public sector Partnership of the nature, size and competence of a company like UACN Property Development Company.
For us as a government, this is another reward for the conscious efforts that have been put into making our state an investment destination in Nigeria.
These efforts over the years have gradually ensured a conducive investment climate that has attracted the strong interest of ? major organisation like UPDC”, Imoke said.
Recreational facilities expected in the estate include a community centre comprising a commercial Spa, Swimming Pool, Gymnasium, Club House and Children’s Playhouse.
Other are a Sewage Treatment Plant; Borehole and Water Treatment Plant ; Fire Alarm System/Smoke Detectors; Burglar Alarm System; Uninterrupted Power Supply and Ample Parking Space for residents and visitors.