Society
Insiders Say Developer Was To Handover Collapsed Lagos Building To Owner In August
who has been in charge
Fresh information has emerged on the three-storey building that collapsed on Ibadan, Street Ebute Metta Lagos on Sunday, May 1, 2022.
SocietyNow.Ng gathered that the building was been handled by a “property developer” who has been in charge of it for the past ten years.
The arrangement with “developer” and “owners” is such that the developer builds and “manages” the property collecting rents and related fees for an agreed period to recoup his investment before handing it over to the owner.
“In this case what we were told is that the agreement between landlord and developer was to hand over the property in August 2022” SocietyNow.Ng gathered.
The three-storey building, however, collapsed three months before the handover month.
According to official sources, 10 persons have been confirmed dead while 24 persons have been rescued in the tragedy that has wrecked the life of tenants.
