Real Estate Projects To Inject N5bn Into Oyo Economy - THE DAILY CRUCIBLE

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Thursday, June 18, 2020

Real Estate Projects To Inject N5bn Into Oyo Economy


•Makinde


- The Daily Crucible

There are indications that the Oyo State government is poised to rejig the state's economy by leveraging on the potentials inherent in the Real estate subsector, especially commercial real estate.

The indication to that effect came with the planned real estate construction in parts of the state. 

Four major players in the real estate business are part - drivers  of the initiative.

This is expected to create direct and indirect jobs, spaces for residentials, retail, offices, manufacturing and provide a source of revenue for thousands of people.


The Director-General Oyo State Investment and Public Private Partnership Agency, Hon Segun Ogunwuyi had signed a Memorandum of Understanding (MOU), on behalf of the State Government, with four private investors to in respect of it.

The investors will develop real estate in Oyo State through concessional agreements. 

The projects will inject about N5 Billion into the state’s economy.

The projects include construction of 360 units of medium and low-cost housing units at Ajoda New Town by Remax Realtors, design, construction and management of Bodija Recreation Centre by Refcon Ltd, development of 45 units of 5-bedroom townhouses at Bodija by Project Scope Ltd and development of 11 units of 5-bedroom houses at Bodija by Wood et al Ltd.

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