Oba of Agbowa Ikosi
Chairman Revenue committe Ikosi/Ejinrin LCDA Agbowa
In a decisive move to address the acute shortage in Lagos metropolis in partnership with First World Communities Ltd, the Lagos State Government is developing high quality affordable housing under a unique Cooperative Home Ownership Scheme (CHOIS). The Lagos CHOIS LP is a public-private partnership between the Lagos State Government and First World Communities Ltd, incorporated for the specific purpose of developing 10,000 affordable housing units across the three senatorial districts in Lagos by 2016. The primary objective is to deliver housing for low and medium income households in sustainable communities, on a scale that is unprecedented in Nigeria. CHOIS offers a sustainable approach to housing provision through Shared Equity, Lease-to-Own and long term management of estates. Cooperatives would be used to aggregate housing demand, which facilitates more cost efficient developments and also promote community building. CHOIS includes a robust arrangement for managing the homes in the long term, using the lease-to-own model that has been successfully deployed across the world.
The Partnership is secured by a Partnership Agreement dated 31 July 2008 establishing the Limited Partnership and duly registered on 25 August 2009 as LPN 025 under the Partnership Law of Lagos State 2003, amended 2008.
Key Project Objectives
Some of our major projects are located in areas off the the Lekki-Epe Expressway, one of the core transportation hubs of Lagos, making it easy to travel within Lagos or the rest of Nigeria. Currently under development and situated in proximity, is the largest deep-sea port in West Africa, and an international airport which is at planning stage. These will serve as business advantages for property owners in these areas.