…Estate promises 1,440 houses
Armed with a whopping N14.5 billion, a mortgage institution and a foreign investment firm are set to reduce the housing deficit in Nigeria by 1,440 units. Trans Atlantic Mortgages Limited and GEP (BVI) Group, the two parties in the development of the estate to be named Legacy City in the oil rich Niger Delta region, come to the table with compelling business reputations and solid capital base.
Whereas Atlantic is a leading Nigerian primary mortgage institution with strong capital base offering cutting edge mortgage services, GEP (BVI) Group from the Republic of Oman, is a subsidiary of the multi-billion dollar Omani family conglomerate, The Zawawi Group. The Group, founded by late Qais Bin Abdul Munim Al Zawawi, former Minister of Interiors, Economic and Financial Affairs and Deputy Prime Minister of Oman as well as former chairman of Oman Oil Company, has over 23 subsidiary companies with interest in construction, mining, technology, insurance, banking, healthcare, tourism, real estate, oil and gas, and power.
The estate to be built in Yenagoa, Bayelsa State, is conceived as a modern community development initiative that will provide affordable and luxury housing for Nigerians in both urban and rural locations. The project is part of GEP Group’s plan to deliver more than one million energy-saving housing units across the country.
The estate is a modern European standard self-sustaining community development with world-class infrastructure. According to the developers, communities are developed at a considerably lower cost and also quicker speed than traditional construction methods.
“Each unit will have access to modern telecommunications solution platform, water and drainage system, security, smart energy options, food security systems, paved roads, commercial, educational, religious and social components such as schools, club houses, shopping malls, libraries, worship centers, health care centers, etc”, they said.
According to officials of the company, the vision of the Group is to partner with both private and public sectors to actualize Vision 20:20 and Millennium Development Goals. It is also their vision to support the Federal Ministry of Lands, Housing and Urban Development to reduce the apparent housing deficit in the country; partner with government in its efforts to eradicate poverty in Nigeria, and work with development-driven and people-oriented state governments in providing housing for their citizens, especially civil servants.
nt and the construction industry in general. It leverages on global partnerships with some of the leading master planning and community development companies in the world. The Group has participated in landmark projects around the world including the development of Masdar City in the United Arab Emirate (UAE); UAE Mall of the Emirates; Thailand industrial ring road bridges 1 and 2; Hong Kong International Airport; the famous Wembley Stadium; the Grand Mosque, Muscat; the Opera House, Oman; the Wave Residential Estate, Muscat, Oman among several others.
