River Park Estate blazes trail, issues Certificate of Occupancy (C- of -O) to house owners

By Tunde Opalana

The chairman, River Park Estate, Mr. Paul Odili said the handing over of the Certificates of Occupancy (C- of O) to the first batch of five beneficiaries was an epoch-making event in estate development/management in Nigeria.

The elated chairman said the promoters of River Park Estate are happy to be the first out of about 100 real estates in Abuja to give C of O to landlords who own properties on the vast estate.

Issuance of the C- of O to River Park Estate landlords, he said will buoyed the confidence of other real estate developers in Abuja that the expectations will not be in vain.

The documents, he said is the full authentication of property ownership as the C- of- O could be put to various uses by the owners.

With the C- of- O, he said the owner can attract both local and foreign investment, use as collateral to obtain loan from banks, use as seed to kick- start small scale businesses. “He said the document is “bankable”.

Issuance of C-of- O by the FCT administration he added, will increase ease of doing business in real estate and unlock many problems in the housing sector.

The chairman added that this singular act by the Honourable Minister of the FCT, Mallam Bello Mohammed will help reduce housing deficit in the country.

The title documents were handed over to five owners during an expanded landlords meeting with the management at the estate on Saturday.

Mr. Odili said the C- of- Os have just been issued by the Federal Capital Development Agency (FCDA) and signed by the Minister of the Federal Capital Territory, Mallam Bello Mohammed.

He disclosed that the title documents will be signed in batches by the minister and will be handed over to owners.

“The importance of C- of -O cannot be overstated. It is a document issued to land owners and property buyers as legitimate proof of ownership. It also spells out what the land can be used for. It can equally be used for many purposes including as collateral.

“I am therefore grateful to the FCT Minister for making it possible for River Park Estate to get this very important document which it is issuing to house owners in the estate.

“River Park Estate will be law abiding and adhere to all the rules and regulations guiding estate development in Abuja. We are poised to close the housing deficiency in the country. Currently, River Park is expanding to Kabba District, along Kubwa Road, Abuja.

“River Park Estate uniquely located along Airport Road, is one of the foremost estates in Abuja. It has well-laid out streets and state-of the-art buildings, functional police station and 24-hour security. It also has an 18-hole golf course and a shopping complex among other modern facilities,” said Odili.

Vice Chairman, Dr Adrian Ogun
dwelled on the investment aspect of the ceremony.

He said with C of O owners are open to access foreign loans and investments because it will unlock equity.

“It will build the confidence of investment in real estate that C of O can be issued

“It will help bringing more funds into the housing sector and will help reduce housing deficit in the country,” he said