Lagos Low-cost Estates for Renewal

low-cost estates
  • Lagos Low-cost Estates for Renewal

The Lagos Building Investment Company Plc has announced the commencement of the renewal of all its estates across the state.

The company said this would enhance economic value of the estates and make them safer for residents.

It said it had in a public notice called on the general public and residents to cooperate with the company and the Lagos State Government in ensuring that illegal structures in the estates were destroyed.

According to the company, various stakeholders’ meetings have been held and notices served on illegal structure owners within the low-cost estates prior to the commencement of the renewal exercise.

“We hereby confirm that a clean-up exercise has started within our estates with the view of ensuring that our estates are maintained in line with the master plans and the amenities are upgraded, while enhancing return on investment through sustainable property management system,” the company said in a statement.

It added that it was also upgrading its operations, culture and brand to ensure a vibrant workforce.

The statement read in part, “The LBIC is presently upgrading its banking application software to ensure seamless processing and real time online services that will enrich customers’ experience.

“ We have also embarked on a major restoration and renewal exercise of existing estates to ensure that they meet best standards and that they are dignifying environments for residents and their families to live in while remaining viable investment assets.

“There will be long-term strategies implemented to ensure that these estates do not fall to an unacceptable level of disrepute and investors will be pleased with the return on their investments in the long-term.”

About the Author

Samed Olukoya
Samed Olukoya is the CEO/Founder of investorsking.com, a digital business media, with over 10 years' experience as a foreign exchange research analyst and trader. A graduate of University of East London, U.K. and a vivid financial markets analyst.

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