Govt Signs Pact With Developers For 1,672 Houses

The Minister of Lands,
Housing and Urban Development, Mrs Akon Eyakenyi, has signed a Memorandum of Understanding (MoU) on behalf of the Federal Government, with Messrs Signature Value Homes Limited for the development of 1,672 houses in the Federal Capital Territory.
The project, which is to gulp over 80 million dollars was also signed by Mr Anand Romani, who is the managing partner of the developer, on behalf of the company.
Eyakenyi said that the signing of the pact was significant to the present administration, to meet its promise in the housing sector.
She said that the development of the houses on a 20-hectares piece of land situated at Gwagwalada was a mixed development that would comprise one, two and three-bedroom flats.
The minister said that the ministry had the mandate to handle the process of providing houses and to achieve this, advert was placed and competent developers were invited to partner with the ministry.
“Several people applied, due process was followed and the selection was made and today we are about starting the implementation process with the developers carefully selected by the ministry.
“The Messrs Signature Value Homes Limited developers did a very beautiful presentation and gave all the proofs  that they have financial backing to undertake the project.
“The ministry, having carefully handled the technical part, is today signing the MoU to enable the developer mobilize to site”, she said.
Eyakenyi also said the role of the ministry in the project among others, was to stress the need for quality and affordable houses, adding that the ministry gave an unencumbered land  to the developer free of charge so as to take part of the construction cost off them.
Also, the Minister of State for FCT, Mrs Olajumoke Akinjide, commended the minister of lands for putting to good use the land allocated to the ministry.
In his remark, Ramani said that the entire development would be done in phases, with the overall cost of 80 million dollars and up to six types of houses.
He said that 300 to 400 houses would be constructed in the first phase of the development which would be completed between six  and nine months.