Group plots $25m affordable housing in Badagry
To further bridge existing deficit in supply especially for African-Americans, a developer, Messrs Fatherland Global Corporation, has disclosed plan to build about 500 housing units in Lagos.
The project, known as ‘Fatherland Badagry creative city’, is a proposed residential estate located at Agonrin Sea Beach Badagry West Local Council of Lagos. The city will offer entertainment, education, tourism and luxury diaspora residential villas, where subscribers can live, work and play in extraordinary cutting-edge innovative, ecological, and sustainable green city.
With Dangote refinery set to reposition Nigeria on the global radar, the ancient city of Bagadry will present opportunity for Africans at home and in diaspora to invest in affordable housing and establish link with their root.
The project, a partnership between Fatherland Global Corporation, United States and Nigerian Capital Development Fund boasts of opportunity to purchase a state-of-the-art, exclusive one, two, three, or four bedrooms, off-plan villa or maisonette, overlooking the Atlantic Ocean-front.
The fatherland complex is expected to showcase the true African experience, unique culture and values thereby making it a global entertainment and tourist destination.
The developer revealed that high-tech project would offer sustainable, family orientated luxury community, which is set to rival the best complexes in the world.
Speaking on the project, the chairman, Fatherland Global Corporation, Mr. Harter Babatunde Oralusi, said: “The project is between the African and African descendants in diaspora. It started many years ago when Michael Jackson family came to Nigeria and were able to identify that they are from Badagry, taken as a slave from Badagry to United States.
It was proposed then to create a centre in Badagry for Africans in diaspora or African-American to know the their root. Later when Michael Jackson died, the project couldn’t see the light of the day. Now we want to bring it to life. “
Oralusi, who is also the Chairman, Nigerian Capital Development Fund (NCDF) Group Plc, said the project is designed for mixed family housing system, adding that it will be affordable and spring up multiple housing development in Badagry axis of Lagos.
He said: “African American just built 6,000 housing units in Ghana because the government promote initiatives that can encourage them to own houses in Ghana. The Badagry project is similar to that. They will be able to build more and this will create massive community development of the area. When they come to Badagry to live, they will think of investing there. “
The chairman said the project will create leeway for improves housing development in Badagry and Lagos as a whole; stressing that in the long-term the housing investment could reach about $3billion in the area.
“Fatherland Global Corporation is a public firm in the United States, having financial instrument in the capital market. And we are mobilising counterpart funding from Africa and Nigeria specifically. We have a venture capital company that is investing the project. One version of the project will be in Lagos and another in Atlanta and there will be a direct connection,” he said.
Oralusi, added that the project will commence this year, with contractors moving to site.
Get the latest news delivered straight to your inbox every day of the week. Stay informed with the Guardian’s leading coverage of Nigerian and world news, business, technology and sports.