UACN Property Development Company’s (UPDC) strategic thrust to extend its developments to other parts of Nigeria besides the traditional cities of Abuja, Lagos and Port Harcourt has left footprints in Asaba, the Delta State capital, with the development of the company’s Pineville Estate.
Pineville Estate is part of ‘A Tale of Five Cities’ launched early this year to announce the company’s ambitious entry into 2014 with six projects to be located in the upscale areas of Abuja, Lagos, Asaba, Calabar and Ibadan. The Tale marks a significant shift to other cities where consideration was based on demographics, market potential, availability of critical infrastructure, and urban renewal.
As the leading light in Nigerian residential real estate market, UPDC goes beyond building for profit to creating value and impacting on the economy of its host community and the reasons for the choice of Asaba is not far from this.
At the market presentation of Pineville in Asaba at the weekend, Hakeem Oguniran, the company’s managing director, explained that Asaba has been identified as one of the emerging real estate markets due to its current rapid growth and industrialization
According to him, estimated housing deficit in Asaba was 400,000 units, representing 2.5 percent of the country’s deficit, adding that the city enjoys relative security and public perception of safety was a boost for urbanization, and a demand driver for residential and commercial real estate.
“The high level of economic activities in neighboring Onitsha also has a positive impact on both the residential and commercial real estate markets, and there is increase in commercial activities leading to an increase in supply of commercial real estate”, he noted.
Sitting on approximately one hectare of land in Asaba GRA, Pineville Estate features a contemporary design which exudes grace and style, adding to the magnificence that is Asaba with a touch of exclusivity by offering only 20 housing units.
The 20 housing units comprise four units of five-bedroom detached houses; 16 units of four-bedroom semi-detached houses with a promise to deliver top of the range facilities including swimming pool; gymnasium, children’s playground, sewage treatment plant, borehole and water treatment plant, fire alarm system, burglar alarm system, PHCN and standby generator, ample parking space for residents and visitors.
Amos Utuama, the Delta State Deputy Governor who represented the governor, Emmanuel Uduaghan, commended the management of UPDC for the investment, describing it as a turning point for property development in the state.
“This event is a testimony of the commitment of this administration in attracting private sector investments into the state. This one, in particular, marks yet another milestone in the quest to improve the housing condition of our people. This is therefore, coming at the right time considering the rising demand for housing as a result of rising population of our urban centres, especially Asaba”, he said.
Chuka Uroko
