- At The City People Real Estate Awards In LAGOS
At the just concluded City People Real Estate Awards held at the Lekki Coliseum, in Lekki area of Lagos, one governor stood out among the winners. That was Senator Ibikunle Amosun, who won the Most Real Estate Friendly Governor Award, for his various housing projects scattered across Ogun State. Although, he was not physically present, he sent 2 of his top aides to represent him. They are, Mr. Babajide Odusolu, the Governors Special Adviser and MD of OPIC and Mr. Biyi Ismail, a Special Adviser and Director General, Bureau of Lands & Survey in Ogun State.
Both received the special award on behalf of Gov. Amosun. After the ceremony, City People asked Jide Odusolu, the MD of OPIC, about the numerous successes recorded by Gov. Amosun in Ogun in the real estate sector. He was happy to reel out a long list of projects that puts Gov. Amosun as No 1. “Gov. Amosun has done a lot in the real estate sector in the last 8 years,” he explained. “In the last 8 years, starting from ground zero, the Amosun government has successfully altered the landscape of Ogun State.
He deliberately chose Affordable Housing & Urban Regeneration as 2 key elements of this transformation. We successfully redeveloped housing for public servants – legislative quarters & commissioners quarters; he provided Laderin Housing Scheme for Civil Servants. He ensured private sector homes through Orange Valley & HID Awolowo Estates. Currently, we are finishing Oke Ata Budget starter homes; New Makun affordable housing scheme and MTR Gardens premium apartment complexes. In Agbara, we also did New Dawn Gardens & New Dawn Terraces.
“The thrust of our Housing Policy is INCLUSIVE growth” he revealed.”. To achieve this, our housing agencies – Ministry of Housing, OPIC & Housing Corporation, working in tandem with other agencies have ensured that all sectors of society are fully catered for”.
“Before we leave office, we will complete the Abeokuta City Center with the largest mall in Nigeria; the new judicial complexes; all these are not adding the various model schools, new institutions, new industrial zones such as Flower Gate.
“The governor has repeatedly said his goal is to leave Ogun State far better than he met it. The support of our people and the leadership of His Excellency, Senator Ibikunle Amosun (FCA, CON), is what has enabled the agencies – Ministry Of Works, Ministry of Housing, Bureau of Lands, Ogun State Housing Corporation and Ogun State Property Investment Corporation – OPIC-to achieve these feats. As for Urban regeneration, we have the new President Muhammed Buhari Estate at Kobape, renewal of OPIC Agbara Industrial Estate & New Makun City along Lagos Ibadan Expressway.
That Gov. Amosun has done a lot in Real Estate Sector in Ogun State can be seen across the state, since he came in 8 years ago. When he started his second term in 2011, affordable housing and Urban renewal were two areas he promised to do something about. He said he was going to invest in Housing, Urban Development and Renewal. He explained that a well-planned livable environment was critical for stimulating economic growth and development as it enhances productivity, commercial activities and the quality of life. He also pointed out that Urban Renewal is also globally recognised as an integral part of substainable development. Areas of focus within the Development Plan are as follows: (1) Improving access to decent and affordable housing (2) Improved land Administration System in accordance with the provision of Land Use Act and Institutional reforms of the Bureau of Lands, in line with global best practice (3) Development and Implementation of a Special Development Strategy for all parts of Ogun State provides for appropriate land allocation and utilisation, adequate infrastructure and the provision of general amenities for the inhabitants (4) provision of affordable and serviceable plots of land across urban areas.
Since he became governor, he has provided investment opportunities across the state and they are available in sustainable mains infrastructure, city centre, integration management, urban transportation, public space development and management, hotel management, anchor retail, commercial investment. For example, there is the Ibara Renewal Programme covering 40 hectares, Ibara GRA is Abeokuta’s oldest and most prime-purpose built government renewed area, an enclave of coveted by real estate developers for rejuvenation. The project is a strategy for redeveloping and revitalising this landmark area into a mixed-use community, connected to the Abeokuta City Centre Project.
Under Amosun, Ogun State has witnessed tremendous growth in all areas of Urban and infrastructural development. Working strategically through a series of MDAs, which include the Ministries of Works and Infrastructure, Housing, Urban & Physical Planning, Bureau of Lands, the State Housing Corporation and OPIC. Other agencies strategically related to the initiatives in this area include the Ministries of Environment and the Bureau of Transportation. The mandate Gov. Amosun gave his team was to develop and work through a blue print that has at its heart, reframed and implementable pro-growth policies for urbanisation and primary economic growth driver.
