PMI GRANTS N1BN MORTGAGE LIFELINE FOR LAGOS DOCTORS

A primary mortgage institution (PMI), Union Homes Savings and Loans Plc, has granted a N1 billion lifeline as mortgage to enable medical doctors under the auspices of the Lagos State Medical Guild own decent houses in the proposed Medical Guild Estate, located at Wawa along the Lagos-Ibadan Expressway in Ogun State.

Chief Executive of Johnson Brothers International, Mr. Adams Kehinde, the project consultant, said his company, in collaboration with the Committee on Housing of the Guild, is in the process of fulfilling some of the conditions of the bank to be able to draw from the fund.

According to him, the N1 billion lifeline to the project is to be ready within 30 days, adding that First Bank Plc has also granted a bank guarantee for the Guild to the tune of N60 million for the first 60 subscribers to the estate. He further stated that the bank has issued a N20 million bank draft to the Ogun State government as payment to fast track the issuance of Certificate of Occupancy for the estate.

The Medical Guild Estate which is meant for medical doctors working in the Lagos State Public Service, will comprise of 264 units of three bedroom apartments and duplexes in addition to good road network, drainage, parking lots and gardens.

The project consultant averred that the construction of 10 mansionettes and 63 three-bedroom units in the estate will soon commence, adding that there are enough building materials on site to finish the project.

General Secretary of the Guild and Chairman of the housing project, Dr Tajudeen Salau, said that the project had already attracted 143 subscribers, while another 121 were expected to take up the units. 'We currently have 143 subscribers and though response has been fantastic, we need more subscribers to take up the remaining units,' he said.