Obaseki’s affordable housing plan opens Edo’s real estate sector to private developers

…as EDPA unveils criteria for PPP, JV  

Edo State Governor, Mr. Godwin Obaseki’s reforms in private property management and plans for affordable housing have opened up the real estate sector to private developers.

The state government had ratified a law banning activities of Community Development Association, setting up a Private Property Protection taskforce to ensure that developers and property owners do not fall prey to land-grabbers and other unscrupulous elements in the property sector.

It is against this backdrop that the Edo Development and Property Agency (EDPA) is calling on developers to tap from the growing real estate sector in the state for development of affordable housing in a develop, finance, build and sell arrangement. The plan also makes room for joint-venture partnerships.

Executive Chairman, EDPA, Ms. Isoken Omo, in a release, said the state government will be exploring the private-public partnership (PPP) option in developing affordable real estate projects across the state.

She said, “The projects will be sited on various strategic parcels of land pooled into the Edo State Housing Development Land Bank domiciled with the agency.

“Other sites for the projects include new sites of land that will be identified in line with the proposals submitted by prospective developers and investors who are interested in partnering with the state government in developing, financing, building and selling housing units across the state.”

Recall that Governor Godwin Obaseki had, in his Workers’ Day address, promised social housing for workers and other residents in the state.

 “In delivering Housing to workers, plans are on between the Federal Mortgage Bank, Nigeria Labour Congress (NLC), Trade Union Congress (TUC), Nigeria Employers Consultative Association (NECA) and the Edo State Government to provide Housing for Edo State workers. The repositioned Edo Development and Property Agency (EDPA) is also working on social housing for Edo workers by private investors,” the governor said at the Workers’ Day event.

A bill to reposition the EDPA was signed into law recently by the governor to empower the agency for partnerships that will boost housing stock in the state and reduce the overall national housing deficit figures.