The project is being executed through a Special Purpose Vehicle, Masta Rivers Development Company Limited, with 70 percent equity from Masta Services and 30 percent from the Greater Port Harcourt City Development Authority (GPCDA) on behalf of the state. The official unveiling, held at Hotel Presidential in Port Harcourt, also formalised a partnership with the Federal Mortgage Bank of Nigeria (FMBN) to support prospective homeowners with accessible mortgage plans.
PH AirportCity sits within the vast Greater Port Harcourt Masterplan covering about 1900 square kilometres across eight local government areas and designed to grow into a modern urban cluster with a population projection of over two million residents. According to Ade Adeoshun, brand consultant on the project, the mini city will occupy 80 hectares, with verified land titles already prepared for investors.
He described the unveiling as a new dawn for Rivers State, noting that Port Harcourt’s vast economic potential, especially in oil and gas, has remained under maximised due to years of insecurity, infrastructural neglect, and urban flight.
Presenting the masterplan, Arc. Ugo Ohuabunwa, Managing Director of Masta Services and Managing Partner of the SPV, said PH AirportCity was conceived to reverse the trend of high value individuals relocating from the state. He explained that many top level executives fled not just because of insecurity, but because the city lacked world class, secure residential environments that match their lifestyle and productivity needs. He stressed that Port Harcourt remains one of Africa’s most strategically connected cities, with access routes linking Aba, Uyo, Owerri, Onitsha, and Yenagoa in under two hours, and therefore deserves an urban infrastructure that reflects its economic importance.
Ohuabunwa revealed that the development will serve as Nigeria’s first true aerotropolis, a modern urban model in which an international airport functions as the economic hub of a city, surrounded by interconnected residential, commercial, logistics, entertainment, and smart technology districts. Planned features include one to five bedroom smart homes, centralised electronic security and CCTV coverage, malls, entertainment centres, fibre optic connectivity, gas to power systems, central sewage and stormwater management, extensive road networks, and four fire stations. He noted that prices will start from about ₦32 million, with mortgage support from FMBN and Stanbic IBTC making luxury living more accessible. He also disclosed that buyers’ funds will not be relied upon to build, a model he said is still rare in Nigeria’s housing sector.
Melody Ukwa, Port Harcourt Branch Manager of the Federal Mortgage Bank of Nigeria, confirmed that subscribers will have access to various flexible housing products including Rent to Own, renovation loans, diaspora mortgage packages, and the National Housing Fund, with tenures of up to 30 years. Bennett Chu, Administrator of the GPCDA, added that the state government thoroughly vetted every development component and insisted on global best practice standards because of its determination to deliver mass housing without compromising quality.
As construction begins, PH AirportCity is being positioned as a lifestyle destination that blends safety, elegance, technology, and convenience, a bold attempt to rewrite the story of Port Harcourt and restore investor confidence. With its strategic location and integrated infrastructure blueprint, the mini city is expected to reshape urban living in Rivers State, while the first sets of housing units are scheduled to be delivered in phases soon.
