• Friday, March 01, 2024
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LandWey earns A2 short-term rating with stable outlook from DataPro

LandWey

LandWey Investment Limited, a leading real estate development company in Nigeria, has received an A2 short-term rating and long-term rating of “BBB” with a stable outlook for the year 2023 from DataPro.

According to DataPro, a leading national Credit Rating Agency in Nigeria, the rating assigned is “hinged on LandWey’s diversified revenue sources, good project experience, adequate working capital, adequate credit quality and strong brand presence in the Nigerian real estate market.

Other key distinguishing factors, according to DataPro include a stable, competent, experienced management team, adequate capacity for timely payment of financial commitments, deep relationships with key players in the market, and a consistent pipeline of projects.

The rating firm further added that “Landwey’s strategy is to create value for investors and clients by delivering innovative solutions, with the objective of positioning the Company as a dominant player in the Nigerian real estate market.”

LandWey has a strong track record and diverse real estate portfolio, with operations spanning the residential, commercial, and retail sectors of the Nigerian real estate industry. The real estate firm has successfully registered over 20 residential estates between the 2nd Toll Gate and Epe in Lagos. LandWey has over 279 hectares of land.

The company is dedicated to creating homes for both the low – and middle-income earners in Nigeria. As a result of its successful business model, the Company’s Net Asset Value grew exponentially by over 50% year on year, making it one of the largest real estate companies in Nigeria. Its target segments are residential real estate development, particularly in the affordable and middle-income segments; commercial and retail developments and mixed use developments

Some notable projects by LandWey include Urban Prime One, Urban Prime Two, Urban Prime Three (Phase II), Urban Prime Three (Annex), Urban Prime Four, The Apartment, Isimi Lagos, Hockley Lagos Millennial Town, The Milton, Coastal Town (Ibeju Lekki), Avalon Foreshore, District 1, Westwood Estate, etc.

LandWey is internationally recognized for its excellent practice, innovation, designs, and its customer-centric approach to providing quality service.

In 2022, the company bagged the IAS accredited DMSL ISO 9001:2015 certification in recognition of its commitment, attainment and compliance with the requirements of international standards for the provision of site, services and residential developments for sale. The certification followed a comprehensive audit and evaluation exercise conducted by the IAS accredited Management Systems Conformity Body (MSCB-152) – DMSL in August 2022.