The Rivers State government, through the Greater Port Harcourt City Development Authority (GPHCDA), has partnered with Masta Services Company Limited to launch a new mini-city within the Garden City, to be known as PH-AirportCity.
Located near the Port Harcourt International Airport in Omagwa, the estate is part of an investment initiative to attract top executives who have relocated from the city in recent years due to security concerns.
LEADERSHIP reports that the PH-AirportCity project will begin with 2,000 housing units, to be implemented in phases. Ugo Ohuabunwa, a renowned professional builder with four decades of experience in design, construction, and engineering, is championing the scheme.
The development is driven by a Special Purpose Vehicle (SPV) — Masta-Rivers Development Company Limited — with 70 per cent ownership held by the private investor (Masta Services Company Ltd) and 30 per cent held by GPHCDA on behalf of the Rivers State Government.
The official unveiling, held at the Royal Hall of Hotel Presidential, in Port Harcourt, also featured the launch of Masta Services’ partnership with the Federal Mortgage Bank of Nigeria (FMBN).
According to Ade Adeoshun, Consultant (Brands & Marketing) for the project, PH-AirportCity occupies 80 hectares within the expansive Greater Port Harcourt City, a planned 1,900-square-kilometre development spanning eight local government areas with a projected population of two million people.
He described the initiative as a “great dawn for Rivers State,” noting that it represents a major breakthrough in unlocking the state’s economic potential, particularly in oil and gas.
In his presentation, the managing director and CEO of Masta Services — and managing partner of the Masta-Rivers Development Company, Ugo Ohuabunwa, — said the project arose from concerns about infrastructure decay in Port Harcourt.
He noted that while insecurity drove many executives away, the absence of world-class residential options also contributed.
“We want to change that. We are creating a mini-city within the city for top executives — a modern, secure, and smart environment,” he said.
“PH-AirportCity will be Nigeria’s first true aerotropolis — an urban development built around an airport as an economic hub, integrating residential, commercial, logistics, and entertainment spaces.”
Ohuabunwa emphasised affordability, stating that “luxury can be affordable.” He explained that the firm secured land directly from the state government, mortgage opportunities from FMBN, and additional funding from Stanbic IBTC Mortgage Company.
The project features a range of one- to five-bedroom smart homes equipped with e-security systems, CCTV surveillance, shopping malls, modern road networks, stormwater drainage, a central sewage system, gas supply, fibre optics, and four fire stations. Prices will start from N32 million, with buyers’ funds not required upfront for construction.
Also speaking, Melody Ukwa, FMBN Port Harcourt branch manager, said the bank offers several mortgage options — including Rent-to-Own, Renovation Loans, Individual Construction Loans, Diaspora Housing Funds, and the National Housing Fund Scheme, with tenures of up to 30 years.
In an interview, administrator of the Greater Port Harcourt City Development Authority, Bennett Chu, said the state government remains committed to providing massive housing opportunities.
He added that the Authority played both regulatory and partnership roles in the project, ensuring all proposals were properly vetted to guarantee value for investors and home buyers.
