The Lagos State Government has signed a Memorandum of Understanding with a developer for the redevelopment of the Ikota Housing Estate. According to the Commissioner for Housing , Gbolahan Lawal , who signed the MoU on behalf of the state government in Alausa, Ikeja, on Friday, the deal will lead to the construction of 500 houses, comprising 200 units of two -bedroomed flats , 200 units of three -bedroomed maisonette flats and 100 units of four-bedroomed semi-detached units by Ativa Riley Investment Limited , a subsidiary of Multipurpose Infrastructural Development Company
Limited .

Lawal said the move was part of plans by the Governor Akinwunmi Ambode- led administration to bridge the three million housing deficit in the state , adding that the government had a plan to construct 20, 000 housing units over the next four years. The commissioner stated that the MoU represented a joint venture agreement under the Lagos Affordable Public Housing initiative, LAPH.

He said , “ This project is the redevelopment of the Ikota Housing Estate in the Eti-Osa Local Government Area of Lagos State, which was developed by the Lagos State Government in 1988/89 on a parcel of land measuring approximately 51 hectares.“
The estate is presently in a deplorable condition. The state government , in furtherance of its development and urbanisation programme , is desirous of redeveloping the estate into a modern housing estate that will be compatible with the development going on along the Lekki area.”

The commissioner added that the scheme would be provided with complementary world class infrastructure , such as pedestrian walkways, perimeter fencing , concrete drainage and street lighting .

Lawal said the 500 housing units would provide shelter for about 3 , 000 Lagosians, adding that once the estate was completed, part of the housing units would be integrated into the rent -to -own scheme of the government . The Chief Executive Officer, MIDC, Emmanuel Obire, said the first phase of the project would be delivered within 18 months.