Chinese Firm To Construct 2000 Housing Units In Ogun

The Ogun State Gov
ernment and a Chinese Construction Company, the Citic Construction Limited have signed a memorandum of understanding for the construction of  2000 housing units.
The investment Manager, Citic Construction, Robert Xu, made the disclosure in Abeokuta, Ogun State Capital on Friday after a meeting between representations of the company and Governor Ibikunle Amosum.
Xu explained that the project would commence soon and that it would be financed by the International Finance Corporation (IFC) and the Sovereign Wealth Fund (SWF).
The manager gave assurance that the houses would be affordable, adding that all classes of people will be taken into consideration in the course of construction of the houses.
The country manager of IFC, Solomon Adegbie-Quaynor on his part said that the houses, when completed could be acquired through outright purchase of mortgage.
He said that Ogun State was being used as a test ground, adding that the gesture would later be extended to other parts of the country.
Governor Amosum has said that the development was part of the government efforts to provide affordable housing for the people and enhance urban renewal programme of the state.
He said that his administration was rebuilding the state to make it the investment destination of choice.