Home NEWS Post-Covid Economic Recovery: Oyo Signs MoU Worth N5Billion with Real Estate Investors

Post-Covid Economic Recovery: Oyo Signs MoU Worth N5Billion with Real Estate Investors

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As part of the efforts to prepare for the post-covid-19 economic recovery as well as to develop the real estate in the state through concessional agreement, Oyo State Government has signed a memorandum of understanding (MoU) with four private investors in Nigeria.

The signing of the MoU which was done on Tuesday at Ibadan by the Director-General, Oyo State Investment, and Public-Private Partnership Agency, Hon. Segun Ogunwuyi and four investors would see to the injection of N5billion into the real estate sector of the State ‘s economy and will ameliorate the effect of the Covid-19 pandemic, among other steps involved by the administration of Governor Seyi Makinde.

The design, construction, commisioning and management of Bodija Receeation Center will be done by Refcon Ltd and Construction of about 369 units of medium and low-cost housing estate by Remax Realtors.

Other projects include the development of eleven units of premium 5-bedroom units by Wood et al Ltd and the development of forty-five units of premium 5-bedroom townhouse by Project Scope Ltd.

According to Ogunwuyi, the concessional agreement would see to the injection of N5billion into the State’s economy and would be felt in youths employment and improved commercial atmosphere.

“The projects we just signed agreements on include construction of 360 units of medium and low-cost housing units on 13 hectares at Ajoda New Town and development of eleven units of premium 5 bedroom terrace house with all necessary infrastructures on vacant land at Oba Awosika street at Bodija.

“Also included in the development of forty-five units of premium 5 bedroom townhouse with necessary infrastructures on vacant land at number 1&3, Oba Akinyele street, Bodija, Ibadan while the last one will involve the design, construction, commissioning and management of Bodija Recreation Center, this will be turned into a self-sustaining, multipurpose sports and recreation center and it will become the foremost recreation center for the use of residents of Ibadan and visitors from all over the country,” he said.

Present at the event was the Chairman, Oyo State Housing Corporation, Barr. Bayo Lawal and other representatives of the State government and private organizations.

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