The Oyo State Governor, Engineer Seyi Makinde, on Wednesday, flagged off the construction of 360 Housing Units at the Ajoda New Town Estate, located on the New Ibadan-Ife Expressway.
The estate, which is estimated to cost about N2.5 billion, according to the governor, will enhance affordable housing to all and sundry in the state.
A statement by the Chief Press Secretary to the governor, Mr. Taiwo Adisa, quoted the governor as saying that the strategic location of the new estate will ensure that the investors make quick returns on their investments.
The statement indicated that Makinde, while speaking at the flag-off ceremony held at the Ajoda Housing Estate, New Ife Road, Ibadan, declared the determination of his administration to bridge the gap in the housing sector in Oyo State.
He said that the New Ajoda Housing Project is jointly sponsored by the Oyo State Government and Remax Realtors Limited, saying that, while the state provided 13 hectares of land for the scheme, the developer is expected to solely finance the project.
The governor, who stated that the flagging off of the Ajoda Housing Estate is a fulfilment of one of his campaign promises, said the project will consist of 2-bedroom semi-detached houses; 3-bedroom semi-detached houses and 3-bedroom detached houses.
This was just as the governor said that the project will be replicated in other parts of the state so that many residents of the state can benefit from such projects.
He added that investors have begun to repose confidence in the state and are willing to do business in Oyo State because of the way the government is now being run by the present administration.
In another development, Governor Makinde, also, on Wednesday, handed over the Agbowo Shopping Complex, Ibadan, to investors who have committed to turning around the fortunes of the abandoned complex in 104 weeks.
The complex, which is located opposite the Main Gate of University of Ibadan, was commissioned in 1984 but abandoned 12 years ago.