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Affordable Housing, Real Estate

Why Obaseki is embarking on luxury apartments devt in Benin, by EDPA

The Edo Development and Property Agency (EDPA) has said its foray into luxury apartment development in Benin City, the Edo State Capital is a response to the changing dynamics in the business community in the city ushered in by the booming private sector presence.

Executive Chairperson, EDPA, Isoken Omo, in a chat with journalists, said that the state government is backing the project because it aligns with its vision to open up the state for development and provide a conducive environment for investors to do business.

Recall that the agency recently signed an agreement with Iron Projects Limited for development of 18-unit luxury apartment in Central Road, Government Reservation Area (GRA), Benin City, being the first of such project in the state.

Omo said that the state government’s contribution to the project is just the landed property and provision of necessary support for the realization of the project, as there was no funding commitment on the side of government.

According to her, “The project will meet part of the housing requirements by providing shelter but more importantly, it will create economic activities which will drive employment and encourage people to come and live, work and enjoy Benin. Businesses in the state will also benefit hugely from this investment. New lines of businesses will open up as a result of this project.”

She continued, “We have hotels in Benin, like Protea Hotels and Best Western Hotel, which cater for high value individuals that come to do business in the state, but they are not sufficient because of the numbers of such visitors.

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“Our development will be completely furnished and serviced to provide a home away from home for visitors. Its proximity to the Edo State Government House, Benin Airport and the Golf Course, coupled with the serenity of the location, will make it a must-have for frequent visitors to the State. We already have interested buyers for the units.”

Source: Thenationonlineng

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