A firm, Bondd Homes, has announced plans to deliver its first full-scale development in Ibadan, a move the company says reflects a shift from speculative land holding to income-generating property.

The project, The Nove, is a 10-unit, fully serviced apartment complex on Aare Avenue in New Bodija. It is scheduled for completion and handover to investors in Q2 2026.

According to the company, the development will comprise two studio apartments, four one-bedroom units, and four two-bedroom units. Planned amenities include 24-hour power, parking, CCTV, smart-home features, and fitted wardrobes.

The launch follows years of operation in the short-let market through Bondd Homes’ sister company, Lenido, which the firm says hosted over 600 guest nights in Lagos. The company says the experience informed the design and business model for The Nove.

“Land banking asks you to wait and hope,” said Samuel Akinyele, founder and CEO of Bondd Homes. “We wanted to build something that works from day one. The Nove is not a plot you sit on for five years. It is a hospitality asset that opens its doors, takes guests, and earns from the first night.”

New Bodija is one of Ibadan’s oldest planned residential areas and sits close to the University of Ibadan, University College Hospital, the Oyo State Secretariat, and major commercial hubs like Dugbe and Ventura Mall.

Bondd Homes says the location is expected to attract academics, medical travelers, business guests, and families — the same demographics currently driving demand for short-stay accommodation in the city.

Under the model announced, investors will purchase and own individual units outright. Day-to-day operations, including bookings, housekeeping, and maintenance, will enable investors make money upon delivery.

The Nove represents a departure from a common practice in Nigeria’s property market where buyers purchase land and hold it for years in anticipation of appreciation. Bondd Homes says it is betting instead on “buildings that operate as businesses” from the point of delivery.

“We are not selling a promise,” Akinyele added. “By Q2 2026 our investors get a finished, operating asset. That is the whole point of doing it this way.”

With delivery set for mid-2026, the company says The Nove will test whether there is sufficient demand in Ibadan for professionally managed, hospitality-standard housing as an alternative to traditional long-term rentals.