By CALEB AYANSINA
Rivers state government in conjunction with a private firm has unveiled over 1,200 unit-luxury housing estate called Rainbow World in the garden city of Port Harcourt to address housing deficit in the country.
Rainbow World Estate, an independent community is the biggest luxury estate in the country with full facilities. It is part of Port Harcourt city project jointly built by the state government, Pat Onukwuli and Co., a firm of estate surveyors and valuers and the First Bank Plc, to provide mortgage for prospective subscribers.
The project was kicked off during Odili’s administration as a public-private partnership initiative to transform the garden city into a world class city that will be internationally recognized for excellence, and the preferred destination for investors and tourists.
Speaking at the unveiling ceremony of the estate in Abuja last week, the Principal Consultant of Pat Onukwuli & Co, Mr. Pat Onukwuli said the new city is about moving Nigeria to the next level in the real estate development.
He explained that in view of the strategic position of the city in the heart of the oil rich region, the estate was built to give world class luxury to inhabitants, while providing business opportunities for both local and foreign investors.
“Rainbow world is a unique and rare investment option that would continue to appreciate immensely over time as it offers a self-sustaining premium environment with unencumbered title, world class security facilities, enhanced logistics economy and provides proximity and accessibility to the oil rich Niger Delta Region of Nigeria.
“Accordingly, this is the one of the life time opportunity to buy into, a first class residential and business environment that offers the unencumbered right of occupancy in and over the piece of land, measuring approximately 23.24 hectares,” he said.
According to him, about N100b had been committed to the project, and it would be completed by the middle of 2015. Onukwuli further informed that Rainbow Town Development Limited has dedicated mortgage facilities from First Bank of Nigeria for outright sale of the high-rise apartments, terrace and detached houses at a considerate and attractive interest rate.
While urging individuals and corporate bodies to buy into the idea, he added that the estate is located at Trans-Amadi, the major business district of Port Harcourt with quality infrastructure and adequate security.