Oyo State Governor, Engr Seyi Makinde on Wednesday Flagged-off the construction of 360 Housing Scheme at Ajoda New Town Estate, Egbeda, Ibadan which is estimated to cost about N2.5b through Public Private Partnership with the State Government providing 13 hectares of land for the project.
Speaking at the ground breaking ceremony, Governor Makinde said this initiative is the fulfilment of one of his campaign promises.
He added that the need for affordable housing scheme in the capital city is evident with statistics showing that the population of the city has been growing at over 2% since 2018. His words:
He said: “This morning, we flagged off the construction of 360 housing units at the Ajoda New Town Estate, Egbeda LGA. This is in keeping with our manifesto promise to “facilitate private sector driven housing delivery through variants of public-private partnership (PPP) initiatives.”
“This project which is a PPP initiative with Remax Realtors Ltd, will cost N2.5 Billion. The Oyo State Government through the Oyo State Housing Corporation is providing thirteen (13) hectares of land for the scheme, while the developer will solely finance the entire project.”