The management of Odu’a Investment Company Limited has disclosed its plan to inaugurate the first phase of its property project, Westlink Iconic Villa, at Alakia, Ibadan in the coming year.
The project is being executed in collaboration with Chapter 4 Estate Company and Westlink Iconic Estates Limited.
The Group Managing Director of Odu’a Investment Company Limited, Mr Adewole Raji, during the media tour of the estate, said the company is committed to boosting the economy of the six shareholder states through investment in areas of comparative advantages.
While property development was projected to be viable in Lagos and Ibadan (Oyo State), the Chief Executive Officer of Odu’a stated that commercial and mechanised agriculture would be the best idea in the other four states of Ogun, Osun, Ondo and Ekiti.
Raji said the idea of the luxury estate being constructed in Ibadan was borne out of the high prospect that Ibadan, headquarters of South-West, offers.
He said, “We have a responsibility to partake in the lifting of the economy of each of the shareholder states. But we should not be taking emotional decisions. In the interland of the Yoruba region where land is accessible, building of houses is not attractive because people can get the land and build at their own pace. But areas where there is shortage of land is appealing for business.
“That is why Lagos and Ibadan would feature highly in terms of property development. Whereas you see Oyo and Lagos looking attractive in terms of investment into property, in other Odua states, we are looking at agriculture and processing because they have arable land and their climate is good.
“There is no competition between property development and farmlands in the South-West. We can do significant farming and processing in the abundant farmland which are threat to us today because of herders invasion. In those areas you can do significant commercial and mechanised agriculture and making sure you take the products into processing.
“It is on record that more than 50per cent of our agricultural output ends up being lost during post harvest. Between harvest and consumption, Al lot of agricultural products are lost. There are multiple things that can come from cassava, for example. The whiskey, gin and others come from ethanol which typically come as an imported product from sugarcane.”
The Director of Public Relations and Corporate Affairs, Chapter 4 Estate Management Limited, Mrs Reis Abiola, said, “Chapter 4 and Odu’a Investment Company Limited through their joint venture company, Westlink, a year ago, embarked on a 124 mixed-luxury residential households development to unlock value from this piece strategically located on 3.8hectares of land.
Since the turning of sod, work commenced immediately and has not stopped for a day. The beauty of it all is that at this stage of the project, sales of the near completion property has been encouraging.
The estate, which is being done in phases, comprise eight five bedroom fully detached duplexes; eight five bedroom semi detached duplexes; six four bedroom semi detached duplexes, and 40 four bedroom terraced duplexes. It also has 60 three bedroom apartments; 58 units of commercial outlets with utility centre that would provide 24hour electricity and centralised treated water.
