Pentagon Real Estate Hands Over Homes to NAMA Cooperative

Bennett Oghifo

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 its 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 has 100 plus houses already built, fully occupied out of the the 200 houses projected, while construction is  ongoing in the first phase.

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 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 Nestle staff  cooperative and other multinational entities  have indicated interest to  domicile their staff home ownership scheme through the NHF window at Mainland Park Regal.

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.

“By subscribing to buy into our Mainland Park estate, we will discuss their needs, profile and pre-qualify them to determine eligibility and our mortgage partner will do the processing, while we do the construction,” he said.

According to him, the company partners with sister real estate companies to develop bespoke housing to our valued clients all over the country where we are not fully on ground.