Housing Infrastructure News & Reports

FGN/NOVONE Social Housing Estate Ready for Acquisition

The Chairman/Chief Executive Officer of Novone Properties Limited, Arc. Ezekiel Nya-Etok has revealed that the phase one of the Social Housing Estate located at Ikot Ntuen Nsit opposite University of Uyo Teaching Hospital is ready for acquisition by interested members of the public.

In a Press Release issued recently, the phase one of the Housing Estate is made up of 60 units; 30 blocks of 3 Bedroom semi-detached bungalows all room en-suite with an additional guest convenience. All are selling at subsidized prices.

Arc. Nya-Etok said the subsidized price for Civil Servants is pegged at eight million, five hundred thousand Naira (N8.5Million) while non-civil servants will acquire it at Twelve Million, Five Hundred Thousand Naira (N12.5Million) with an initial ten percent (10%) deposit by the two categories of prospective buyers in order to be enrolled for the scheme.

The project has facilities of “asphalted road network for the entire phases 1 and 2 which have been completely done; water reticulation including ground tank, overhead tank, borehole; water treatment plant and a power generating set all at 85% installation stage; four Fire hydrants and external electrification with poles planting/wiring, and two 500KVA transformers completely installed” among others. The project according to the Novone Properties Chairman, is a “Public-Private Partnership (PPP) arrangement between the Federal Government and a private developer, Novone Consult Limited. By this arrangement, the Federal Government made available the land and provided basic infrastructure, while the private developer exclusively undertook the funding, construction, supervision, sales and management of the estate”.

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