The Lagos State government has offloaded 233 units in the housing market, creating an opportunity for more residents of the sprawling city to own homes.
The 233 units are a product of collaboration between the state government and Urban Shelter at Abraham Adesanya Housing Estate Parcels A and B. The units comprise one-, two-, and three-bedroom apartments, terraces, and semidetached homes.
“This project and other similar partnerships in real estate development are visible evidence of our deliberate marketing of the inherent value, potential, and multiple returns on investment that housing development in Lagos State offers,” Babajide Sanwo-Olu, the state governor, explained at the commissioning of the estate recently.
Read also: Oborevwori inaugurates cluster of housing units in Delta community
The governor noted that the state government’s focus on increasing the stock of modern homes and apartments continues to rise, recalling that last month, the state delivered 420 units of apartments at Ajara in Badagry, and has so far generated about 11,000 home units for low-, medium-, and high-income earners across the state in six years.
“It is clear that Lagos, as the epicenter of Nigeria’s urbanization and a rapidly growing population, needs more private-sector-led solutions in housing development. The demand keeps growing far faster than the supply, and this affects every social class,” he noted.
“One of our major strategies is encouraging private-sector participation in housing delivery. The State provides land as equity, while our partners provide financing and technical expertise. To ensure high standards, all projects are supervised and monitored by our technical teams,” he added.
Earlier in his welcome speech, Moruf Akinderu-Fatai, the state’s commissioner for housing, had noted that the day’s event was more than just the unveiling of buildings. “It represents a major stride in our efforts to build on the legacies of progressive milestone achievements recorded in the twilight of our democratic experience. The common goal is to provide affordable, secure, and sustainable housing for the people of the state,” he said.
The commissioner noted that their partnership with Urban Shelter stands out as a model of what can be achieved when the public and private sectors work together with a shared vision, pointing out that the 233 homes are the result of careful planning, investment, and the relentless pursuit of excellence.
“They reflect our determination to reduce the housing deficit, uplift communities, and improve the overall quality of life for our residents,” he said.
