Odu’a Investment plans 54-housing unit estate to address deficits

Odu'a Investment Company Ltd.(OICL) has unveiled plans to complete a 54- housing unit estate in Lagos within the next 18 months. Chief Bimbo Ashiru, Chairman of OICL, disclosed this at the groundbreaking event for the Aurora Westlink Estate on Thursday. He said that the collaborative effort between OICL through its real estate subsidiary, Wemabod Ltd., and Aerofield Homes Ltd., was in a bid to addressing housing deficits. According to him, the effort also showcases a commitment to providing quality residential spaces. The News Agency of Nigeria (NAN) reports that the estate, situated on approximately 11,000 square meters of land, will consist of 54 units featuring terrace, penthouse, maisonette apartments, and separate room boys quarters. Ashiru said that the construction of the estate is funded by the six South-west states, being the shareholders of OICL, in partnership with OICL real estate subsidiary, Wemabod and Aerofield. The chairman explained that in line with Odu'a Group's strategic intent for r eal estate, it brought on board Wemabod Ltd., with its 62 years of expertise to be instrumental in the development of the Aurora Westlink Estate and its other real estate projects. He noted that the Odu'a group had been upgrading its business network and subsidiaries, particularly focusing on real estate assets to align with industry standards. Ashiru hinted that the group plans to develop not less than 1,000 homes within the next two to three years across the country, with numerous partnerships. 'We acknowledge the privilege of contributing to the growth and prosperity of our region and Nigeria, thanks to the legacy of the Odu'a Group. 'We have embarked on upgrades and optimisation of our existing assets with the Cocoa House, Aje House, Western House, Unity House, Awolowo Glass House, Lagos Airport Hotel, among others, with many other developmental efforts in the future. 'We invite you to invest in our real estate developments and explore opportunities across various sectors. Our commitment is to delive r sustainable returns and manage risks effectively. 'Despite challenges, we remain confident in our leadership and collaborative efforts,' he said. In his remark, Mr Adewale Raji, Group Managing Director, OICL, said the decision to construct Aurora Westlink Estate was driven by a thorough analysis of market dynamics and a clear vision for the future. Raji noted that the potential benefits of the strategic decision were significant, as OICL anticipated improved efficiency, enhanced market positioning and accelerated growth in the real estate sector. He assured Nigerians of OICL's full commitment to supporting the success of the new project and beyond. 'By aligning our real estate ventures with Wemabod Ltd., we are poised to unlock new opportunities, streamline operations, and maximise value for our stakeholders. 'With Wemabod's proven track record and expertise in the industry, we are confident in our ability to capitalise on emerging trends and collaborations with strategic partners such as Aerofield Ho mes and deliver exceptional value to our customers. 'Looking ahead, our expectations for the future of the real estate sector under Wemabob's leadership are high. 'We envision a future where Aurora Westlink Estate stands as a testament to our collective vision and commitment to excellence,' the managing director said. According to him, OICL is ready to provide the necessary resources, expertise, and guidance to ensure the fruition of the project with collaboration and synergy within the group. Also, Mr Yemi Ejidiran, Managing Director, Wemabod Ltd., said that the project had been meticulously planned to express the company's knack for quality luxury product offering. Ejidiran noted this was in a bid to continue the signature brand that Wemabod had become. Describing the Odu'a group's move as that of wisdom and foresight, Ejidiran said the project stood as a resounding testament to the group's commitment to excellence and strategic foresight. Commenting, Mr Armstrong Akintunde, Managing Director, Aerofi eld Homes Ltd., said appreciated the board, management and shareholders of OICL for considering to partner with Aerofield on the laudable project. Akintude stated that Aerofield team is highly professional, dedicated and committed to deliver the project as planned, noting that the large part of the job, which includes the design and construction of the foundation has already been done. Source: News Agency of Nigeria