2024 STAFFS END OF THE YEAR PARTY A Celebration of Unity and Achievements The holiday season is upon us, and what better way to celebrate the end of a remarkable year than with a grand Christmas party! On December 16, 2024, the UPDC Plc family gathered to commemorate the year’s achievements, reflect on the journey, and enjoy the festive cheer. Click To Watch Live A Night to Remember Held at the Bamboo Lounge, Ikeja GRA, the venue was transformed into a winter wonderland, complete with sparkling lights, elegant decorations, and a magnificent Christmas tree that set the perfect festive atmosphere. The event kicked off at 1 PM, with employees arriving in their finest holiday attire, ready to indulge in an evening of fun and celebration. Heartwarming Welcome The evening began with a warm welcome from our CEO, who expressed heartfelt gratitude for the dedication and hard work exhibited by every team member throughout the year. Highlighting our major milestones and successes, the speech set a positive and celebratory tone for the night. It was a moment of pride for all of us, reaffirming the impact of our collective efforts. Festive Feast No Christmas party is complete without a feast, and UPDC Plc’s celebration was no exception. A lavish buffet was laid out, featuring a delectable array of dishes that catered to all tastes. The culinary delights left everyone satisfied and ready for the festivities ahead. Entertainment Extravaganza Entertainment was in abundance, with music performances that had everyone dancing and singing along to classic holiday tunes. A talented DJ took over later in the evening, keeping the energy high and the dance floor busy. For those who preferred a quieter ambiance, a cozy lounge area provided the perfect spot for conversations and laughter. See More Pictures Fun and Games A variety of games and activities added to the fun, including a Christmas trivia contest, a festive photo booth, and a “Best Dressed” competition. The winners were awarded exciting prizes, adding an element of friendly competition and joy to the evening. Looking Forward As the night drew to a close, the feeling of camaraderie and festive spirit was evident. The 2024 Christmas party was not just a celebration of the year’s end but also a toast to new beginnings and the exciting opportunities that lie ahead in 2025. The sense of unity and shared purpose among the UPDC Plc family is sure to propel us to even greater heights in the coming year. Thank You A big thank you to everyone who made this event possible – the organizing committee, and every member of the UPDC Plc family. Your participation and enthusiasm made this night truly special. Wishing you all a Merry Christmas and a Happy New Year! Stay tuned to our blog and follow us on social media for more updates on UPDC Plc and other events at the Nigerian Exchange Group. Learn More Recent Events IWD 2025 – ACCELERATE ACTION 2024 STAFFS END OF THE YEAR PARTY UPDC REAL ESTATE 3RD ANNUAL SUMMIT FOR 2024 NEWSLETTERS FOR THE MONTH NOVEMBER 2024 – UPDC No Comments December 4, 2024 Leave a Reply Cancel reply Logged in as admin. Edit your profile. Log out? Required fields are marked * Message*

What we’ve been reading in november 2024 Real estate is more than transactions — it’s about shaping spaces where life happens. In each edition, we’ll break down the complexities of the industry through expert insights and fresh perspectives. Click To Watch Live Real estate is more than transactions — it’s about shaping spaces where life happens. In each edition, we’ll break down the complexities of the industry through expert insights and fresh perspectives. We share updates from our latest developments, highlight trends shaping our urban future and feature interviews with industry leaders. We discuss key topics, address important questions on trends and developments in the real estate industry! Transit-Driven Development: The Lagos Rail Lines as a Catalyst for Urban Growth The launch of Lagos’ Red Line rail system on October 15, 2023, marks a pivotal moment in the city’s urban development. This ambitious project, spanning 37 kilometers from Agbado to Marina, promises to revolutionize commuting for millions and reshape the economic landscape of Africa’s largest city.   The Red Line is a key piece in a much larger puzzle. The 600-mile stretch of coastal West Africa from Abidjan to Lagos is projected to become the world’s largest zone of continuous, dense habitation by 2100, potentially housing half a billion people [1]. In this context, Lagos’s rail project is not just about easing traffic—it’s about shaping the future of an emerging megalopolis. The Lagos Rail Lines The locations of Lagos’ Red Line rail stations highlight key transit and economic zones. Agbado and Iju, situated in Ifako-Ijaiye Local Government, lie on the border with Ogun State. Many stations, such as Oshodi, Oyingbo, Mushin, and Tejuosho, are near major markets, and others serve dense residential clusters like Yaba, Oshodi, and Mushin. The rail project also includes six overpasses at Oyingbo, Yaba, Ikeja, Agege, and Mushin, which help reduce vehicular interference and improve traffic flow across these areas.   