Malaysian Gardens developer partners American coy to rebuild estate

Speaking  yesterday on the ruling, the Special Assistant to the Executive chairman, Global Formwork Nigerian ltd. Victor Uzomba said that a  New York based American Real Estate firm having been satisfied with the project concept have signed a joint venture agreement with Global Formwork thus setting the stage for eventual kick starting of the project.Malaysian […]

Speaking  yesterday on the ruling, the Special Assistant to the Executive chairman, Global Formwork Nigerian ltd. Victor Uzomba said that a  New York based American Real Estate firm having been satisfied with the project concept have signed a joint venture agreement with Global Formwork thus setting the stage for eventual kick starting of the project.
Malaysian Gardens was launched by former President Olusegun Obasanjo in 2004 and is standing on 500 hectares with 14085 housing units is in Saraji District, Apo, Abuja.
He commended the ruling, saying it will allow it to deliver the long overdue housing project to the FCT residents and help reduce the country`s huge housing deficit.
He said that the judgment have removed all encumbrances that have dogged Malaysian Gardens since 2004.
Explaining while the vast housing project was stalled for 11 years, Uzomba said that the company submitted its engineering drawings in 2004 but was only given preliminary approval in 2006, adding that preliminary approvals are never honoured by banks and other financial institutions as prerequisite for getting funding.