In a continued effort to tackle the state’s housing deficit, the Lagos State Government has officially commissioned two new residential developments — the LBIC/Megamound Greater Lagos Apartments and the LBIC/Crown Exquisite Homes — as part of its broader agenda to deliver affordable and quality housing to residents.
Governor Babajide Sanwo-Olu, who led the inauguration ceremonies on Monday, described the projects as a significant step toward fulfilling his administration’s commitment to providing functional and accessible housing for all Lagosians.
The LBIC/Megamound Greater Lagos Apartments, located in Obele-Oniwala, features 378 units comprising one-, two-, and three-bedroom apartments. The LBIC/Crown Exquisite Homes, located in Olaleye New-Town, Iponri, Surulere, offers 64 units of four-bedroom maisonettes tailored for family living.
In a public statement shared via his official social media channels, Governor Sanwo-Olu stated:
“This development is designed to provide affordable and functional housing for Lagosians. These homes meet the needs of families and individuals seeking spacious and comfortable living spaces.”
He emphasized that both projects were realized through strategic public-private partnerships with Megamound Investment Limited and Crown Exquisite Homes & Property Limited, praising both firms for their professionalism and commitment to delivering high-quality housing solutions.
The Governor reiterated that addressing the housing shortfall remains a top priority of his administration, noting that additional housing schemes are currently underway.
“We’re not stopping here. LBIC has more projects on the way — all designed to be functional, affordable, and built to last. Let’s keep building together for a Greater Lagos, and for generations to come,” Sanwo-Olu affirmed.
The Governor concluded by reaffirming his administration’s resolve to close the housing gap “one step at a time,” noting that the successful delivery of the two projects demonstrates tangible progress in the state’s urban development and inclusive growth agenda.
The newly commissioned projects form part of the Lagos Building Investment Company (LBIC)’s broader mission to facilitate access to affordable homeownership and promote urban renewal across the state.
