The Lagos State Government has signed a Memorandum of Understanding with a developer for the redevelopment of the Ikota Housing Estate.
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.
Lawal said the move was part of plans by the Governor Akinwunmi Ambode-led administration to bridge the three million housing deficit in the state, adding that the government had a plan to construct 20,000 housing units over the next four years.
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.”
The commissioner added that the scheme would be provided with complementary world class infrastructure, such as pedestrian walkways, perimeter fencing, concrete drainage and street lighting.
Lawal said the 500 housing units would provide shelter for about 3,000 Lagosians, adding that once the estate was completed, part of the housing units would be integrated into the rent-to-own scheme of the government.
The Chief Executive Officer, MIDC, Emmanuel Obire, said the first phase of the project would be delivered within 18 months.