Real estate developers, Brains and Hammers, has inaugurated a 101-unit mixed housing development named, ‘Coopeast Beach Resort’.

A statement said the project, estimated to have cost N5.6bn, started in August 2019.

A breakdown of the housing units included: 70 terraces; a block of six flats comprising three-bedroom each; 14 fully detached houses, and eight semi-detached houses.The estate, which sits on a three-hectare land space (30,000 sqm), is also fitted with a gym, water treatment plant, six transformers, swimming pool, recreation area and a mini-mall.

The statement said, “The project, built in partnership with the Cooperative Societies of International Oil and Gas Companies, Shell, and ExxonMobil, had a 50 per cent buy-in of Shell Cooperative Society; 20 per cent buy-in of ExxonMobil Cooperative Society and 30 per cent buy-in from individuals. All apartments are sold out.”

At the inauguration and official handover of the keys to the cooperative societies, the Chief Operating Officer (West), Brains and Hammers Plus, Mr Omo Osobase, noted that the project was a testament to the three fundamental tenets of the company.

He said, “When we announced this first-of-its-kind real estate development partnership with the cooperative societies of Shell and ExxonMobil in the third quarter of 2019, we were very clear on the task ahead and the audacity of our ambition.

“This ambition was solidly rooted in our determination to deliver not just high quantity, but quality housing units built to the best global practice and at a price that would not break the bank despite the unique location.

“Despite the onslaught of COVID-19 and the very volatile economic situation in the country between 2020 and today, we have weathered the storm to deliver this project below the projected 24 months construction timeline.

“Today, we have commissioned units of three-bedroom flats, four-bedroom terrace duplex, four-bedroom semi-detached duplex, and five-bedroom detached duplex with BQ’s.”