If the information coming from the management of the 1004 Estates Ltd is anything to go by, new owners of the revamped Federal Government Civil Servant quarters may now finally have their units within the estate allocated to them.
The management of the estate in a recent public notice announced that it had started the allocation of units in the low-rise buildings to subscribers, putting an end to years of speculation. however, to real estate pundits, the final allocation of units may bring about a new price and investment regime within and outside the estate.
Efforts at bringing back to life the lost pride of the renowned 1004 Estate in Victoria Island dates back to 2006 when the whole estate was leased by the Olusegun Obasanjo administration to a formidable team of investors led by UACN Property Development Company (UPDC) Plc. After a series of biddings, the bid that eventually sealed the deal was valued at N7 Billion.
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This is great news. Federal Government saved there pride.
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