River Park Estate Issues CofO to Home Owners

Home owners of the high-brow River Park Estate, along Airport Road, Abuja received their Certificate of Occupancy (C of O) on Saturday. It is the first estate to do so in Abuja.

Underscoring the importance of the exercise, the Chairman, of River Park Estate, Paul Odili, said “House owners can start from taking the document to the bank as it is bankable. The money is not locked up in their property. This is a good investment decision. It makes Nigeria a good investment destination for foreigners and for individuals, It enables them to unlock the value in their homes. This will equally encourage foreign investors in mass housing and consequently stimulate the operations of Small and Medium Scale Enterprises (SMEs) in Nigeria.”

The C of O is a title document which is a legitimate proof of ownership of a property. It also spells out what the property can be used for. It can equally be used for many purposes including as collateral.

Odili praised the FCT minister, Mohammed Musa Bello for making it possible for River Park Estate to get the title document which it is issuing to house owners in the estate while urging him to do more for other mass housing projects in the FCT. “River Park Estate will be law-abiding and adhere to all the rules and regulations guiding estate development in Abuja. We are poised to close the housing deficiency in the country which the Federal Mortgage Bank of Nigeria put at 28 million. “Now with the C of O, foreign investors will be encouraged to get involved in mass housing because they know that, eventually, investors will come,” he added.

Blaming the worsening security situation in the country on youth unemployment, he urged the government to allocate more land to developers for them to create jobs for the youths.

Also speaking, the Vice Chairman, River Park Estate, Dr Adrian Ogun, said that the issuance of C of O to residents would help to “unlock the equity inside the property to do more business. “It means we are moving forward, and we’re making a contribution to bridging the housing deficit in the country.”

River Park Estate, uniquely located along Airport Road, is one of the foremost estates in Abuja. It has well-laid out streets and state-of-the-art buildings, a functional police station and 24-hour security. It also has an 18-hole golf course and a shopping complex among other modern facilities.