While Lagos State’s Blue Line rail in its first phase has carried 1.6 million passengers since launching in September 2023—representing approximately 3% of its 150,000 daily target—the Red Line aims for an initial 750,000 daily passengers, potentially rising to over a million. This higher target reflects a larger number of Red Line stations and greater connectivity across Lagos. The slower rate of adoption of the blue line has been attributed to fare pricing, insufficient number of stations and a low number of connecting buses to the station from key residential clusters. Although we are still in the early stages for both the blue and red lines, adoption needs to be better for it to ease congestion and for Lagosians and the Lagos State Government to reap further benefits from the lines. Ridership Per day of popular metro lines in Africa Increased trips on the Blue Line, now at 72 daily (up from 54), have shortened travel times, with the Marina-Mile 2 journey reduced to 18 minutes. The second phase of the blue line, set to be delivered in 2027, is expected to extend the line to Okokomaiko, with plans to connect Ogun State through a station at Agbara. To further boost adoption, the Lagos government has introduced more bus links to rail stations and fare discounts, although pricing remains a challenge. The Red Line fare from Agbado to Oyingbo is ₦1,500, and routes like Agege-Oshodi reportedly cost twice as much as bus alternatives, raising concerns among commuters. Stay tuned to our blog and follow us on social media for more updates on UPDC Plc and other events. Although short-term adoption may be modest, long-term prospects remain optimistic as the line extends and Lagos’ population grows. To maximize adoption, the Red Line needs to be accessible and appealing. Enhanced bus connections to stations, additional stops, fare discounts, and a campaign promoting rail’s benefits can help build a strong, loyal ridership across the city. For further reading visit our website here. REFERENCES 1. French, H. W. (2022). “Megalopolis: how coastal West Africa will shape the coming Century”. The Guardian. Seven US Transit Projects Real Estate Investors Need to Know Megalopolis: how coastal west Africa will shape the coming century Recent Events NEWSLETTERS FOR THE MONTH NOVEMBER 2024 – UPDC The BusinessDay Top 25 CEOs Awards 2024 INSITE – Updates at the Hampshire – September 2024 NEWSLETTERS FOR THE MONTH SEPTEMBER 2024 – UPDC City Updates This month, we are highlighting some key developments from Lagos. Akwa Ibom launches construction of 18 Storey Ibom Towers Mixed Use Development in Victoria Island Read More NRC licenses CCECC to operate freight on LagosIbadan Rai Read More The Hamphire sites Updates Plots in our 5 hectare Hampshire site and service scheme on Monastery Road, Sangotedo were handed over to property owners however we still have some units for sale! Learn More No Comments October 23, 2024 Leave a Reply Cancel reply Logged in as admin. Edit your profile. Log out? Required fields are marked * Message*

What we’ve been reading in September 2024 We discuss key topics, address important questions on trends and developments in the real estate industry! This month we explore inflation’s toll on the economy and the construction industry at large Click To Watch Live Real estate is more than transactions — it’s about shaping spaces where life happens. In each edition, we’ll break down the complexities of the industry through expert insights and fresh perspectives. We share updates from our latest developments, highlight trends shaping our urban future and feature interviews with industry leaders. We discuss key topics, address important questions on trends and developments in the real estate industry! Inflation’s Toll: Rising Costs Reshape Nigerian Spending and Construction Inflation, often described as a silent tax, continues to erode Nigerians’ purchasing power as wages stagnate and costs rise. The cumulative impact of these price hikes is becoming more apparent, straining household budgets and shifting consumer behaviour. As of August 2024, Nigeria’s headline inflation rate hit 32.15%, marking a sharp increase from 25.80% in August 2023. The surge in food inflation has been even more severe, rising from 29.34% to 37.52% year-on-year. Across the country, people are adjusting their spending patterns in response to skyrocketing prices. Transportation costs in Lagos have soared, largely due to the phased removal of the PMS subsidy. Petrol prices have jumped from ₦191 per litre in September 2022 to around ₦855 as of August 2024, placing additional pressure on commuters and businesses alike. 5-year trend on Inflation Rate (%) Source: NBS For developers, inflation has driven up the costs of raw materials, such as cement, paint, and cables. Cement, for instance, has doubled in price, from ₦3,300 per 50kg bag in 2021 to ₦7,000–₦7,500 today. Diesel prices have surged, affecting construction projects that rely on fuel-powered machinery. The Lagos-Ibadan Expressway project, for instance, experienced delays partly due to diesel cost increases—a challenge highlighted by the then Minister of Works and Housing, Babatunde Fashola. These rising costs have led to significant delays in project completions, as developers struggle with cost overruns and monetary constraints. High inflation has driven up interest rates, raising financing costs and further delaying projects. The volatility in exchange rates has also contributed to the problem as some items cannot be sourced locally. With consumer spending power unable to keep pace with inflation, many developers are delaying new projects until conditions stabilize. In some cases, developers have been forced to abandon projects altogether, worsening Nigeria’s housing supply shortage. In response, the Federation of Construction Industry (FOCI) has called on the federal government to revise contract templates and procurement guidelines to account for material cost inflation. At UPDC, we are keenly aware of the challenges posed by the current macroeconomic