Funding model: The Church buys the land, lays the pipes, Construct the Roads and parks, build the Health Center, Secondary School etc The Houses would be Constructed by the Construction Consortium with their own Money. Interested members pays the Church, Church holds the money and give to the Construction agencies as they deliver on the construction.
The new 8,000 hectares of land acquired by him to build his proposed Africa’s biggest housing estate in Ado-Odo/Ota local government area of Ogun State were from villagers.
The hectares of land were acquired from villages in Iyesi, Ijeba, Osuke, Faru, Olukowonjo, Idimu, Okomi, Ibeju, Lemomu, Atan, Igbesa, Lusada, Ewutagbe, Imuta, Batera, Tatowu, Ikogbo, Imoshe, Igbo-Ota and stretches to Lafenwa and Olugbodo.
Furthermore, our source also squealed that part of the reasons Oyedepo acquired some of the land from villages that link Lafenwa to Ayobo is to construct a highway that will be a four-lane express.
This, we learnt, will ease the heavy traffic they always encounter when coming to Canaanland to worship.
On Sunday, February 6, 2011, one of the representatives of Idimu village, Mr. Segun Oke, confirmed the land acquisition. “Yes, it is true that Bishop David Oyedepo acquired hectares of land from about 24 villages to build Canaan City. The lands are actually more than 8,000 hectares, because in some of the villages, he got more than a thousand hectares. Our own clan is Idimu and I can tell you categorically that he got the land at the rate of --- --- per acre. The family heads were Ikibawo and Ileshe. We were all paid with Intercontinental Bank cheques. I can tell you that he is also constructing a four-lane expressway that will link Canaanland to Ayobo, Lagos. As regards where the land owners have relocated, Ado-Ode/Ota has an expanse of land and the villagers still have spare lands around the village.”
Bishop David Oyedepo is currently building Africa’s biggest housing estate in Ota, Ogun State known as Canaan City.
The architect turned preacher of the Word acquired about 8,000 hectares of land for the project. The land has already been fenced. That alone cost tge church 1 billion naira, as its perimeter length is about 400km.
The houses are of six types and range from 3-bedroom flats of N4.9 million, duplex of N37.13m, semi-detached duplex of N24.2m, terrace house of N15.41m, high cost apartment of N24.62m, medium cost apartment of N8.22m to executive villas of N45.5 million. Other facilities inside the Canaan City would include a police station, banks, shopping centres, parks, swimming pools for each block and flats and villas, plus Covenant University Teaching Hospital. The record breaking 15,000 housing units will be handled by a Consortium of 10 Indigenous and Foreign Construction agencies.
The first set of units are already being completed.
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