Union Homes Savings & Loans Plc, a leading real estate player, on Friday 4 October 2024, signed a memorandum of understanding with Afia Homes and Properties to build quality and affordable homes.
The MOU was signed at an event to celebrate Engr’s 52nd birthday of Abduljelyl Adekunle Karheem MCIArb, MCIOB, MCABE, popularly known as Mogaji Adanla, the CEO of Afia Construction and Building Engineering.
It was a 3-in-1 affair at Sheraton Lagos Hotel, Ikeja, the venue of the event with the birthday celebration, signing of MOU between the two companies and the unveiling of Afia Court Ring Road, Ibadan.
Speaking at the event, Dr. Femi Adewoye, Chief Operating Officer, Union Homes Savings & Loans Plc, said the partnership is part of his company’s policies of contributing to the growth of the sector.
The inspiration to partner with Afia Homes, he said, was as result of the company’s track record.
“We are very delighted to partner with the company. The decision was as result of the success story we have heard about him and the various meetings that we have been holding with him,” he said.
Earlier in his remarks, the CEO of Afia Construction, Engr. Karheem said the partnership is an encouragement for his company to do even more in providing quality and affordable real estate services.
“What has helped us over the years is that we pay utmost attention to quality.” That has been one of our selling points,” he said.
He added”We don’t just do development, we do development in prime locations. So Afia Court, located at Lateef Oyelade GRA, Ring Road, Ibadan, is 9 units of 3 bedroom apartments and 3 units of fully detached 3 bedroom duplex.”
“We target people locally but pay more attention to the people in the diaspora. A lot of them have built houses of ten, or twenty bedrooms and they visit Nigeria once in two years. That, to me, is an unintelligent investment. So what we are doing is to change their mindsets to be investing wisely. For instance, our 3-bedroom apartments in Africa Court that is currently selling for #60m can be put on short let with potential income generation of #150,000 daily on an average of 24 days a month, making #3.6m and yearly #43.2m. So investing in what could be bringing in income is more reasonable than building a mansion that costs over #200m and being locked up while you are away.
Speaking further on why his company decided to partner with Union Homes, Adanla said “The brand is a big player in real estate.”
“They have been so consistent and their level of professionalism is second to none,” he said.
Meanwhile, the Oyo State Commissioner for Environment and Natural Resources, Mr. Abdulmojeed Mogbonjubola, in his own remarks, described the Afia Homes CEO as a dogged businessman. “He’s an encourager per excellence,” he said.
Extolling Afia Homes‘ giant strides in the real estate sector in Oyo State, Mogbonjubola said the state is the new hub of real estate.
In his words, “Oyo State is the state to watch when it comes to real estate now. The state is just about 120 kilometres from Lagos, and that is like Abu Dhabi to Dubai. Like my principal, Governor ‘Seyi Makinde used to say where the road is going, development must go.
“Our major investment in Oyo State is development in the areas of road opening, security, education and health.
“So the new investment hub of the South-West is Oyo State.”
Some of the dignitaries at the occasion include the Baale of Adanla, Chief Ahmed Oladimeji Abdulai; Mr. Peter Idanwekhai of Union Homes Savings & Loans and Anthony Unuafe of Union Homes Savings & Loans.
The list also includes Alhaja Mujidat Adenike Abiola, a Director in Afia Construction; Mrs. Adenike Taiwo, a Director in Oyo State Ministry of Land and Housing; Town Planner Owolabi Agboola; Engr. Abdulkareem Babalola Salau; Alhaji Jamiu Lawal, and the lovely wife of Engr. Karheem, among others.
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