The News Agency of Nigeria (NAN) reports that the housing units when completed, is expected to be purchased by civil servants in the state through the Delta State Mortgage Bank.
Under the arrangement, the government is expected to provide land along the Illah-Ugbolu road, a suburb of Asaba, while Greenfield Assets Limited, is to finance the project.
The Secretary to the State Government, Mr Festus Agas, who signed the MoU on behalf of the government, disclosed that over 200 hectares of land had been acquired for the project.
Agas said although the agreement was for the construction of 10,000 housing units in the next five years, the developer was expected to deliver at least 1,000 units within the first one year of the agreement.
“These houses will be sold to Deltans through the Delta State Trust Mortgage Bank. The beautiful thing is that the developers source for the money and build while we buy from them.
The Chief Operating Officer of Greenfield Assets Ltd., Mr Ugo Umeseaka, assured that the houses would be built in decent environments with basic amenities, roads and drainage.
Umeseaka disclosed that different classes of residential buildings would be developed; assuring that there would be no preferential treatment in allocating the houses.
“It is like we are just planning and developing a new city within Asaba.
“We are going to build one-bedroom apartments, two-bedroom apartments and three-bedroom apartments, all in the mix.
“There will be no special areas; we are not going to segregate between the categories. In all the areas, you will have all the classes of buildings located.
“There will be play-grounds, we are going to make it an exciting place to live and it is going to be something that Deltans will be proud of.
“The good thing is that it will be affordable,’’ the property developer said.