A real estate development firm, Yah-Wahab Investment and Construction Company Limited has completed the 315 housing units of the Oba Sikiru Adetona Housing Estate, Ilese, Ijebu Ode, through the credit facilities of the Federal Mortgage Bank of Nigeria.

The estate, according to the Chairman, YICCL, Chief Wahab Oshinaya, which consists of one, two, three bedroom flats and bungalows, is situated on 25 acres of land along the Ijebu Ode-Ore Expressway.

Speaking at the inauguration ceremony of the estate on Wednesday, Oshinaya disclosed that the completion of the project was another in the series of the firm‘s involvement in the delivery of affordable housing to Nigerians.

He added that the company had been involved in the provision of residential housing projects in Abuja, Ota and Ofada adding that it has also started work on hundreds of housing units in Arepo on the Lagos-Ibadan Expressway.

The company, which began business in the real estate sector eight years ago, Oshinaya explained, began the provision of housing estate in collaboration with the Ifako/Ijaiye Local Government, Area of Lagos with the construction of the Kudirat Abiola Estate, an initiative described as the first in the country by any council area.

”Currently, we are handling many projects in the Federal Capital Territory in Wuye Phase 2, 3, 4 and 5 of Abuja where 1,000 hosing units are expected to be developed,” he said.

The Managing Director, FMBN, Alhaji Yayaha Ahmed, who was represented at the event by his Personal Assistant on Mortgages, Mr. Yussuf Yinusa, said that the bank had devised strategies to increase the delivery of housing needs in the country.

”We are encouraging the formation of housing cooperative societies to increase the participation of more people and more capital in this area. We also plan to effectively link the Nigerian housing market to encourage synergies and collaborations,” he said.

An Emeritus Professor, Akin Mabogunje, who traced the efforts of the bank when he was the chairman of the board of directors, said the idea of developing estates was to meet the housing needs of the low and middle income earners.

- Punch Newspapers