Odu’a Opens N500m Project, Plans More in S’West

Malaysian Ringgits And Stock Boards Inside RHB Investment BankMalaysian ringgit banknotes are counted in an arranged photograph at the RHB Investment Bank Bhd. Photographer: Brent Lewin
  • Odu’a Opens N500m Project, Plans More in S’West

Odu’a Investment Company Limited on Tuesday inaugurated a N500m real estate project, which was completed in nine months.

The project, which is called Ace Estate, comprises of seven luxury duplex apartments with all the required facility, and is set on 440 square metres of land in the high end Jericho GRA in Ibadan.

At the event was the pioneer Chairman of the company, Basorun Kola Daisi, who commended the board for the initiative and tasked the members to venture into sustainable projects in agro allied and manufacturing sectors.

The Group Managing Director, Odu’a Investment Company, Adewale Raji, said that as part of the firm’s quest to expand its real estate business, the project would be replicated in other parts of the South-West

He said, “The project costs about N500m, which was sourced internally. We are convinced that it is the right thing to do and in the future, we will try to multiply our footprint. There will be two strategies to do that. We will fund some and, in some cases, we will go into joint ventures with other partners so that we can multiply this kind of development in other parts of the South-West.”

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

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