Lagos State Governor, Babajide Sanwo-Olu, on Monday inaugurated two major housing developments — the Olaleye New Town Estate in Iponri and the Megamound Greater Lagos Apartments in Obele-Oniwala, Surulere — marking a significant milestone in the administration’s commitment to delivering affordable and sustainable urban living.
Describing the projects as a fulfilment of his administration’s vision for a “Greater Lagos,” Sanwo-Olu said they reflect the government’s dedication to inclusivity, modern infrastructure, and community development.
“The joy and peace that come with finally owning a house are beyond words. Providing decent housing is about dignity, security, and a brighter future for every Lagosian,” the governor said.
Details of the Projects
The Megamound Greater Lagos Apartments, situated on 3.7 hectares in Surulere, comprise 21 blocks of 1-bedroom, 2-bedroom, and 3-bedroom apartments, offering a total of 378 units. Developed under the Lagos Building Investment Company (LBIC), the estate is part of the state’s 2020 housing mission to meet the demands of its rapidly growing population.
Also inaugurated was the Olaleye New Town Estate in Iponri — a partnership between LBIC and Exquisite Homes Limited. Sitting on over 7,000 square metres, the estate consists of 64 four-bedroom maisonettes, each fitted with modern amenities and designed to offer a balance of luxury, comfort, and security.
Impact Beyond Housing
Sanwo-Olu highlighted the wider socio-economic benefits of the projects, noting that beyond providing shelter, they have stimulated job creation, supported local businesses, and boosted economic activity in surrounding communities.
“These projects have empowered local communities and contributed to our vibrant economy. We’ve also integrated green spaces and sustainability features to ensure they are future-ready,” he added.
He commended the architects, engineers, construction workers, and residents for their roles in the successful completion of the projects, and reaffirmed his administration’s commitment to the THEMES agenda — especially in the areas of housing, urban renewal, and inclusive growth.
Call for Partnership and Civic Responsibility
The governor encouraged residents of the new estates to foster a strong sense of community and urged the private sector to collaborate more with the state to expand housing access.
“Let us take care of these estates and set an example. Together, we can create not just houses, but true homes where every Lagosian can thrive,” Sanwo-Olu said.
The well-attended inauguration ceremony brought together key stakeholders in the housing sector and underscored the state government’s ongoing efforts to reduce the housing deficit and enhance quality of life across Lagos.