LandWey Investment Limited, Nigeria’s leading real estate investment company, last Wednesday signed a N20 billion commercial paper approved by the FMDQ Securities Exchange Limited (FMDQ Exchange).
The official signing ceremony, which took place last Wednesday, at the company’s headquarters in Lagos, was witnessed by company executives and professional partners including Pathway Advisors Limited, STL Trustees Limited, Mega Capital Financial Services Limited, Keystone Bank, Meristem Trustees, FBNQuest, UTL Trustees Management Services Limited, Julius Inofe & Co, The New Practice, and Plethora Advisory Limited, according to a statement.
It said the N20 billion CP will enable LandWey to accelerate the development of its ongoing and future projects, create job opportunities, and contribute to Nigeria’s economic growth.
The CP issuance follows the company’s plans to develop the 50-100-megawatt Isimi Lagos Solar Farm, a renewable energy project aimed at powering over 70,000 homes and businesses in Lagos, while promoting sustainable development and reducing the carbon footprint in Nigeria.
Olawale Ayilara, group chief executive officer at LandWey, said in his opening remarks that the CP would be oversubscribed, given the company’s pedigree and that the programme will enable it to move to the next level.
“This successful signing is a significant milestone for LandWey and a show of our determination to achieve sustainable growth. It shows a clear demonstration of the strength and acceptance of the brand, and the trust placed by investors in the company’s leadership, corporate strategy, and innovative solutions,” he said.
Shola Bello, managing director at LandWey, said that being able to go to the market was important for the company’s expansion plans. “We are known for innovation because we have projects that impact the environment in positive ways and develop eco-friendly cities, which ensure that our projects are sustainable. That is why we are confident about the future.”
According to the statement, LandWey has built a reputation for delivering quality and innovative real estate solutions to Nigerians over the years, as evidenced by its issuance of the ISO 9001:2015 certificate for commitment to standard procedures and quality management.
Adekunle Alade, managing director at Pathway Advisors Limited, said his firm was pleased for the opportunity to be part of LandWey.
He said: “We have been part of a number of real estate companies that have raised money in the capital market recently, and were very proud to be part of Landwey today. Very few companies maintain the standards that LandWey maintains, and were very interested in sustaining developments in terms of real estate projects.
“You will notice that LandWey projects come with a lot of greenery and a lot of trees, which are very critical to the future. A lot of people develop real estate without being mindful of the input on the environment.”
Emmanuel Egbumokei, managing director at MegaCapital, said very few companies maintain standards critical for the future of sustainability, adding that LandWey has taken a huge step towards the expansion and growth of its sustainability goals.