Developer, NUJ’s N4bn pact to deliver 800 housing units for journalists

Primewaterview Holdings (PWV), an indigenous estate developer, the Nigeria Union of Journalists (NUJ), Lagos council, and National Union of Women Journalists (NAWOJ), have sealed a pact for the construction of 800 housing units at Abaren Village, Mowe, in Obafemi Owode local government of Ogun State, for journalists who subscribed to the Lagos NUJ housing scheme.
Primewaterview, a property development firm and a key player in real estate business, is into development of luxury property and is currently engaged in the construction of over 700 housing units within the Lekki axis.
 Deji Elumoye, chairman of the NUJ in Lagos, said the developer would build each housing unit at a cost of N5 million to be paid over a period of time, meaning that the 800 housing units would be developed at a cost of N4 billion within the next 36 months.
He disclosed that NAWOJ was the initiator of the project in partnership with the Lagos NUJ and that the union had been on the project over a year looking for a worthy developer to commit funds into the project.  According to him, the developer would construct three bedroom bungalow per plot with parking space and adequate social amenities.  “We are carrying out this project in a transparent manner. Primewaterview has executed lots of projects within and outside Lagos. Having done lots of investigation with proven integrity, we had to settle for them.
 “The project would lead to the development of three bedroom bungalows with the construction of 800 housing units. You are going to have shopping complex, schools, police post, playing ground and other facilities in the estate; it will be a big and standard estate,” he said.
 Elumoye added that the project would be undertaken in phases, with the first phase taking delivery of 200 housing units in the next six months on 2,000 square metres as allocation would be on first come first served basis.
 Ify Omowole, president of NAWOJ, said the association was the initiator of the project and that the project covered a land size of 640,000 square meters.  She said the estate would have a global certificate of occupancy, adding that journalists would bear 40 percent of the funding while the remaining 60 percent would be borne by a yet to be named financial institution.
 Adetunji Ogunwusi,  chairman, Primewaterview Holdings Limited, said the company would deliver high quality housing units that journalists would be proud of, while soliciting the support of the subscribers to the project.
 Also, Morola Babalola, group managing director/CEO of Primewaterview Holdings, on her part said the company would ensure speedy delivery of the project and that the company would soon move to site to begin work, adding that the financiers of the project would be announced during the grand opening ceremony which is expected soon.
JOSHUA BASSEY
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