Mr Wole Oshin
Chairman, UPDC Plc.
UPDC is a foremost real estate development and facilities management business delivering integrated offerings to our customers. We provide attractive real estate, as well as first class property and facilities management services.
Our core business objectives are to rapidly scale our property development and facilities management businesses, improve liquidity through the sale of non-strategic assets and reduce our debt obligations.
UPDC operates in the Nigerian real estate industry which has an incredible potential for scale. Effectively harnessing this opportunity requires access to the appropriately structured funding.
I am delighted about the significant milestone we achieved with the successful conclusion of our N16 billion rights issue in 2020, proceeds of which were used to strengthen our capital base and position us for growth. This achievement is a result of the hard work and resilience displayed by the management team over the past two years, where we refined our strategy to market and strengthened the company’s corporate governance structure.
Following Custodian Investment Plc’s acquisition of a majority shareholding in the Company, UPDC is now proudly a member of the Custodian Investment Group.
The UPDC team is in a strong position to continue to create value for all stakeholders by executing high yielding projects. We trust we can count on your continued support and are grateful for the confidence shown in us.