Council Boss Grants Tax Waiver On Real Estate Investment

From Ekaete Ikubor

PORT HARCOURT

The chairman of Emohua Local Government Council in Rivers State has promised to grant tax waivers to real estate companies willing to site their estate in any part of the council.

Mr Chidi Lloyd stated that his administration was open to partner real estate companies willing to invest in the area, as the council was strategically located and blessed with dry land.

Lloyd said this at the unveiling of the operational office of Everyday Real Estate Limited at Emohua, the headquarters of Emohua Local Government Council.

He described the presence of the company in the council area as a timely development and was happy that the first real estate development in the area was happening during his tenure.

Representatives of the company, Mr Charles Nathaniel and MrUkechi Dibia in their separate remarks, commended Lloyd for his laudable achievements in the council within a few months of his administration and urged the people of the area to mobilisesupport for the council chairman to accomplish his vision.

Dibia, one of the facilitators of the project, said the company had secured its first site in the council, precisely between Elibrada and Oduoha communities along the East-West road and would be commencing construction work soon.

Nathaniel, a director in the company, said after comprehensive and empirical research on where to site their estate, they found out that the developmental potential in the real estate business in Emohua council was untapped.

He said the company’s presence in Emohua would create direct employment for about 850 persons, following the company’s plan for N19 billion investment in real estate development in the area.

“The company discovered that the area has 90 per cent of its land on stable land, 85 per cent of the land in the area is what property developers refer to as “Buy and Build”, 80 per cent of the land in the area are inter-neighboured and approximately proximal, with 55 per cent of the land on the East-West road, with a friendly atmosphere and ecosystem that surrounds the environs, which the company couldn’t overlook,” he said.

Nathaniel said the company’s first estate in Emohua was called “Sapphire Estate Phase II” and currently on sale along the Elibrada and Oduoha axis of the East-West Road at N980,000per plot.