Lagos seeks financial respite from private funding of housing

The Lagos State government has said that the development of 618 housing units at the Jubilee Estate in Iganmu through the public private partnership model will not only free up  scarce financial resources, but also  provide  employment opportunities for its teeming youth. The project will create 3500 t  direct jobs and about  7000  indirect jobs […]

The Lagos State government has said that the development of 618 housing units at the Jubilee Estate in Iganmu through the public private partnership model will not only free up  scarce financial resources, but also  provide  employment opportunities for its teeming youth.

The project will create 3500 t  direct jobs and about  7000  indirect jobs in the area which is dominated predominantly by the informal sector practitioners such as artisans, laboures, traders and food vendors.

The state Commissioner for Housing, Prince Gbolahan Lawal expressed this hope at a recent signing of memorandum of understanding with Messrs Brains and Hammers Limited.  The project is designed to drive urban redevelopment in the area and result in increased property values in the surrounding environment and a re-positioning of the current site from one which currently offers little value to a highly sought after and well-built residential development.

The name Jubilee Estate was coined by the administration of Governor Akinwunmi Ambode to celebrate the 50th anniversary of creation of Lagos State; as such the estate will stand as a symbol of this celebration for many decades to come.