Group Managing Director/CEO of Odua Investment Company, Mr Adewale Raji, has said the board and management is determined to transform the company and make it the engine room for economic development and competitiveness of western Nigeria.
Speaking at the foundation laying ceremony of the N4 billion medium density estate, Westlink Iconic Villa, which would be built on Odu’a company’s 3.8-hectare land opposite Nigeria Breweries at Alakia, Ibadan, Mr Raji stated that the foundation laying of the 124 households residential estate is in line with the vision of the board and management of the company to live the mandate of our shareholders .
“We will diligently execute our renewed mandate to be the engine room for economic development and competitiveness of western Nigeria. So, the foundation laying ceremony of Westlink Iconic villa is a testimony of the vision which the company has taken on a larger dimension to quicken the realisation of noble of unlocking value from inherited passive assets,” he said.
He stated further that the joint venture investment was another initiative to unlock value from the passive property portfolio of the group and that the new estate would bring on board a new dimension in structured and luxurious community living in the ancient city of Ibadan.
“Exactly two years, Odua investment had the opportunity of commissioning modest 7 Duplex ACE estate and we asserted that the estate was conceived and delivered as a flagship to announce Odu’s re-entry into property development based on consumer demand and insights. We pledged then that it is the beginning of brand building with all attributes that excites the customer to splash the cash and that the economics behind this thought and the courageous execution is to add quality investment into real estate portfolio that was bequeathed to us by our forebears “.
Chairman of the company’s board, Olusola Akinwunmi, stated that Odua investment considers the project as a modest contribution to the quality of residential development in the Ibadan axis that has industrial and commercial operations like Nigerian Breweries, Nigeria Bottling Company, Ibadan Airport among others.