environment. To cushion the effects of inflation, we’ve adopted value engineering and strategic procurement measures to cut unnecessary costs and ensure that we continue delivering value to our buyers, investors and stakeholders at large. For expert advice on your next strategic real estate investment, portfolio management, or assistance with your upcoming project, feel free to reach out to us here. Focusing on Future Potential, Not Short-Term Hurdles. Evolution of our Hampshire location – Sangotedo. Stay tuned to our blog and follow us on social media for more updates on UPDC Plc and other events. Recent Events INSITE – Updates at the Hampshire – September 2024 NEWSLETTERS FOR THE MONTH SEPTEMBER 2024 – UPDC INSITE ON CO-BUYING PROPERTY WITH FRIENDS INSITE – Updates at the Hampshire Updates AtHampshire The 5 hectare Hampshire site and service scheme on Monastery Road, Sangotedo, where we’re once again putting the UPDC stamp of approval on an emerging region. Learn More No Comments August 23, 2024 Leave a Reply Cancel reply Logged in as admin. Edit your profile. Log out? Required fields are marked * Message*

What we’ve been reading in August 2024 Real estate themes and articles we loved this month—global insights we think you’ll find usefu Click To Watch Live Co-buying property with friends Published on SuperNuclear 19/08/20 By Phil Levin Co-buying property can be a slog. There will be setbacks and obstacles. To get through the slog, you need to employ a good process and learn to love The Process This is a long and detailed post for a very specific audience. The audience is people who will soon go through the process of co-buying property as a group. A more accurate description might actually be “a process” rather than “The Process.” There are a lot of ways to go about this. Here is simply one that we think works well for most people in most situations. We’ll use Radish – our co-bought property in Oakland – as an illustrative example throughout this post.👉 Click Here To Read More UPDC View Point SuperNuclear explore how shared ownership and co-buying are transforming the way we live. The article highlights the benefits and provides know-how on pooling resources with friends or family to create communities where everyone can thrive. For those inspired by these ideas, our high-density plots at Hampshire and Brompton City offer the perfect opportunity to build a connected, supportive living environment Real Estate’s Role in Child Care Published on Thesis Driven 04/06/2024 By Mark Munro Analyzing early childhood education spaces as a real estate investment category 2021, U.S. Treasury Secretary Janet Yellen characterized child care as a “textbook example of a broken market.” Readers with young children have likely encountered this brokenness firsthand. Before the pandemic, half of Americans lived in a “child care desert” with one licensed spot available for every three children. COVID made it even more challenging for child care providers to balance affordable tuition with sustainable wages. While most policymakers have focused on solutions to recruit and retain educators, another frontier may hold the key to unlocking the additional supply needed across the country: investing in real estate and reforming regulations around child care facilities. 👉 Click Here To Read More UPDC View Point Thesis Driven highlights the impact of early childhood care spaces on communities and social cohesion. For developers and investors, integrating these elements is key to creating environments that attract and retain residents. At UPDC, our developments are near quality educational facilities. Investors in childcare facilities can explore opportunities at Brompton City and Hampshire which are located in clusters of multi-family communities On the Recreational Renaissance Published on The Physicality 27/02/2024 By Safi Aziz Play is the new hospitality I am 29 years old and living in the most exciting city in America. Yet, the most fun I’ve had in the last year was a night at Dave & Buster’s. Not hyperbole or exaggeration. I was tremendously present. The only time I looked at my phone was to purchase more swipes. The competition that came from Mario Kart. The camaraderie that came from problem-solving. The adrenaline of fighting off hordes of zombies together. I was a kid again. As I left, it dawned on me that we probably just collectively dropped more money playing games on a Tuesday – than we would have spent on a Saturday night out in Manhattan. This is the power of leisure. Hours can fly by without notice. And with those hours come the need for food, drink, and more. My crew’s exact consumer behavior. In a self-reflective spiral, I wanted to understand this new age of leisure and recreation. 👉 Click Here To Read More UPDC View Point The Physicality explores the resurgence of recreational spaces and their growing importance among consumers. Developers, investors and operators need to explore new concepts and destinations that prioritize social connection and well-being. At UPDC, we understand this shift – whether you’re looking to invest in or develop such spaces, we can help you align with this transformative trend. Stay tuned to our blog and follow us on social media for more updates on UPDC Plc and other events. 👉 Click Here To Read More Recent Events INSITE – Updates at the Hampshire – September 2024 NEWSLETTERS FOR THE MONTH SEPTEMBER 2024 – UPDC INSITE ON CO-BUYING PROPERTY WITH FRIENDS INSITE – Updates at the Hampshire No Comments August 23, 2024 Leave a Reply Cancel reply Logged in as admin. Edit your profile. Log out? Required fields are marked * Message*