Gapstone Developers Ltd, a subsidiary of Cruxstone Development and Investment Limited, and Netconstruct Nigeria Ltd, a real-estate development Company have signed a unique joint venture agreement to build affordable homes but without compromise on quality.
The joint venture agreement is for the construction of a residential estate known as Palmvale Homes that will consist of 400 housing units on 77,000 square metres of prime land.
Palmvale Homes is located along the Lekki-Epe Expressway, and it's designed and built to have three-bedroom flats, three-bedroom terraces, four-bedroom detached houses, and maisonettes.
According to the Group MD of Cruxstone Group, Dr Adetoro Omotoye, "Each of these homes fuses comfort and functionality, delivering a unique 21st-century lifestyle for local families, diaspora buyers, and savvy investors.
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"The number of houses are already done. We are just taking it to the next level in terms of development."
He lauded their new partner, Netconstruct for their years of experience and large portfolio of projects, saying, "They have a lot of the huge database of clientele, so everybody is just bringing to the table years of experience, data, resources, expertise, a whole lot to make sure that we come out with a project and a product that is like number one."
Omotoye said their ongoing initiative would help close the huge housing gap in the country "through providing houses that are more reachable to people. We have been playing at the luxury end, but now we are dealing with houses that can be affordable. So that's why we said let's come into that space. Let's come up with something that could help take care of that gap to a large extent.
"It's also important that when playing in that space, it does not mean that we are scaling down on our quality. So for us, it's still being able to play in that space, yet being mindful of our quality is always major. Watchword for us is also bring affordable houses, yet quality houses, it takes a lot of value engineering, thinking through and we're working with people that can deliver effectively in that space. So we're very hopeful. We're very sure that we will deliver in that space effectively."
The Chief Executive of Netconstruct, Mr Afolabi Oseni said their company's headquarters is in Lagos and that they have good presence in Abuja "where we've delivered just under 4000 different houses, and the land in question here, which is called Palmvale is actually a parcel of land that we've owned for close to 20 years and we've actually started development, as Dr. Omotoye mentioned to you. But after seeing what they have done in the Victoria Island area, even their price brackets, it's actually quite attractive, though it's part of the 1% of 1% but honestly speaking, it's a very, attractive price. "And I also saw the commitment that they had, that they clearly demonstrated, towards the delivery of their units. I see a lot of passion in it."
Professionals at PEWAN Confab Discuss Cyclical Economy, Air Quality Management, Sustainable Housing, Others
Bennett Oghifo
Professionals at the 2025 edition of the Property & Environment Writers Association of Nigeria (PEWAN) Conference, took turns to present their concerns about challenges in the Lagos State environment, including housing, and gave their opinion on how these challenges could be resolved.
The theme of the PEWAN conference was "The Place of waste management in Relation to the Lagos State Government's THEME + Agenda" and "Air Quality Management in a Mega City like Lagos, Challenges and Policy Framework".
Managing Director, Lagos Waste Management Authority (LAWMA), Dr. Olumuyiwa Gbadegesin said Lagos has over the years improved on its waste management and that it intends to do more in the years ahead.
Lagos, he said, wants to increase waste recycling rate to 30% in the next five years, stating, "Our current recycling rate is between eight and 10 percent. And we are pushing to achieve 25 to 30 percent over the next five years."
He said modern waste management was no longer about disposal but was also central to economic value creation and environmental sustainability.
He said Lagos has a strategy to build a 21st-century materials economy that would shift waste from being a cost center to a value-generating sector, and that central to this plan was the "development of an integrated Transfer Loading Station (TLS) and Materials Recovery Facility (MRF) network, embedded with performance-based contracts to ensure throughput and waste diversion."
According to him, "A modern waste system is a materials economy: it converts a disposal cost into recoverable value, supporting MSMEs in collection, sorting, organics processing, and logistics.
"Africa's circular economy potential represents USD 7.6 billion annually in recoverable resources not currently collected, demonstrating significant economic opportunity. The State's concessionary pathway explicitly re-routes high-volume streams through TLS-MRF, creating predictable feedstock for recovery and a platform for private investment and green jobs.
"We are commissioning the TLS/MRF network to specification and embedding throughput and diversion covenants in operator contracts."
In his presentation on air quality management, the General Manager, (LASEPA), Dr. Babatunde Ajayi said the topic was critical to the health and well-being of Lagosians.
