Lagos State Governor Babajide Sanwo-Olu on Monday unveiled two major residential housing schemes in Surulere, reinforcing his administration’s drive to tackle the housing deficit and promote sustainable urban development.
The new estates, Olaleye New Town Estate in Iponri and Megamound Greater Lagos Apartments in Obele-Oniwala were launched at separate commissioning ceremonies attended by key government officials, real estate stakeholders, and community members.
Describing the housing projects as pivotal steps toward realizing his vision of an inclusive and modern Lagos, Governor Sanwo-Olu emphasized the importance of homeownership in enhancing the dignity and well-being of residents.
“Homeownership is not just about bricks and mortar it’s about dignity, safety, and the opportunity to build a secure future,” he said. “We are committed to delivering housing that reflects the aspirations of every Lagosian.”
The Megamound Greater Lagos Apartments, developed by the Lagos Building Investment Company (LBIC), spans 3.7 hectares and features 21 residential blocks offering a mix of one-bedroom, two-bedroom, and three-bedroom flats. In total, 378 housing units have been completed under this project.
Meanwhile, the Olaleye New Town Estate, a collaboration between LBIC and Exquisite Homes Ltd, sits on over 7,000 square meters of land and comprises 64 tastefully designed four-bedroom maisonettes. The estate is outfitted with modern conveniences and built with an emphasis on security, comfort, and aesthetics.
Beyond providing homes, the governor highlighted the broader socio-economic impact of the developments, noting that the projects had created employment and spurred economic activity during their construction phase.
“These estates do more than shelter people they energize our economy, create jobs, and foster a sense of community,” he said. “We’ve also embedded environmentally friendly designs to align with global sustainability trends.”
He credited the collaborative effort of builders, architects, and residents, and reaffirmed his commitment to the THEMES Plus Agenda, which prioritizes housing, infrastructure renewal, and equitable urban growth.
Governor Sanwo-Olu also called on new homeowners to embrace a spirit of shared responsibility.
“Let us protect and maintain these homes, not just for ourselves but for future generations. Together, we can transform housing developments into thriving neighborhoods,” he urged.
With these new estates, Lagos takes another step toward closing its housing gap, offering more residents the chance to live in secure, well-planned communities tailored to meet the demands of a modern city.
