Odu’a Investment Company Limited is set to to embark on the construction of a N200 million estate project at the choice location of Iyaganku Government Reservation Area in Ibadan, the Oyo State capital.
The development christened, ‘Kings Court Estate’, project comprising four detached houses and eight semi_detached houses will be situated on a 5,300 Square metre land hitherto occupied by three-bedroom bungalow in the area.
At the foundation laying ceremony of the new estate, Group Managing Director of the conglomerate, Mr. Adebayo Jimoh, said that the project is in furtherance of the company’s plan to redevelop all its old properties in key locations across the South_west states.
Jimoh recalled that about two years ago, Odu’a Investment commissioned a N193 million estate tagged ‘Orange Court’, a luxury estate consisting of a six blocks of semi_detached houses built on a 5,500 square metres land with each having two apartments of a 4_bedroom making a total of 12 apartments.
He asserted that the Kings Court Estate project is to replicate the success achieved with the Orange Court luxury estate which replaced a demolished 2_bedroom bungalow with a three room boy’s quarters.
The Odu’a boss further described the move as part of efforts to grow the revenue base of the company as well as leave an enduring investment for incoming generations. He said that the board and management of the company took up the challenge by identifying some of the underutilized assets through its Property Redevelopment Programme (PRP).
The project is a joint development programme between Upper Bond Constructions Limited.