ULDA Inaugurates Semi-detached Housing Projects 

Funmi Ogundare 

ULDA Cooperatives Multi-purpose Society Limited, recently handed over eight semi-detached affordable apartments by its financial joint venture partner (Dams Enterprises Limited) to its leaders worldwide , designed to enable Nigerians to benefit from real estate investments or own their homes.

 Speaking with THISDAY during the handing – over ceremony, in Bluestone Garden City, Mowe, Ogun State, the Visioner and General Secretary,  Mr. Gbola Oba expressed delight about the investment from the financial joint venture partnership saying that once contribution is made into the cooperative, it will reflect the rise in value of that asset.

He recalled how the cooperative bought 50 plots of land from Bluestone Property Limited in January 2019, at the rate of N125 million paid within a year and thereafter, they started putting up model units.

“We discovered that we needed to build and build big and we sought for financial venture partners who were ready to stake N1.4 billion to build almost 200 units.”

He emphasised on the challenges it encountered saying that from inception, it took more than a year to buy a place with proper documentation even when contributions were being made.

“Making sure you are buying right, entails diligence, carefulness and being very open-eyed,” Oba stated.

Asked what cooperators who have been contributing since inception stand to gain, the visioner stated, “once you put money in a cooperative, it must appreciate. You can not kick anyone out of it. The sources of revenue reflect the names of contributors. We are currently developing 42 plots out of the 50, the assets on ground are appreciating.” 

He expressed delight about one of the alumni of its training institute who was on site to do the plumbing works of the building projects saying that due to the training he got, he has now established himself as an entrepreneur.

The Managing Director, ULDA UK, Mr. Kola Aregbe explained that aside from providing shelter, the artisans involved in the actual construction, were those that had gone through the training in its institute.

“There are artisans such as plumbers, bricklayers and electricians. They have been trained and are now gainfully employed to construct the units,  so we are providing employment and capacity/skill building development.”

He described the building units as very affordable saying that with the construction arm of the cooperative society, it does a great deal to manage overhead and cost. 

Aregbe noted that housing for all comes with its challenges, but targets must be set and deliberate steps must be taken to address them.

The Global President of the board, Chief Olawumi Gasper explained why the cooperatives society was formed with the aim of providing decent housing for as many as possible, especially its members.

“We have partnered with ULDA UK and I will say it’s a very good beginning . Our cooperators can come over to see what it looks like. The next thing is for us to decide what will make life easier for everybody by delivering the housing to them.”

He expressed optimism that in the next two years, they would have been able to deliver 185 units to cooperators.

He emphasised on the impact its training institute has made in the lives of artisans saying that about 12 of them have been giving work permits in the UK.

“For us, it has always been our focus to get Nigerians to the UK to enable them to get skilled and certified with the aim of coming back to Nigeria to develop the economy.

In her remarks, the Managing Director of Dams Enterprises Limited and property investor, Chief Omolara Hassan expressed satisfaction about the partnership with ULDA saying that its investment was judiciously utilised and that some of the units were delivered within six months.

“I am confident that this is the beginning of a good thing . We are looking at investing more for 120 properties,” she stated.