Festac Town

Description

Lands for sale in Festac Town.

No items listed yet.

About Festac Town

Festac Town is a federal housing estate located along the Lagos-Badagry Expressway in Lagos StateNigeria. Its name is derived from the acronym FESTAC, which stands for Second World African Festival of Arts and Culture that was held there in 1977. It is also important to know that Festac is under Amuwo-Odofin local government area in Lagos.

Festac town, originally referred to as "Festival Town" or "Festac Village", is a residential estate designed to house the participants of the Second World Festival of Black Arts and Culture of 1977 (Festac77). Consisting of 5,000 contemporary dwelling units and seven major avenues, the town was designed in an efficient grid in order to accommodate upwards of 45,000 visitors as well as any Nigerian employees and officers working at the Festival. The Nigerian government invested substantial sums of money and resources into building Festac Town, which sported state of the art electrical generators, police and fire stations, access to public transportation, supermarkets, banks, health centres, public restrooms, and postal services. The village was therefore intended to evoke the modern age and the promise of state-sponsored economic development fuelled by oil revenues.

After the Festival, the Federal Government of Nigeria allocated the housing and landed properties to eventual winners who participated in a ballot. Initial regulations forbade such winners from renting and disposing-of the properties to third parties. The first festival was held in 1966 at DakarSenegal.

Once a sleepy estate, FESTAC Town has in the past few years attracted varied forms of businesses within the estate and its environs. Today, there is a growing number of commercial banks, and shopping complexes that cater to the residents. There are also several hotels and hangout spots within the estate which have contributed to the vibrant night life. This makes it attractive for real estate investments.

Courtesy of Wikipedia