Oyo State government has signed a Memorandum of Understanding (MoU) with four private investors in Nigeria towards the development of real estate in the state through concessional agreement.
Five billion naira is to be injected into the real estate sector of the state’s economy aimed at ameliorating the effect of the Covid-19 pandemic, among other steps evolved by the administration of Governor Seyi Makinde.
The projects include the design, construction, commissioning and management of Bodija Recreation Center by Refcon Ltd and construction of about 360 units of medium and low-cost housing estate by Remax Realtors.
Others are the development of eleven units of premium 5-bedroom units by Wood et al Ltd and the development of forty-five units of premium 5-bedroom townhouse by Project Scope Ltd.
Speaking at the signing held in Ibadan, the Director-General, Oyo State Investment and Public-Private Partnership, Mr Segun Ogunwuyi said the concessional agreement on the injection of 5 billion naira into the state’s economy would be felt in youths’ employment and improved commercial atmosphere.
Mr Ogunwuyi said the present administration in Oyo State, under the leadership of Engineer Seyi Makinde was doing everything possible to turn around the fortune of the state for the better.
The projects include construction of 360 units of medium and low-cost housing units on 13 hectares at Ajoda New Town and development of eleven units of premium 5 bedroom terrace house with all necessary infrastructures on a vacant land at Oba Awosika Street at Bodija.
Iyabo Adebisi
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