According to the Commissioner for Housing, Gbolahan Lawal, who signed the MoU on behalf of the state government in Alausa, Ikeja, on Friday, the deal will lead to the construction of 500 houses, comprising 200 units of two-bedroomed flats, 200 units of three-bedroomed maisonette flats and 100 units of four-bedroomed semi-detached units by Ativa Riley Investment Limited, a subsidiary of Multipurpose Infrastructural Development Company Limited.
The commissioner stated that the MoU represented a joint venture agreement under the Lagos Affordable Public Housing initiative, LAPH.
He said, “This project is the redevelopment of the Ikota Housing Estate in the Eti-Osa Local Government Area of Lagos State, which was developed by the Lagos State Government in 1988/89 on a parcel of land measuring approximately 51 hectares.
The estate is presently in a deplorable condition. The state government, in furtherance of its development and urbanisation programme, is desirous of redeveloping the estate into a modern housing estate that will be compatible with the development going on along the Lekki area.
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