United Bank for Africa (UBA) and the Ogun State Government have signed a Memorandum of Understanding (MoU) for the development of the Mitros City with earmarked land of 2,000 hectares at Isheri in Ifo Local Government.
Speaking in Abeokuta, Ogun State, the Special Adviser on Housing, Mr. Segun Abiodun, said the Mitros City would represent a unique and exciting development opportunity.
“The project site which is prone to flooding is expected to be stabilised at approximately 5-7m above sea level firstly by the proposed dredging and realignment of the Ogun River,” he said.
According to him, Mitros City would offer an ultimate urban experience which is the result of careful planning and understanding of the ingredients that make for rewarding urban life.
He, however, said “Mitros City is a well-defined central business district that will serve as a magnet drawing residents and visitors from a series of local centers that are all within walking distances of each other”.
According to him, “owing to the number of significant regional transport strategies, including the upgrading of the Lagos-Ibadan expressway, there will be a new toll road to Lagos international airport and a proposed LRT terminal within close proximity”.
He added that Mitros City will be well connected both locally and regionally.
“The interconnection of the urban centre and the commercial, residential districts and the road and rail systems that will link Mitros City to Ogun State and Lagos will make city a viable location to live and work,” he said.