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Rivers State Government hands over Housing Development in New City to private investor, Afriprops


The MD/CEO, AFRIPROPS, Engr. Charles C. Njoku [3rd from right]; the Administrator, Greater Port Harcourt Development Authority, Ambassador Desmond Akawor [2nd left],the Authority Board Chairman, Ferdinand Alabrabra  (middle), and the Board /Authority Secretary, Erastus C. Awortu. From right are, the Afriprops Legal Adviser/Company Secretary, Chibuzo Aguocha and Mr. Victor Halliday, Director AFRIPROPS, during the official signing/handing over ceremony of Olive Crest Estate site to AFRIPROPS Development Company Ltd. by the Rivers State Government.
                               
The Rivers State Government on Thursday January 11, 2018 restated her desire to hand over the development of housing estates in some parts of the new city currently undergoing construction to private investors.

Chief Ferdinand Alabraba, the Chairman, Greater Port Harcourt City Development Authority, (GPHCDA), reassured on government’s intention at the signing and hand-over ceremony of Olive Crest Estate site to Afriprops Development Company Ltd, a leading real estate management, property development, infrastructure concessioning and infrastructure contracting company of choice in Nigeria.

He said that the state government’s desire to handover the site to Afriprops Development Company Limited in Port Harcourt was intended to address housing deficit in Rivers. He noted that Afriprops would collaborate with GPHCDA to build new homes and state-of-the-art facilities at Olive Crest Estate in the new city. “We look forward to an estate that will help populate Greater Port Harcourt because any city without people is a ghost city”.



The MD/CEO, AFRIPROPS, Engr. Charles C. Njoku (right), exchanging signed agreement with the Administrator, Greater Port Harcourt Development Authority, Ambassador, Desmond Akawor for the official handing over ceremony of Olive Crest Estate site to AFRIPROPS Development Company Ltd. by the Rivers State Government.
 
Chief Alabraba reaffirmed that Gov. Nyesom Wike is ever committed to bridging the housing gap and that GPHCDA is very happy, willing to welcome, partner willing investors like Afriprops for the development of the new city. He also pointed out that the major obligation of the government is to provide land for the development of massive housing and estates for the people and expressed the hope that this having been done by the government that Afriprops would commence work immediately as soon as all contract formalities are concluded.
 
In his own remarks, the Chief Executive Officer of Afriprops, Engr Charles Njoku, said that Olive Crest Estate is a Public Private Partnership initiative of the Rivers State Government. Njoku thanked the state government for its investor-friendly initiative and transparent process that produced Afriprops as one of the partners for the project.

He also expressed optimism that the estate would reduce the widening housing deficit in the country. “Nigeria currently has a housing deficit of about 17 million, and Rivers state being one of the most industrialised states in Nigeria with three-times the size of Lagos has a good percentage of that deficit. The estate covers 46.11 hectares of prime land comprising of residential built area, site and services for residential and commercial plots,’’ he said.

According to Njoku, the new estate will be self-sustaining and will be equipped with 24 hours electricity supply; underground cabling system; industrial borehole water treatment plant and water reticulation and storm water drainage. He said the facility would be equipped with smart technologies; water parks and ample parking space; swimming pool, restaurants and bar and sporting and recreational facilities, among others. 

To demonstrate Afriprops’ commitment to the partnership with the Rivers State Government, Njoku revealed that his company will also build its Regional office and asset management company within the estate.He assured that the project would be completed with specifications as cited in its Memorandum of Understanding with GPHCDA.

Also present at the signing and site handover ceremony were Mr Victor Halliday, a Director of Afriprops Development Company Ltd and Directors of Greater Port Harcourt City Development Authority alongside its Administrator, Ambassador Desmond Akawor.

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