Oyo signs MoU for 500 housing units

Oyo State government has signed a memorandum of understanding (MoU) with four private investors in real estate to the tune of N5 billion.

The concessional agreement is expected to see the provision of about 500 low-cost housing units for residents of the state.

The MoU signing, done by the Director-General, Oyo State Investment and Public-Private Partnership Agency, Mr Segun Ogunwuyi alongside Chairman, Oyo state Housing Corporation, Bayo Lawal.

The projects contained in the MoU include the design, construction, commissioning and management of Bodija Recreation Center by Refcon Ltd and construction of about 360 units of medium and low-cost housing estate by Remax Realtors.

Others are the development of eleven units of premium 5-bedroom units by Wood et al Ltd and the development of 45 units of premium 5-bedroom townhouse by Project Scope Ltd.

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In his address at the event, Ogunwuyi said the concessional agreement would facilitate youths employment and expand the revenue base of the state.

“These are projects in respect of Ajoda housing estate. They are ready to provide housing for the teeming members of the public in Oyo State and those who may not be an indigene of Oyo State but intend to have accommodation in Oyo state. Very soon, it would take off at Ajoda.

“We expect that the investors would develop between 300 and 500 housing units to our people.

“The second project by the concessionaires and Oyo state government is the one at Awosika in Bodija and we intend to have terrace houses in some of the old houses abandoned by the previous administration.

“They are just there but not in use. So, in the wisdom of this administration, we decided to take the bull by the horn by inviting investors would develop the plot of land into the habitable modern-day chalet.

‘The third project is the one very close to Awosika, new Bodija quarters that has been abandoned for quite some time. The quarters as of now is not fit for the habitation of anybody,” Ogunwuyi said.


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