As part of activities marking the second year anniversary of his administration, Nasarawa State governor, Engineer Abdullahi Sule, performed the ground breaking ceremony of the Peninsula Hills housing project, that will deliver 4000 homes in Karu Local Government Area.
Engineer Sule flagged off the construction of the housing estate estimated to cost N8bn, at an elaborate ceremony, in Karu, on Thursday.
According to the governor, the project which will see to the full development of 100 out of the 270 available hectares on the Peninsula Hills, followed the signing of a joint venture agreement with a private developer, the Affinity Realty, with the investor committing to spend an initial N8bn on the project.
Engineer Sule emphasized that, with the Nasarawa State government being a partner in the project, his administration is not spending money on the project, having already provided the land, which will also serve as a major shareholding equity.
An obviously elated governor Sule said his administration decided to go for the full development of the Peninsula Hills, guided by the policy thrust enshrined in the Nasarawa Economic Development Strategy (NEDS), stressing that when fully completed, the project aside boosting the internal revenue generation of the state, will also create employment opportunities for members of the community.
The governor reassured those affected by the project, that government will allocate lands back to those with confirmed, authenticated claims to land ownership in the area.
Engineer Sule appreciated the Affinity Group, for their commitment to develop the land.
“The essence of the PPP is that Nasarawa State will not be spending the N8bn. We are partners, we have provided the land, infrastructure, which is also an equity,” he stated.
In his remarks, Chairman, Affinity Group, Mallam Mohammed Abubakar, said the PPP project was designed to provide sustainable living, stimulate the economy of the state, as well as contribute towards addressing the housing deficits in the country.
Mallam Abubakar described the Peninsula Hills project, as an integrated development consisting of about 4000 homes, recreational facilities, commercial area and schools, in the most conducive and serene environment, which will be affordable.
The Affinity Group chairman pointed out the company owes the project to the vision and clear commitment to provide investors the enabling environment to invest, stressing that there is no greater path to sustainable development than through the PPP.
He disclosed that, under the initiative, his company is committed to spending an initial N8bn, with an anticipated revenue of N46bn.
Mallam Abubakar emphasized that, they are in the state to add value to Nasarawa State.
Earlier, in his welcome address, Director General, Nasarawa Geographic Information Services (NAGIS), Mr Sonny Agassi, recalled that the Peninsula Hills project commenced 28 years ago, in 1993, on a 270 hectares of land.
He explained that, the project was in line with the vision of the Engineer Sule administration, in partnering with the private sector to provide liveable, sustainable housing for the citizens of the state, in line with global best practices.
Mr Agassi said, the ground breaking ceremony, is coming on the hills of the MoU signed with the Affinity Group earlier in March this year.