UACN Property Development Company plc. is unveiling 6 new projects in 5 cities as part of the company’s agenda for 2014. The projects which will see the company venture for the first time, outside of their traditional areas of operation (Lagos, Abuja, and PH) into other areas like Ibadan in Oyo state, Asaba in Delta state, as well as Calabar in Cross River state. Present at the event were Mrs Titilayo Gbadamosi (sales and Marketing), Mr

Yemi Ejidiran (Director Business Development), Mr Hakeem Ogunniran (Managing Director) and Mrs Sade Ogunde (finance director), all of UPDC.

The projects, 2 of which are joint ventures with state governments in Oyo and Cross River, will see UPDC deliver best-in-class accommodation to residents in the form of a 50-unit residential estate called Olive Court in Agodi GRA of Ibadan and Calabar golf estate, respectively.

The move which was lauded by all present at the press briefing is expected to allay the serious need for residential accommodation as evidenced in the huge housing deficit in the country. The other projects on the company’s agenda for the year include 20 unit accommodation in Asaba  GRA called Pineville, 83 units residential accommodation called James Pinnock Place in Lekki, 27 unit housing in Maitama called Pinnacle, and the 152 unit residential accommodation/office space in Festac.

The projects are expected to deliver a total of 502 housing units in addition to 5,820 Sq. M. of office accommodation to Nigerians within the next 24 months. Also in the offing on the company’s agenda is the Festival mall, a 10,000 Sq. M. gross land area (leasable)  which is expected to bring Shoprite (anchor tenants) and the Silverbird cinemas to the residents of Festac and it’ environs. The scheduled date for opening of the mall is sometime in December of 2014.

Prior to the unveiling of these projects, UPDC after researching and observing the Nigerian Real Estate market in 2011, classified several Nigerian cities into A,B, and C categories based on current and potential size of the market hence their focusing activities on Lagos, Port Harcourt, and Abuja, the 3 cities that fall under their A category