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Pentagon Real Estate delivers houses to subscribers

By Chinedum Uwaegbulam
31 October 2022   |   3:48 am
A private developer, Messrs Pentagon Real Estate Investment Limited, has allocated exquisite designed houses to members of the Nigeria Airspace Management Agency (NAMA) staff cooperative in Mowe, Ogun State.

Mainland Park Regal project

A private developer, Messrs Pentagon Real Estate Investment Limited, has allocated exquisite designed houses to members of the Nigeria Airspace Management Agency (NAMA) staff cooperative in Mowe, Ogun State.

The estate known as Mainland Park Regal Estates sits on a landmass of over 60 hectares of land, covered by a global Certificate of Occupancy in favour of the company.

The houses were delivered to NAMA cooperative subscribers through the Federal Mortgage Bank of Nigeria (FMBN)’s National Housing Fund (NHF) programme, while Omooluabi Mortgage Bank Ltd, now Living Trust Mortgage Bank, facilitated the transactions.

The entire estate consists of 1,500 units and developed in eight phases, with each phase ready for occupation upon completion with all attendant facilities and infrastructure. The first Phase, which construction is ongoing has 100 plus houses already built, fully occupied out of the 200 houses projected .

Also, the house types comprises: two, three and four bedroom bungalows; four and five bedroom duplexes with boys quarters, while two and three bedroom maisonettes are planned in subsequent developments.

Among amenities provided in the Mainland Park Regal project are constant power supplies from a dedicated industrial line from the national grid, portable water with water treatment facilities and sewage treatment facilities.

Others facilities are: 15,000 square metre of open spaces for green and play area, well-lit streets with well-interlocked estate roads, car lots for each house, covered drains and walkways and 24-hour security (mobile police and civil security).

Speaking at the handover of the houses to the cooperative, Managing Director/Chief Executive Officer, Pentagon Real Estates, Rev. Kennedy Okoruwa, said the Mainland Park is a unique city that must be experienced.

“We are creating a distinct neighbourhood life that harbours superb residential, recreational, and commercial facilities, crowning these with amazing infrastructural tentacles to welcome a teeming population of visionary people that place a high premium on excellence and quality,” he said.

Okoruwa said it has been a journey, which came to reality, “I remember us coming here and we assuring you that we will help to facilitate access to the NHF. Today, it is a great joy that our dream led to the possibility of having sustainable home and the vision is being interpreted.

“God will always give us a nature, but it is the responsibility of man to create an environment out of nature. It is whatever we build that becomes a reality. We are particular about the building, as its meant to last a lifetime.”

The General Manager/Chief Operating Officer, Pentagon Real Estate Investment Limited, Ike Atuonwu, pledged to assist other NHF contributors and cooperatives to own houses in the estate.

He said staff cooperative of some multinational organisations such as Uniliver Plc and Nestle have already domiciled their residential housing scheme in Mainland Park Estate.

He said: “The agreement is always inline with NHF requirements. They provided the equity, while FMBN funded the balances, which will be repaid over certain number of years, not more than 30 years subject to their age of retirement,” he said.