Part of the real estate development efforts is the New Makun City, which is a 750Ha, new town development strategically located along Nigeria’s most travelled route-the-Lagos-Ibadan express way. Phase 1 (350ha)-residential, commercial and recreational districts. Project commenced October, 2015, and the first phase is fully subscribed. Phase 2 (400Ha)-heavy industrial district. OPIC is in second stage discussions with an anchor buyer, a heavy-goods manufacturer.
Affordable homes (priced between N3.5m-N13.5m) are under development, with funding from Family Homes Funds. There are Investment Opportunities in personal acquisition of prime real estate, there are also exciting prospects for commercial developers, golf course and recreational parks as well as opportunities for development and management of mains services such as sewage and waste management, schools, and retail for a captive market.
There is a lot of attention on Sagamu Suburban Community. Sagamu is a sprawling Suburban Community, barely 20 minutes from Abeokuta and 5 minutes off the Lagos-Ibadan interchange. The development in the Sagamu Suburban Community is planned to attract the lower/middle and middle level workforce of the adjoining industrial enclave. With a total of 450,000sqm space, delivering 4,800 homes in a sustainable community. This project is set to establish a benchmark in affordable housing delivery in Nigeria.
There is also another investment opportunities in the Isheri Commercial City/MTR Gardens Residential Development. This project ties into the other urban renewal and urban development initiatives being under taken by related MDAs. This area has the highest concentration of industries with Senior executives still commuting from Lagos. This project creates opportunities for new developments and new ownership. Funding requirement for Phase 1 is up to N20 billion.
The 20Ha regeneration project is located at KM5 along the Lagos-Ibadan corridor. The 2 part initiative consists of a new 10Ha commercial hub and another 10ha upscale residential suburb. The commercial city includes an existing Grade B office complex and event centre, ripe for upgrading to take greater benefit of its location. MTR Gardens is a demonstration of how the delivery of critical social infrastructure such as housing, could address existing environmental and social challenges in a neighbourhood. Through this project, 10Ha of wasteland has been reclaimed; a 2km road network is being built to serve the larger community and land ownership and titling issues resolved in conjuction with related MDAs.
There is also Magboro New Town. This is 522Ha of unplanned massland located about km 25, along the Lagos-Ibadan expressway is ripe for redevelopment, with creative solutions to address the challenges of regeneration in an area with some well-established settlements.
OPIC has done a lot. It seeks investors and partners in the development of about 1,000 units for residential houses, reclamation of entire 500 hectares of swampy area, also in the area of Joint Provision of Infrastructure. Creation of light commercial districts.
As part of the Urban Regeneration Initiatives of Gov. Amosun, there is the Redevelopment of Abeokuta City Centre. It is planned on 50 hectares of land in the core of the capital city of Abeokuta. It is envisaged that this development will herald the renewal of one of Nigeria’s most ancient cities and help maximise the obvious commercial and residential opportunities inherent in Abeokuta proximity to Lagos, the already over-populated commercial capital of Nigeria. The site is less than 60 kilometres from Lagos.
There is a commercial Zone-shopping mall and recreation centre, 5-star hotel and spa, a convention and exhibition centre, multi-storey lettable offices and shops. As for Residentials, there are 120 to 150 units of luxury apartments. There are recreation parks and green spaces.
Another attractive real estate project is the Ogun State New Government City Project. The 64 00Ha site has been planned as a low density civic, government and residential exclave with associated social, civil and services infrastructure. The vision is to create a new Abeokuta that is attractive, safe and well-designed, to live, work and play.
Another attractive real estate project that is in high demand right now is the development of the President Mohammadu Buhari (PMB) Estate. This PMB Estate is a 500-hectare site established as a new residential suburb to address the housing and socio/cultural needs of the workforce in the expanding industrial hub, which is barely 15 minutes away.
The development is designated as a Site and Services Scheme. It has a number of facilities that makes it attractive like high quality road network, storm water collection/channelisation, independent power source and distribution, water treatment plants, storage and reticulation, domestic gas supply, central sewage treatment plant, central waste management services.
There is also MITROS City in Akute. It is a low-laying expense of largely undeveloped land that adjourns the Lagos-Ibadan expressway. This 2000Ha site is being transformed into a sustainable city. The attraction the project offers include the following: Flood control-a flood system with a retention basin with adequate flood retention capacity and dredging of the Ogun River axis to accommodate required water body for the proposed estate; Sandfilling the low land-from below 3m above sea level to 10m-15m above sea level; Power Generation-supply and provision for both internal consumption and transmission to National grid.
Then, there is infrastructure: Road network, efficient transport system, sewage, water and drainage facilities. There is also the attraction of Urban Community-creating on outstanding development on this 25km site, a new town setting the template/model for the redevelopment of the suburbs on the outskirts of the state.