N82b housing estate commissioned

The project is a joint venture vehicle between First Bank of Nigeria Limited and the Rivers state government.

Rainbow Town Estate N82b housing estate commissioned.

On completion, the 23.24 hectares of land will have upscale residential houses, ranging from terrace buildings, detached duplexes and high-rise condos.

It will also have a fire station, police post, security surveillance system, broadband Internet and a host of other facilities.

The project is a joint venture vehicle between First Bank of Nigeria Limited and the Rivers state government.

 Rainbow Town Development Company Limited (RTDL) is a special purpose vehicle setup by the partnering parties, First Bank of Nigeria Limited and the Rivers state government, to oversee, manage and hand over the estate.

Speaking during the commissioning ceremony, Bisi Onasanya, the Group Managing Director and CEO of First Bank, said  “First Bank will continue to support initiatives aimed at enhancing the quality of life for the populace, establishing income streams for thousands of people, create job opportunities and reinvigorate economic activities.”

The project will cost N82b, and it is solely financed by First Bank of Nigeria Limited.

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