• Tuesday, July 23, 2024
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BusinessDay

UPDC scales up Ibadan market with 50-unit Olive Court

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Away from the major cities of Abuja, Lagos and Port Harcourt which harbor over 90 percent of its project portfolio, UACN Property Development Company (UPDC) Plc has entered the ancient city of Ibadan with a 50-unit upscale estate fondly called Olive Estate.

At the ground breaking ceremony in Ibadan recently to commence construction on the estate, the company assured that it was course to meet its target of providing choice residential apartments for the middle class in five major cities in the country by year end.

“It is our resolve to excite the property market by making a historic shift from our traditional Abuja, Lagos and Port Harcourt locations to other cities where our consideration is driven by demographics, market potential, availability of critical infrastructure, and urban renewal”, Hakeem Oguniran, the company’s managing director, assured.

Olive Court, which is a joint venture between UPDC and the Oyo State government, is tucked away in the serene Government Residential Area (GRA) of Agodi, Ibadan environment and will, on delivery, be the first of its kind in the ancient city.

Sitting on a large expanse of land, slightly over two hectares,  which was donated by the state government, the estate is expected to provide 50 units of luxury but affordable apartments for the state’s middle class. “Olive Court, on delivery, will be a haven for its residents, offering good quality life with its range of amenities”, Ogunniran said,

According to him, the court comprises nine units of five bedroom detached houses, 22 units of four bedroom semi-detached and 19 units of three bedroom terraces, adding that “as a prime estate, it will be delivered on sustainable structures and will maintain a good environmental friendliness.”

“Though the estimated completion period of the estate is 15 months, the first phase will be ready for homeowners by October this year”, he added.

Abiola Ajimobi, the state governor, in his remarks Olive Court which is the first of its kind in Oyo further buttresses our determination to provide housing for all.

Some of the amenities expected at the court on delivery include swimming pool, gymnasium, children’s playground, ample parking space for residents and visitors and standby generator. Others are fire alarm system, burglar system, water and sewage treatment plant etc.

ODINAKA MBONU