•Assets hit N80 billion
ODU’A Investments Limited yesterday laid the foundation of a new property in Ibadan, the Oyo State capital, with assets hitting N80 billion.
The multi-million naira property is a residential estate that will sit on a 4,500 square metre land on the highbrow Jericho Road in the capital city.
The only derelict building sitting on the land will give way to seven duplexes -four of which will be made up of four bedroom and three five bedroom.
The estate will also feature a swimming pool along with other modern facilities.
Addressing stakeholders at the turning of sod yesterday, the Chairman, Board of Directors of the conglomerate, Chief Isaac Akintade, said the project tagged ‘Project Ace,’ explains the company’s new foray into property development portfolio.
He said the project is aimed at improving economic and quality of life in owner states across the Southwest.
Akintade added that the goal of the board and management of the company was to preserve, nurture and improve the economic heritage of the people. “We cannot but renew our resolve to ensure that the noble legacy bequeathed on us is kept alive and buoyant,” he said.
Addressing reporters after the programme, the firm’s Group Managing Director (GMD), Mr. Adewale Raji, explained that the project was another initiative that would enhance the company’s brand in the property sub-sector and other areas of the economy.
Saying that the company currents group assets stands at N80 billion, Raji said Project Ace was an addition that gives a direction to where the company is going in the nearest future.
He added that the project would be delivered in six months, adding that is funded by the company.
Odu’a plans to sell the duplexes on completion and manages it.