One of Nigeria's leading building and morgage firms of international repute, CMB Building Maintenance & Investment Company Limited has rolled out plans to embark on the construction of medium low cost residential estate to ease accommodation congestion in Apapa GRA.
In line with its CSR campaign of ''house for all by the year 2020'' the foremost real estate development company is investing multimillions to boost its affordable portfolio of real estate development with the introduction of a residential housing estate in Apapa GRA.
According to sources, this CMB’s latest addition is strategically located in Apapa, which is the major port of the city of Lagos, Nigeria, and it's located to the west of Lagos Island, across Lagos Harbour. It accommodates three of the nation’s biggest seaports within its precinct. Set apart by its close proximity to the water, Apapa is divided into a commercial section and a residential neighbourhood, the serene Government Residential Area (GRA) where the estate will be located.
CMB’s development drive towards the Apapa axis is coming on the heels of the directive by the Senate to the Federal Ministry of Works and the Nigeria Ports Authority, NPA, to immediately begin the process of removing structures on rights of way (motor ways) and other locations impeding smooth traffic flow across the country.
The senate insisted that the Federal Ministry of Works and the Lagos State Government immediately resumes the rehabilitation of the roads leading to the nation’s main ports in the Apapa area, with a view to tackling the gridlock menace there. This obviously has given a necessary filing to the improvement of the Apapa situation as all through 2016 the gridlock has been a thing of the past. The journey to Apapa is suddenly free and easy. With this underway, confidence has been restored for new potential development, hence, the market appetite for housing in the Apapa axis.
The estate will comprise 2 blocks of 38 units of tastefully finished 3 bedroom apartments with a service quarter and 2 pent apartments. The estate will boast of facilities such as alternative power supply, portable water supply, adequate parking space, landscaped area, elevators, fire escapes, a serene environment and facility management services.
Unveiling the residential estate in Lagos last week, the Managing Director of CMB, Mr Kelechukwu Mbagwu, said the decision to spread its business to the Apapa corridor is largely based on the company’s drive to be a fore-runner in reducing the nation’s current housing deficit. He enjoins developers across the country to embrace this mandate of private sector participation