Cosgrove Investment Limited has announced a multi-billion naira smart estate development deal with the Benue Investment and Property Company Limited for the development of 36 units of super smart homes which it says will consist of 10 units of five-bedroom detached duplexes and 26 units of four-bedroom terrace duplexes.
The groundbreaking ceremony of the estate which was held on Thursday was performed by the governor of Benue State, Dr Samuel Ortom, in Mabushi, Federal Capital Territory, with the project set to be completed in 18 months.
According to a statement issued by the company on Friday, the governor represented by the deputy governor of the state, Benson Abounu, said the groundbreaking ceremony was ‘extremely important not only to Benue State government, but also to the economic development of Benue State and the country’.
He said, “Some people offered some amount of money, but we rejected it and decided to collaborate with Cosgrove for better returns.
“Recently, the BIPC Board made a fresh presentation to the executive council that they had 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 scrutinised 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 realisation that Cosgrove Investment Limited is a very reliable investment company.”
Chairman of Cosgrove, Mr Umar Abdullahi, represented by the Chief Technical Officer, Baba Kalli, said the estate would sit on 1.29 hectares of in the Mabushi District of the FCT.
He assured that the company would be the investment partner of choice for institutional investors like BIPC to accomplish set goals, adding that the public private partnership was the quintessential vehicle that captures the state’s goal to drive economic development in the state.
Abdullahi highlighted features of the estate to include proximity to strategic locations within and around the FCT such as the airport, major shopping malls and recreational centres.
He also disclosed that the company was the first in Nigeria to provide full fibre optic cabling and automatic number plate recognition as listed features for the estate.
Chairman of the occasion, Dr Gabriel Suswam, represented by Mr Tengo Tegba said, “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.”
He added that the BIPC management and the state government must be commended for deeming it necessary to engage a competent investor in Cosgrove.
The Chairman, Board of the BIPC, Mike Mku, described the collaboration between Cosgrove and BIPC as a key achievement of the Samuel Ortom-led government of Benue State.
He added that all the members of the BIPC board were present at the occasion in view of its strategic importance to the economic development of the state.