FG Teams Up with Harmony Gardens on $285M Housing Project for Nigerians Abroad
The federal government has formed a $275 million alliance with Lagos-based company, Harmony Gardens & Estate Development Ltd., aimed at constructing 1,000 contemporary residences designed for middle-class Nigerians living abroad.
The initiative dubbed the Renewed Hope Estate will be located in the Lekki Aviation City, precisely across from the planned Lekki International Airport.
On Friday, during an interview with our representative, Mogaji Wole Arisekola, who serves as the chairman of Harmony Gardens, verified the billion-dollar investment through the collaboration between FGN and Harmony.
He disclosed that the initiative received financial support from the Federal Mortgage Bank of Nigeria, noting that this program is an integral component of President Bola Tinubu’s Renewed Hope Agenda. This agenda seeks to provide accessible, top-notch homes for Nigerians living overseas via a rent-to-own mortgage system featuring low-interest rates below ten percent over two decades.
"This isn’t merely another property development. This represents a comprehensive investment in the future of diaspora housing, bolstered by a strategic partnership with the Federal Government and supported by substantial funding," he stated.
Arisekola pointed out that the initiative represents a strategic move for integrating the diaspora population and boosting infrastructure development. He also mentioned that President Tinubu plans to officiate at the ceremonial ground-breaking on May 29, 2025.
He added, "The Renewed Hope Estate will feature contemporary facilities, lush green spaces, premium finishes, advanced security systems, and efficient drainage, establishing a new benchmark for housing projects in Lagos."
It will generate more than 5,000 direct and indirect job opportunities, greatly enhancing the construction and logistics industries.
Harmony Gardens continues to strengthen its position as a top-tier developer, managing seven distinguished properties: GranVille Estate, The Parliament, Majestic Bay, Harmony Casa, and their leading project, Lekki Aviation Town. These locations are collectively referred to as the Seven Citadels of Delight.
As the federal government works alongside developers and global experts to guarantee both prompt completion and superior standards, Harmony Gardens is reaffirming its position as a cornerstone of achievement within Nigeria’s property sector.
Provided by Syndigate Media Inc. ( Syndigate.info ).