Primewaterview Holdings Limited, an indigenous developer has signed a N4 billion Memorandum of Understanding, MOU, with the Lagos State Chapter of the Nigeria Union of Journalists, NUJ and the National Association of Women Journalists, NAWOJ to build 800 housing units for journalists at Abaren Village in Obafemi Owode Local Government of Ogun State.
Primewaterview Holdings Limited is Africa’s rising real estate and infrastructure conglomerate, with its vision to maximize the use of local knowledge and skills combined with global expertise in housing delivery.
The MOU was signed at the Ladi Lawal Press Centre, Ikeja, Lagos, Southwest Nigeria on Monday.
Lagos NUJ Chairman, Deji Elumoye said the developer would build each housing unit at a cost of N5 million, meaning that the 800 housing units would be developed at a cost of N4 billion for the space of 36 months.
He said that NAWOJ is the initiator of the project in partnership with the Lagos NUJ and that the union had been on the project over a year looking for a worthy developer to commit funds into the project.
According to him, the developer would construct three bedrooms flat per unit with parking space and adequate social amenities.
“We are carrying out this project in a transparent manner. Primewaterview has executed lots of projects within and outside Lagos. Having done lots of investigation, we had to settle for them.
“The project would lead to the development of three bedrooms bungalow, with the construction of 800 housing units. You are going to have shopping complex, schools, police post, playing ground and other facilities in the estate, it will be a big estate,” he said.
Elumoye added that the project would be undertaken in phases, with the first phase taken delivery of 200 housing units in the next six months, as allocation would be on first come first serve basis.
National President, NAWOJ, Ify Omowole said the association was the initiator of the project and that the project covered a land space of 640,000 square meters.
She said the estate would have a global certificate of occupancy, adding that journalists would bear 40 percent of the funding while the remaining 60 percent would be borne by a yet to be named financier.
Group Managing Director/Chief Executive Officers, CEO, Primewaterview Holdings Limited, Mrs Morola Babalola said the company would ensure speedy delivery of the project and that the company would soon move to site to begin work.
Chairman, Primewaterview Holdings limited, Prince Adetunji Ogunwusi said the company would deliver high quality housing units that journalists would be proud of, while soliciting the support of the subscribers to the project.