By Kingsley Adegboye

Propertygate Development & Investment Plc, last week, celebrated the fifth anniversary of its successful foray into the property industry with a pledge to churn out products and services that will address the value and functional needs of its teeming customers.

The company stated that market inspired services based on research which it renders to the public has been a major driving force guiding its operations in the last five years.

Making the pledges at the company’s corporate headquarters in Lekki Peninsula, its Managing Director and Chief Executive Officer, Mr. Adetokunbo Ajayi said the ambition of  Propertygate is to become a global property development firm that will guarantee customer satisfaction.

Ajayi stated that the company will continue to invest in services and products’ designs, features and processes in alignment with the needs of the market. He pointed out that this recognition for market inspired projects in addition to other actions, have propelled the company’s forward progression since its inception.

Ajayi described the company recent annual general meeting, AGM as very successful. According to him,  the shareholders used the AGM to commend the board and management for the exceptional performance despite the inclement operating climate. He disclosed that for the third year running, the company recorded a profitable result in its financial statement for the year ended December 2012.

According to him, total current assets increased to N517million in 2012 from N370million in 2011; while total net assets stood at N303million compared to N280million in 2011.

During the year under review, the  company also recorded progress in its Alexandria Quarters Residential Estate within the Skyview Residential Scheme at Sangotedo, Lekki Peninsula. According to him, the company was prompted to stick to its zero debt finance tradition in the year under review in view of high interest rate and sundry charges.

Propertgate boss who posited that harnessing the huge economic potential in the Nigerian real estate market requires rigorous and sustained efforts while also trying to keep pace with global benchmark, said harnessing the huge economic potential in Nigerian real estate market requires more than ever before, as it involves production of smart, trendy and sustainable products and services that assure real value in the eye of discerning market.

The managing director who noted that the future of real estate business in Nigeria is very bright with abundant opportunities, informed that his company will continue to position itself to maximize business opportunities in a sustainable basis. According to him, “with opportunities opening up in the capital market to promising and well managed enterprises for investment flows, liquidity and other advantages, the company will deepen its competitiveness by improving on its domain expertise, sound management, track records, strong corporate values and innovation”.

Propertygate Development and Investment Pic which turned five years this July, according to the  CEO, is a fast growing company that came to life at the wake of unprecedented global economic meltdown that consumed nations and major corporations worldwide including Nigeria. The company has consistently leveraged on its professional board and management team as well as adherence to strong ethical standards to remain the toast of its teeming customers, according to Ajayi.