UPDC to deliver Oyo’s Olive Court project in August
EXACTLY 18 months from the take off time, a frontline real estate firm in Nigeria, UACN Property Development Company, will be delivering the second phase of a 50-units housing project, located in a serene environment within the neighborhood of Agodi Government Reserved Area (GRA), Ibadan, Oyo State.
Works are still ongoing to ensure the delivery of the first phase proposed to be unveiled next month. As at last week, the first phase could be said to have reached about 65 per cent completion rate; and the company has assured to deliver the estate as promised.
The 50 units housing unit estate, which comprises of nine units of five-bedroom detached houses, 22 units of four-bedroom semi detached houses and 19 units of three-bedroom terraces would be managed by UPDC when completed.
Olive Court, a premium residential estate, is a joint venture between the Oyo state Government and UPDC Plc. It is located on 2.04 hectares of land with beautifully designed, generously spacious houses coupled with excellent leisure services.
Recreational facilities on the estate are swimming pool, gymnasium, children’s Playground, clubhouse and meeting rooms.
Speaking earlier on the project, UPDC’s Managing Director, Mr. Hakeem Ogunniran, said: “UPDC and the Oyo State government are currently involved in a joint venture that is meant and designed to create a win-win situation for both parties. We have created an SPV named First Restoration Property Development Company Ltd in which we are both shareholders. This SPV will midwife the development of Olive Court and other projects that we are looking at in the future.
He added: “Firstly, developments like Olive Court will complement the efforts of the state government in the area of infrastructural development. Clearly, the state has witnessed significant infrastructural development, which are very visible and real estate typically follows infrastructure.
Expectedly, the state will begin to draw investors and people who will obviously need decent, comfortable and upscale accommodation.
“Through Olive Court, we are creating a comfortable living environment for would be buyers and residents. We are convinced that the great city of Ibadan is ripe for a premium estate with all the ancillary facilities. We are creating a community of people in Olive Court with access to the best of modern and state-of-the-art recreational facilities that will make life comfortable for all its occupants. These include, 24-hour power supply, swimming pool, gymnasium, clubhouse, children’s playground, parking space, borehole and water treatment plants, standby generator, and alarm systems, amongst others.
“Of course, this project will generate significant employment opportunities because we are leveraging on local skills and resources to actualise the project. The governor is particular about this and we will ensure that we actualise that objective.”
According to Brand Manager, UACN Property Development Company Onikepe Akinsanya, “the first phase of the tastefully finished estate comprises of three house typologies namely Detached, Semi – Detached and Terrace Houses. Phase One is sold out and will be ready for occupation by June 2015. Meanwhile, work has commenced on the second phase”
During a recent inspection of the project, Facility Manager, Olive Court, Adeola Akande, said that “Phase one of the project is at 65% percent stage and would be completed by June 2015, while phase two would be completed in August 2015. The Olive Court is prime estate because of its location and quality of facilities provided in it.”
Other facilities in the project, according to Akande are sewage treatment plant, borehole and water treatment plant, fire and burglar alarm system, 24/7 power supply and ample parking space.