The Vice Chancellor of the Federal University, Otuoke, Prof. Mobolaji Aluko, announced a public private partnership on housing projects at a town hall meeting with staff of the Institution last Wednesday.
According to the VC, the intent is to promote home ownership for staff off-campus and on-campus with the collaborative efforts of the University and property developers.
Prof. Aluko posited that the University is taking advantage of the paradigm shift for home ownership urging members of staff to take advantage of the platform being created by the University.
The interactive meting had in attendance three Property Developers, Lager Stead, Juta and FGlobal Companies which the VC assured staff are credible Property Developers.
FUOTUOKE staff at the interactive session
Speaking on behalf of the three companies Mr. Richard Agbaje spoke on modalities of the partnership noting that they have plans to build 1,500 housing Units in Otuoke.
According to him, the companies are coming up with affordable housing, ranging from 3 bedroom Terrace Duplex, 4 bedroom Duplex, 3 bedroom semi-detached duplex, 2 bedroom semi-detached bungalow, 3 bedroom semi detached bungalow, 3 bedroom fully detached bungalow and 2 bedroom block of flat.
The essence of the scheme is to encourage staff to own properties off-campus, at affordable mortgage payments with a 15 year payment plan.
The Public Private Partnership on housing will be guided through the Federal University Otuoke Staff Multi-Purpose Cooperative Society Limited.
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