The government of Benue State has on Friday entered a partnership with Cosgrove Investment Limited to develop 36 units of smart homes in Abuja.
The Benue Investment and Property Company (BIPC) Limited represented the government of Benue for the development of 36 units super smart homes that would consist of 10 units of five-bedroom detached duplexes and 26 units of four-bedroom terrace duplexes.
The estate, which groundbreaking ceremony was performed by the Executive Governor of Benue State, Dr Samuel Ortom at the construction site of the estate in Mabushi, Federal Capital Territory, on Friday has a project completion timeline of 18 months.
Speaking at the ceremony, the Governor, who was represented by the Deputy Governor, Mr Benson Abounu said the groundbreaking ceremony was important not only to Benue State Government, but also to the economic development of the country.
He explained that the initiative promised to haul in greater revenue to the state.
“Recently, the BIPC Board made a fresh presentation to the Executive Council that they have found a reliable investor who desires to collaborate with Benue State government in order to actualise the dream.
“The Benue State Executive Council carefully examined and scrutinized Cosgrove via a behind the scene investigation to find out the viability or otherwise of Cosgrove as a competent investor, and we came to the realization that Cosgrove Investment Limited is a very reliable investment company.”.”As a result of that, the Benue State Executive Council unanimously passed a resolution to collaborate with Cosgrove for the development of the land,” Ortom said.
He said the government has considered and approved the designs and that construction will start immediately.
“I like to express the gratitude of Benue State Government to Cosgrove Investment Limited.
“The government of Benue State will do everything possible to support the company.
“We are confident that you will introduce the most recent technology,” the governor added.
The Chairman of Cosgrove, Mr Umar Abdullahi described the ceremony as a remarkable public private partnership.While saying that Cosgrove was focused on pioneering the integration of technology and automation in real estate development in Nigeria.
Abdullahi assured that it resolved to be the investment partner of choice for institutional investors like BIPC to accomplish set goals.
He added that, the Public Private Partnership was the quintessential vehicle that captures the Benue State government’s goal through the BIPC to drive economic development in the state by promoting, managing and investing in projects which maximise stakeholders’ value.
He said the estate, which will sit on 1.29hectares in Mabushi District of the FCT consist of 36 state-of-the-art smart luxury homes, adding that every real estate investor knows that location is key to the value of every asset.
“With its proximity to strategic locations within and around the FCT – the airport, major shopping malls, recreational centres, just to list a few,” he added.
Discussing some features which home owners will enjoy in the estate, he listed Fibre to the Home supported by full fibre optic cabling, and Automatic Number Plate Recognition at the gate adding that “Cosgrove is the first company to offer this in Nigeria,” he said.
Abdullahi, was represented by the Chief Technical Officer, Cosgrove, Mr Baba Kalli.
Chairman of the occasion, Dr Gabriel Suswam commended the collaboration between Cosgrove and BIPC saying that it is in line with global best practices in the real estate investment sector.
“All over the world, governments are collaborating with competent private sector operators who have the technical and financial competence to deliver great initiatives for development.”
“The BIPC Management and its Board should be commended for deeming it necessary to engage a competent investor in Cosgrove.