Gabriel Enenche —
The Deputy Vice-Chancellor of University of Calabar, Prof. Michael Okom yesterday said the institute has entered into partnership with Kori-Aba Multi-Global Links and Estate Developers Nigeria Limited for the construction of 350 residential houses for its staff.
You may also like:
Cross River State Yet to Witness Serious Flooding — Director, Environment Ministry
While admitting that the collaboration was to cushion housing deficit among staff of the institution, he added that 10 hectares of land had been appropriated for that purpose at Ikot Uba community in Akpabuyo Local Government Area of Cross River.
”The proposed 350 residential houses will comprise 175 two-bedroom houses and 175 three-bedroom houses, Okom said.
Also read:
:Cross River State partners French consortium to convert waste to electricity
”The cost of one unit three bedroom is N13.5million, while a two-bedroom unit goes for N9.5million respectively. The repayment period is 5 years to 30 years, depending on the balance of the years of service of the interested confirmed staff,” he added.
Okom added that each beneficiary would be required to make a down payment of 10 per cent of the cost of the house.
”The developer has already arranged with specific banks to assist staff in providing equity, repayable over 18 months. Interested staff are required to obtain the expression of interest form at the office of the Head, Estate Unit, upon payment of N5,000.
”The form will be available for 21 working days, at the expiration of which it will be dispatched to the National Housing Fund and Federal Mortgage Bank for processing,” Okom noted.
