Business
UPDC Inaugurates Housing Estate In Abuja
UAC Property Development Company Plc, has inaugurated the first phase of its Metrocity Estate in Abuja.
The Managing Director, UPDC, Mr Hakeem Ogunniran, stated that the estate comprised affordable homes for both the low and middle income earners.
Ogunniran said the property was built on 11.7 hectares of land, which was allocated for the development of an upscale residential estate targeted at various categories of customers.
The estate, according to him, has 225 housing units of various types, which include five bedroom detached houses, four bedroom semi-detached houses, four-bedroom terraces, three bedroom bungalows and two and three bedroom flats.
He said the firm would continue to complement government’s efforts by providing housing for all categories of Nigerians and improve the infrastructural landscape of the nation by embarking on real estate projects of international standards.
Mr Ogunniran added other facilities in the estate include 2.2km length of paved roads, 216 cubic meter sewage treatment plant, 48,000 litre water treatment plant, 376,000 –litre overhead water tanks, fire alarm system and smoke detectors as well as four 750KVA transformers among others.
“This estate will be fully managed by our company to ensure that we preserve these facilities and enhance the value of investments in it, just as we have done with our several other estates in Abuja and other parts of our great country”, he declared.
Also speaking during the inauguration of the estate the President, Real Estate, Developers Association of Nigeria, Chief Olabode Afolayan, assured the federal government that the real estate developers would continue to increase the housing stock and make houses available and affordable.
In her address, the Minister of Lands, Housing and Urban Development, Mrs Akon Eyakenyi, lauded UPDP for maintaining quality standards in the delivery of its estates.
She stated that adequate attention had not been paid to the development of standards in the housing sector and stressed the need to provide quality buildings.
Mrs Eyakenyi, urged other developers to ensure that they build houses that would stand the test of time, adding that the government was working hard to ensure that developers desist from erecting substandard structures.