The Nation reports that the management of Odu’a Investments Limited yesterday inaugurated a N500 million residential estate in Ibadan, Oyo State capital.
This is the regional group’s first project for boosting real estate portfolios beyond the N7 billion mark.
The project, called Ace Estate, sits on a 4,400-square metre land at highbrow Jericho Government Reserved Area (GRA). It consists of seven detached duplexes and a recreation centre, with a swimming pool and gym centre.
At the inauguration, the pioneer chairman of the company’s Board of Directors, Chief Kola Daisi, described it as “an architectural masterpiece, quintessentially designed and tastefully finished as a manifestation of aesthetics, quality and luxury rolled into one”.
He hailed the company for being in “the vanguard of upholding the common heritage of the Yoruba nation and with a renewed mandate to be the engine room for the economic development and competitiveness of Western Nigeria”.
Daisi, who chaired the programme, said the project demonstrated Odu’a’s commitment to operate as a major player in the Real Estate sector.
The industrialist noted that it will enhance economic development and quality of life of residents.
He urged the company to include agro-allied and manufacturing in its diversification agenda for the improvement of the economy of Southwest.
The conglomerate’s Group Managing Director, Adewale Raji, said the project cost N500 million, sourced internally.
The company chief said the project was completed in nine months.
He said the estate heralded the company into property development, based on consumer demands and insight, adding that it is a means of redefining the conglomerate.
Raji said: “The contemporary designs, quality of finishing and timely delivery are a new benchmark in real estate development in Ibadan. Ace Estate was conceived and delivered as a flagship to announce Odu’a’s re-entry into property development, based on consumer demand and insight. The commendations that it has garnered from far and near are inspiring. It reinforces that our heritage and legacy are not a drawback to competitiveness and trendiness. They symbolise our core values of ‘creativity, passion and excellence’.
“It is the beginning of brand building with all the attributes that excite the consumer to splash the cash. We are trying to redefine who we are. We want to be associated with quality, exquisite finishing and satisfying lifestyle. The economics behind this thought and the courageous execution is to add quality investment into the real estate portfolio bequeathed to us by our forebears.”
The Chairman of the company’s Board of Directors, Chief Segun Ojo, hailed the vision of the board and management to reposition Odu’a through rebranding and raising investments in core business areas to transform the economy of the Southwest.
He said resuscitating some of the company’s derelict property was a major step to achieving its goals.
Source: The Nation