The Lagos State Government on Wednesday said its joint venture partnership in housing development across the state would deliver 14,187 housing units before the next two years.
The Commissioner for Housing, Mr Gbolahan Lawal, disclosed this on Wednesday at the on going Ministerial Briefing to commemorate Gov. Akinwunmi Ambode’s third year in office.
Gbolahan said the joint venture partnership was under a housing programme tagged “Lagos Affordable Public Housing” (LAPH) initiative.
He said it was introduced by the government to inject private funds into the provision of houses, to enable the state bridge the gap in the housing deficit, put at three million.
The commissioner said by this initiative, the state intended to provide 20,000 housing units over a period of four years spanning 2017-2020.
“This initiative is implemented through a joint venture arrangement between the State and the private investor/Joint Venture Partner.
“Under this initiative, the state provides land, the documentation in terms of permits, approvals, registration of documents and stamping as its own contribution to the joint venture.
“The joint venture partner provides funds and construction expertise as its contribution.
“In line with the investment policy of the government and for the purpose of creating an investment data base, title to the project site is vested in IBILE Holdings Ltd., the investment agency of the state government.
“The agency will in turn grant a deed of sublease of the unexpired residue of its interest to the special purpose vehicle/project company to be incorporated for the purpose of execution and management of the project,” he said.
According to him, the special purpose vehicle/project Company is made up of both parties, and the shareholding will be based on the value of the equity contribution of the parties.
Under the joint venture arrangement, Gbolahan said that the Ikota and Ogmbo scheme would deliver 3,300 housing units being developed by Multi-Purpose Infrastructure Development Construction Limited.
He said that the Ibeshe and Owutu scheme that would deliver 3,000 housing units was being developed by Affordable Mass Housing Company Limited.
Other joint venture partnership arrangements include the Igbogbo Housing Scheme, being developed by M-Bridge Ltd.,to deliver 416 housing units.
Also, the Ijora-Badiya. scheme, being developed by Brains and Hammers Limited, will deliver 771 housing units.
He said the Imota, Ayobo and Idale scheme, by Echostone Management Corp, had 2,000 housing units.
In Ilamoye-Isolo and Abijo Scheme, a 2,464 housing units scheme is being developed by Baden Moyet Nigeria Limited/Lemine Investment Group.
Also, the Abule Ado housing scheme being developed by Tact Urban Infrastructure Development will deliver 2,126 housing units.
Gbolahan said that the government had als continued to implement the rent-to-own and rental housing policies.
He said these were aimed at making housing more readily affordable and accessible to residents.
Lawal said that the policies were particularly targeted at low and middle income earners in both the formal and informal sectors.
He said that, as post-construction management of housing estates remained a challenge, the government had engaged facility managers to overcome the problem.
The commissioner said that the Ministry also continued the Master Craftman’s project which was aimed at addressing the dearth of skilled workforce.
He said these affected masons, carpenters, steel fabricators, plumbers, electricians, painters, joiners and tillers.
According to him, the training provided has helped to improve the skills of the artisans, thereby making them more competitive.(NAN)
– May 16, 2018 @ 19:25 GMT |