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THE chairman of Odu’a Investment Company Limited, Chief Sharafadeen Alli, has restated the commitment of the management of the conglomerate to keep alive the vision of its founding fathers.
Chief Alli disclosed this on Friday at the commissioning of Almond Court, a newly redeveloped property of Odu’a Group, in Ibadan, Oyo State capital.
The chairman said that through the Property Redevelopment Programme (PRP) adop-ted by the management, all the properties of the conglomerate which have become obsolete and non-economically viable in the present day reality would be rejuvenated.
The chairman said: “It is on record that Odu’a has achieved great feat in this direction as the pilot scheme of the property redevelopment programme took place in Lagos with the redeve-lopment of a four bed-room detached house in Luggard Avenue, Ikoyi, into a six unit of three bedroom luxury flats tagged Odu’a House and the Orange Court in Iyaganku GRA in Ibadan’’.
“Odu’a is proud to show its distinctiveness in real estate develop-ment with the construc-tion of the Almond Court which has become the toast of everyone. It is interesting to note that the entire building is now fully occupied which gives credence to the concept of this PRP project.”
Group Managing Director/Chief Executive Officer, Odu’a Group, Mr Adebayo Jimoh, said five other properties of Odu’a Group in Ibadan and several others in the South-West states were undergoing redevelop-ment to make them economically viable.
Mr Jimoh also noted that about 200 students trained by Odu’a under its skills acquisition programme in Ekiti would be graduating by next month, while saying further that “as part of our property redevelopment programme, the old Sketch building in the central business district in Ibadan is also being re-developed into an international standard shopping mall to be known as Herritage Mall.”
Almond Court is a 10-unit of 4-bedroom duplex built on a 5,300 square meter land at Quarter 1013, Agodi GRA, Ibadan, that hitherto contained a three-bedroom bungalow with boys’ quarter. The estate was estimated at a cost of over N200million and solely financed by Odu’a.
It will be recalled that Group Managing Director of Odu’a Investment, Mr Adebayo Jimoh, had listed real estate development as one of the cardinal investment portfolio from which the conglomerate hopes to earn more income, based on its potentials. The Almond Court is a follow-up to the Odu’a Shopping Mall nearing completion in Ibadan.