Real estate firm partners Sam Zuga Business Empire on Port Harcourt Green city project
To address the housing shortage in Rivers State and neighboring states, a real estate firm, Port Harcourt Green Enclave Limited, has partnered with Sam Zuga Business Empire Limited to create Port Harcourt Green City, a $10 billion city.
To do this, the firm has revealed a Memorandum of Agreement that would make it easier for low- and high-income earners to acquire and own houses.
The project according to Journalists would include 6,000 residences, shopping malls, multiple agro-allied enterprises, a leisure district, and residential district on over 1,000 hectares of land in Omerelu, Ikwere council of the state.
“The proposed estate is targeted at alleviating the gap in the housing sector and also meeting the demands of the real estate in the state,” Perfect Nyenwezi Wekhe, Chairman, Port Harcourt Green Enclave, stated.
“We are determined to address the housing shortage in Rivers State and neighboring states since the initiative will help the South South and South East greatly,” he said.
“We’re mimicking what’s going on in Singapore and Dubai, and we’ve got partners in both places.” We’re investigating how we can produce the materials locally and use them to employ Nigerians.
“Our partners will offer their knowledge of experience and ensure that we employ locally available raw materials, such as our sand, which can be converted into glassware for high-rise buildings and used as blocks.”
Wekhe emphasized that no construction materials would be imported, and that everything would be made in the city.
He also implied that the initiative would deal with the city’s environment and perennial flooding issues.
“The city will be divided into five sections, including a residential district with high and low density zones,” he explained. The low-income earners are taken care of in the high-density neighborhood.
“In reality, we’re heading to the future of real estate, which is tokenisation, in which people with as little as N1 can own property in the estate.” It will make acquisition very simple for individuals in the real estate business.”
Prof. Sam Zuga, the leader of the Sam Zuga Ecosystem and Business Empire, also spoke, saying that collaborating with the estate firm would help them address environmental challenges, which is one of their main objectives.
Zuga, who was represented by Prof. Mkpa Mkpa, expressed optimism that the initiative will create jobs and ease the state’s housing shortage.
