Super User

Learning from its experience in the Festac 77 Housing estate, which was directly constructed and administered through the Federal Housing Authority, the Federal Government decided to invite bid from the Private sector to develop the Festac phase II project and thereafter manage the estate on a build, operate and transfer (BOT) concession.

The federal Housing Authority in 2006 invited tenders from the private sector developers. The bidding advertisement require the clearing of land, sand filing, site  demarcation of the estate. It also required the construction of mechanical sewerage water and electrical infrastructures after which the plots will be sold to prospective house owners on site an service basis. The idea has been upgraded to the development of a modern city based on the global village concept.

New Festac Property Development Company Limited won the bid as the preferred Concessionaire in 2006 and had put in a lot of effort in getting the project off the ground.

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A MAJOR landmark in the nation’s housing and urban development sector has begun following the successful joint agreement signing and project site tour of the major partners for the development of Imperial city on the 1126 hectares of swampy land in Festac.

The Federal Govern­ment may have kept its promise to return Festac Town to its glorious past following the conces­sioning of the proposed Festac Phase 2 to New Fes­tac Property Development Company Limited. The company has since appoint­ed a consortium of market­ing agents for the scheme.