Lagos State Government has said that it will deliver 14,187 housing units across the state in the next two years through joint venture partnership.The Commissioner for Housing, Mr. Gbolahan Lawal, stated this at the ongoing 2018 ministerial press briefing to mark the third anniversary of Governor Akinwunmi Ambode’s administration.He said by this initiative, the state intends to provide 20,000 housing units over a period of four years spanning 2017-2020.
“This initiative is implemented through a joint venture arrangement between the state and the private investor/joint venture partner. Under this initiative, the state provides land, the documentation in terms of permits, approvals, registration of documents and stamping as its own contribution while the joint venture partner provides funds and construction expertise as its contribution,” he said.
According to him, the Special Purpose Vehicle (SPV)/Project Company is made up of both parties and that the shareholding would be based on the value of the equity contribution of the parties.
