Sanwo-Olu commissions 442 new housing units in Surulere, Iponri

By Adeola Ogunrinde

Lagos State Governor Babajide Sanwo-Olu on Monday commissioned two major housing developments in Surulere and Iponri, adding 442 new homes to the state’s real estate stock under the “Greater Lagos” initiative. The projects were delivered through a joint venture by the Lagos Building Investment Company (LBIC) and private sector partners.

At Obele-Oniwala in the Lawanson area of Surulere, a former dumpsite was transformed into a residential complex comprising 21 blocks of 378 apartments. The development, built on 3.7 hectares, features one-, two-, and three-bedroom flats. The governor also unveiled a 64-unit four-bedroom maisonette project at Olaleye New Town Estate, Iponri.

The two housing projects were constructed by LBIC in collaboration with Megamound Investment Limited and Crown Exquisite Homes and Property Limited. Sanwo-Olu described the projects as part of his administration’s vision to regenerate urban communities and provide modern, affordable homes for Lagosians.

“These developments are more than just buildings; they are symbols of regeneration, economic opportunity, and environmental responsibility,” the governor said. “We incorporated green spaces and sustainable practices to ensure these homes are future-ready.”

Sanwo-Olu emphasized that the housing developments reflect the broader “Greater Lagos” housing plan focused on inclusivity and affordability. He added that similar projects were underway in other parts of the state, promising that no community would be left behind in the state’s housing drive.

“We are unlocking new opportunities and fresh starts for our people. I call on more private sector players to partner with us in bridging the housing deficit,” the governor stated, highlighting job creation and local business empowerment as benefits of the housing projects.

Lagos State Commissioner for Housing, Hon. Maruf Akindeju-Fatai, praised the use of eco-friendly materials and emphasized the administration’s commitment to decent living environments. He commended the governor’s consistent investment in the housing sector.

Managing Director of LBIC, Mr. Olusola Faleye, said the completion of the two estates marked a new era of hope and opportunity for the beneficiary families. He reaffirmed LBIC’s dedication to delivering more housing solutions in partnership with the state government.