Oyo attracts N35bn investments in real estate in 5 years – Govt

By Oluseye Ojo

The Oyo State Government has attracted N35 billion investments in real estate within the past five years.

Available documents showed that the country has a housing deficit of approximately 28 million units and that Nigeria needs 700,000 new homes annually to bridge the gap.

Chairman, Oyo State Housing Corporation, Ademola Omotosho, at the flag-off of the Blue Sapphire District “SmartCity” Project in Ibadan, said the state government was doing its best to fill the housing gap.

Top government officials from the state, critical stakeholders in real estate, developers and realtors, including Tinath Realities, Asimais Company Limited, traditional rulers, and President-General, Central Council of Ibadan Indigenes (CCII), Chief Ajeniyi Ajewole, were present at the programme held at Ikija, along Lagos-Ibadan Expressway, about 10 kilometres to Ibadan City.

  Chairman, Oluyole Local Government Area, Akeem Olatunji, who flagged off the project, stated that it exemplified the progressive vision of Governor Seyi Makinde for the state.

“The Smart City, when completed, is expected to become a hub for innovation and sustainability, which offers immense opportunities for investors. The project’s focus is on renewable energy, urban greenery, and eco-friendly design reinforces the commitment of the present administration in Oluyole Local Government and Oyo State to creating a sustainable future for our people.”

Commissioner for Trade and Investment in the state, Niyi Adebisi, promised that the state government would continue to create a conducive atmosphere for businesses to thrive in the state.

Managing Director and Chief Executive Officer of Tinath Realities, Mr. Kola Abimbola, described Blue Sapphire District SmartCity Project in Ibadan as another landmark housing project that would be a small London in Ibadan when completed.