by crossriverwatch admin
Cross River State Government and the United African Company of Nigeria Property Development Company have signed a memorandum of understanding for the construction and development of 284 housing units to be known as Golf Estate.
The construction of the housing units, which will be done in two phases, is expected to be completed within 30 months.
Speaking at the ceremony, the state deputy governor, Mr. Efiok Cobham assured UPDC of the state’s commitment to the success of the scheme.
According to Cobham, every member of the State Executive Council had during discussion, made meaningful contributions to its execution because of the emphasis which the state government placed on the project.
He said that the decision to partner the company to develop the estate was a wise one as it was a beginning which will act as gateway for other joint-venture investments.
The deputy governor explained that UAC, the parent body of the company started business in Nigeria in Calabar during the colonial era, and that the signing of the agreement signalled the home coming for the company.
He said the state provided the best environment for business and that the state was delighted to be doing business with UPDC.
Cobham therefore enjoined all those involved in the execution of the project to commence work as soon as possible to ensure it was completed on schedule.
The Managing Director/Chief Executive UPDC Plc, Mr. Hakeem Oguniran, who said the company had over time established its presence in Lagos, Abuja and Port Harcourt, was happy to partner Cross River State in the construction of the housing estate.
Oguniran said the board of the company was aware of the ceremony and had given them the go ahead to partner the state and promised the construction of the housing units will be completed and delivered on schedule.
The signing of the MOU was the second of such partnerships between the Cross River State government and the private sector in its bid to provide first-class housing in the state.
200 housing units being the first phase of the construction of about 2000 housing units for civil servants through mortgage financing by Aso Savings and Loans are ready for commissioning.