Oyo, UPDC sign MoU on transformation of govt. quarters into luxury apartments

"He explained that each apartment would be equipped with modern facilities such as fire detection and fire fighting equipment, imported fully-fitted kitchens, fire and burglary alarm system, digital satellite TV system, external CCTV system, luxury sanitary wares, en-suite rooms, marble floors and decently paved walkways and green blended area among others"

The Memorandum of Understanding for the re-development of existing government residential quarters in Ibadan to luxurious apartments under a public-private partnership (PPP) arrangement has been signed between the Oyo State Government and UPDC Plc, a subsidiary of UAC Nigeria.

At a brief ceremony held at the Executive Council Chambers of the Governor’s Office at the week-end, Governor Abiola Ajimobi signed on behalf of the state government while the Managing Director of UPDC Plc, Mr. Akeem Ogunniran signed on behalf of his company.

The arrangement will ensure the development in two phases a total of 45 housing units in Quarters 790, 791, 792 and 793, covering a total area of approximately 2.035 hectares along Oba Biladu III Road, Agodi GRA.

While the first phase of the project, which had earlier been approved by the State Executive Council, consists of 26 housing units, the second phase will cover 19 units, with the whole project slated for completion in 12 months.

It would be recalled that a total of 219 housing units belonging to the state government had been sold to private individuals by the immediate past administration of Otunba Adebayo Alao-Akala.

Governor Ajimobi, while speaking at the signing ceremony, said that the project, with the estimated revenue of N2.535 billion, was in line with his administration’s transformation agenda.

He explained that each apartment would be equipped with modern facilities such as fire detection and fire fighting equipment, imported fully-fitted kitchens, fire and burglary alarm system, digital satellite TV system, external CCTV system, luxury sanitary wares, en-suite rooms, marble floors and decently paved walkways and green blended area among others.

The Managing Director of UPDC Plc, Mr. Akeem Ogunniran, in his remarks, expressed his company’s commitment to the transformation of the affected structures into luxurious apartments within the stipulated time.

He said that his company had, at various times, partnered with some other states and organizations for similar arrangements, pledging that quality structures would be delivered at the end of the project.

@@@