The Management of Odu’a Investments Limited on Tuesday laid the foundation of a 4,500 square metre residential estate in Ibadan, the Oyo State capital.
The multi-million naira property which is to be located at Jericho Road, Ibadan, will consist of seven duplexes, four of which will be made up of four bedroom and three five bedroom. It would also house other facilities including a swimming pool.
According to the Chairman, Board of Directors of the conglomerate, Chief Isaac Akintade, the project tagged ‘Project Ace,’ represents company’s latest exploit in its property development portfolio.
He said that the ultimate goal of the Board and Management of the company was to preserve, nurture and improve the economic heritage of the people.
The Group Managing Director (GMD), Mr Adewale Raji, who addressed newsmen after the turning of sod, 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.
He disclosed that the project, which is fully funded by the company, would be delivered in six months, to add to the company’s current assets which currently stands at N80 billion.
He added: “The element of creating a brand is crucial in what we are doing today. It is an example of an insignia of a specific attribute of what describes us. We are trying to redefine who we are. We want to be associated with quality, exquisite finishing and appreciating and giving lifestyle to the people. So, this is a flagship project.”