The Rivers State Government is partnering with Masta Services Company Limited through the Greater Port Harcourt City Development Authority (GPCDA) for the construction of 2,000 houses in the state.

The project, PH-Airport City is a mini-city within the Garden City, located around the Port Harcourt International Airport (PHIA), Omagwa and will be developed in phases.

The Managing Director, Masta Services Ltd, Ugo Ohuabunwa, told journalists that the estate was aimed at attracting back topmost executives to the Garden City.

According to Ohuabunwa, the mini city is approximately 1,900 square kilometres (40,000 Hectares of land) and spans eight Local Government Areas, with a projected population of about two million people planned to be an extension of the old Port Harcourt City, while guaranteeing urban growth and gradual integration of both cities as one single unit.

Ohuabunwa, in his presentation, described Port Harcourt as a unique city in Africa, connecting to Aba (Abia State), Uyo (Akwa Ibom State), Owerri (Imo State), Onitsha (Anambra State), and Yenagoa (Bayelsa State) within a few hours.

He emphasised that Port Harcourt lacked world-class residential homes for the top-most executives, a situation he said the company planned to change.

He added: “We want to change that; we want to create a mini city in the main city for the highest class. This will free space for the middle class. The new city is deliberately located close to the Port Harcourt International Airport and will become the first aerotropolis, which is an urban area where the airport is the central economic driver, with infrastructure, land use, and economy structured around it.

“This concept expands beyond a typical airport city to include a wide range of connected developments, such as commercial, residential, logistics, and entertainment areas, all feeding off the airport’s global connectivity.”

He explained that the project, which sits on 80 hectares of land, guaranteed urban growth and the gradual integration of both cities as one single unit.

He further mentioned affordability as a key strategy for the project, saying that the minimum flat would go for about N32 million on completion.

To achieve the initiative, Ohuabunwa said the company got land directly from the government partner, loan opportunities for buyers from the Federal Mortgage Bank of Nigeria (FMBN), and further funding from the Stanbic IBTC Mortgage company.

Consultant, Brands & Marketing, Masta Services Ltd, said that the project was no easy breakthrough considering its hugely unlocked oil and gas concentrated potential of the Nigerian economy.

Also speaking, the Port Harcourt Branch Manager of FMBN, Melody Ukwa, said that the project included different types of mortgage offerings. Some of the categories include rent-to-ownership scheme, renovation scheme, construction loan, diaspora fund and national housing fund, among others.

According to him, the loans are repayable within 30 years. Administrator of the Greater Port Harcourt City Development Authority, Bennett Chu, told newsmen that the State Government was keen to provide massive housing opportunities.