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Business News of Monday, 8 August 2022


Sanwo-Olu inaugurates 16th housing project

Lagos State Governor, Babajide Sanwo-Olu Lagos State Governor, Babajide Sanwo-Olu

The Governor of Lagos State, Babajide Sanwo-Olu, has restated his commitment towards reducing the housing deficit in the state following the inauguration of his administration’s 16th housing project.

The project – Channel Point Apartments, was jointly developed by the Lagos State Development and Property Corporation and a private real estate firm, Brook Assets and Resources Limited.

Channel Point consists of twin blocks of 38-units of two- and three-bedroom flats on a land size of 2,832 square metres.

Speaking during the inauguration, the Lagos governor said his administration would continue to partner the private sector to provide affordable housing for Lagos residents.

He said, “I congratulate LSDPC and Asset Brooks and Resources Limited on the successful completion of this edifice. Progress is indeed achievable when the public and private sector enterprise come together, bringing their core strengths to the table for the good of society.

“This positive outcome is yet another testimony to the effective collaboration between government and the private sector in the implementation of our agenda to provide affordable and decent housing for our people.

“I am impressed by the quality of work done by the contractor, which reflects the quality of monitoring and supervision by the LSDPC, which has sustained the high standards set long before now.

“We shall continue to pursue and implement this tried-and-tested model of public-private collaboration, as it has proven to be a potent strategy for keeping up with the rate of demand for housing by our rapidly increasing population.”

The LSDPC Managing Director, Ayodeji Joseph, said the project was another milestone recorded by the Sanwo-Olu administration in addressing the housing deficit in Lagos.

According to him, the development of the Channel Point Apartments was conceptualised during Sanwo-Olu’s tenure as the Chief Executive Officer of LSDPC.

Also, the Managing Director of Brook Assets and Resources Limited, Lanre Sola, said, “Despite the challenges we encountered in the course of the development, including the paucity of funds occasioned by the outbreak of COVID-19, we were resilient and showed great commitment to deliver the project.”

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