Ajayi said, "As the Head of the government Agency saddled with the responsibility of safeguarding and protecting the environment against any form of environmental degradation, pollution or other infractions, I must note that air pollution is one of the most pressing environmental challenges facing our dear State today and we must work together for improvement.
"The World Health Organization (WHO) estimates that air pollution is responsible for millions of premature deaths worldwide each year. In Lagos State, rapid urbanisation, industrialisation, and population growth have led to increased emissions from vehicles, generators, and industrial activities. This has resulted in poor air quality, which poses significant health risks to our citizens.
"You would recall that of the 6 - point Development Agenda of the Governor Babajide Olusola Sanwo -Olu administration, popularly called T.H.E.M.E.S plus agenda, Pillars 2&3 occupy significant place among other pillars. That is, Health and the Environment. This is not by accident, it underscores the Administration's commitment and preparedness for a lot of policy reforms from the beginning to improve on the environment, to fight pollution and maintain sustainable environment and quality public health."
He said, "The challenges we face in managing air quality in Lagos are multifaceted. These include: Vehicular emissions: Lagos has one of the highest numbers of vehicles in Africa, contributing significantly to air pollution.
Generator usage: The unreliable power supply in Nigeria leads to widespread use of generators, which emit harmful pollutants to the environment
Industrial activities: Our industrial sector contributes to air pollution through emissions from factories and other industrial processes. Most of our industries do not have Effluent / Air Treatment plants and few that have are either malfunctioning or no skilled workers to operate them. As a result , a large number of our industrial organisations discharge their raw Effluent into the environment or the water bodies, while they litter the environment with smoke from various manufacturing activities."
Ajayi said, "In order to address these challenges, the Lagos State Government, through the Lagos Environmental protection Agency LASEPA has continued to implement various reform policies of the State government geared towards achieving a pollution-free and sustainable environment.
"Regulatory measures: We have established emission standards for vehicles and industries
This is made possible through our collaboration with the Lagos State Ministry of Transportation,Vehicle Inspection service VIS and other regulatory agencies in the Transportation Sector
"Monitoring and enforcement:
We monitor air quality and enforce compliance with regulations especially among industrial facilities in the State. This is to ensure that they all abide by the standard procedures
"Public education: We educate the public on the importance of air quality management. We organize annual Effluent Treatment and Air Abatement Workshop for all industrial facilities in the State to teach them the operational procedures of their Effluent Treatment Plants and Air Abatement treatment plant operations
"Collaboration: We work with stakeholders, including government agencies like the Nigeria Environmental Standard and Regulations Monitoring Association, Manufacturers Association of Nigeria (MAN) industries, and civil society.
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"LASEPA also carries out a lot of advocacy programs to promote cleaner energy, sustainable transportation, and green infrastructure."
He said, "Managing air quality in a megacity like Lagos requires a multi-faceted approach. We must work together to address the challenges and implement effective policies to protect the health and well-being of our citizens."
Discussing 'Sustainability in Modern Housing and Urban Development', Dr. Adesina Aladeloba, Chief Lecturer/Dean, School of Environment Studies, Yaba College of Technology, who was the Guest Speaker, said there is a direct link between housing and waste management.
Aladeloba said, "Certainly, the Process of Waste Management would require the involvement of 'relevant' stakeholders - urban/rural dwellers from whom the wastes are generated, Governments whose responsibility is to ensure safe and hygienic environments, the contractors who are Private Sector Participants/Operators;expected to generate income from waste disposals - in the application and practice of Waste Management without which same will become all-comers affairs, that is, not regulated. "This definitely is a recipe for chaotic atmosphere, where no individual or organisation will be interested in pumping funds into such activity; knowing the possibility of realising any return on investment (ROI) is very slim."
He said, the "Cleaner Lagos Initiative" is a Lagos State Government's development agenda, aimed at actively promoting a cleaner and more sustainable environment through an improved waste collection and disposal process which promotes recycling and waste-to-wealth opportunities.
"One of the key concerns of the Waste Management in Lagos, is the state's growing population which is expected to drive demand for housing and in turn; inform an increase in the quantum of waste generated. In addition, the government's efforts to promote home ownership through various initiatives, such as the National Housing Fund is also expected to boost the generation of waste ironically. Hence, the need for proper Waste Management," he said.
The Chairman of the conference and a former Lagos Commissioner for Physical Planning and Urban Development, Toyin Ayinde stated the need for a change in the people's attitude toward resource utilisation and waste management.
He said, "The more value we create, the less waste we generate."
