CategoriesBusiness Construction Marketing Real Estate Uncategorized

Agusto & Co. assigns an “A-” rating to Wemabod Limited with a stable outlook

Agusto & Co. assigns an “A-” rating to Wemabod Limited (“Wemabod” or “the Company”). The rating reflects Wemabod’s good operating cash flows supported by the relative stability in its earnings and strong average occupancy rate of nearly 90% across its portfolio of commercial, industrial, and residential properties. The rating further considers the Company’s diversified income stream that has continued to support revenue growth, and its unique project financing strategy that has helped to keep its leverage low.

Wemabod Limited is a real estate and property development company with a diversified portfolio of commercial, industrial, and residential properties across major cities in Nigeria. The Company is the real estate arm of Odu’a Investment Company Limited (“the Odu’a Group”) – a conglomerate owned and controlled by the former Western States of Nigeria (now Oyo, Ogun, Ondo, Osun, Ekiti and recently added Lagos State). Wemabod owns some of the iconic commercial properties in Lagos including Western House, Investment House, Unity House, Lapal House and Awolowo House. The Company’s primary focus has been on property development and acquisition with the view to generating rental income. However, there has been a shift in Wemabod’s strategy with increased investments in new properties as well as renovation of existing commercial buildings in a bid to improve their attractiveness and occupancy rate.

CategoriesBusiness Construction Marketing Real Estate Uncategorized

SIXTY AND STEADY - WEMABOD LIMITED CELEBRATES THE 60TH ANNIVERSARY OF ITS ESTABLISHMENT. (Press release)

Wemabod Limited announced its 60th-anniversary celebration as one of Nigeria’s oldest but very solid property development and management companies.

The company which has emerged as one of the longest-standing real estate solution providers over the last sixty years is set to raise a glass on this momentous Diamond Jubilee celebration. Read more “SIXTY AND STEADY - WEMABOD LIMITED CELEBRATES THE 60TH ANNIVERSARY OF ITS ESTABLISHMENT. (Press release)”

CategoriesBusiness Construction Marketing Real Estate

DEVELOPMENT AGREEMENT FOR SUPER PLAZA MALL

On 15th September 2021, Wemabod Limited signed a development agreement with Median Infrastructure development company for the Development of land measuring 4426.45 Square meters, formerly known as Super Cinema and more recently as Super Plaza, along the bustling Akerele Road, Surulere, into the Proposed Super Mall. Read more “DEVELOPMENT AGREEMENT FOR SUPER PLAZA MALL”

CategoriesConstruction Marketing Real Estate

Five Ways to Keep your House Cool without Air-conditioning

Purchasing an air conditioner may not be what you can tick off your To-Do list right now, but if you find your house uncomfortable as a result of the heat, there are creative ways to make it even more conducive without air conditioning.
Buy a Box Fan – Box fans are often placed in or near the windows, it helps to draw in cool air from outside or pull warm air out of a room depending on how they are placed. If the blades face the window screen, the fan helps pull hot air out of the room, flipped the other way, it draws in air from outdoors. It saves energy and is also an affordable alternative to air conditioning. For your kitchen and/or bathroom, fix an exhaust fan that will pull the hot air that rises after you cook or in your bathroom to draw out steam after showering.
Close your Curtains and Blinds – Heat finds its way into the house through windows, to lower the indoor temperature, close your curtains and blinds. It is advised to use dark curtains and blinds, and this will help to reduce the flow of sunlight into the house. When the sun is down, you can open up all curtains and blinds to allow fresh air in.
Stay Hydrated and Take a Cold Shower – To keep your house cool, you have to feel relaxed within. Drinking water regularly is the first step, and it makes your body hydrated and replenishes body moisture lost to heat. Taking a cold shower or bath also helps to cool the body by lowering its temperature.
Disconnect Unnecessary Heat Sources – One of the major causes of heat are unplugged heat sources which include your chargers plug, TV and other electrical appliances that draw in additional heat through the socket. To lower the temperature in your house, always unplug chargers and other appliances that are not in use. Also, consider using more energy-efficient and LED bulbs, it saves energy, money and heat felt in the house.
Declutter your House – Sometimes the heat you complain about can be caused by all the unnecessary load in the house. When your home is congested, there is little or no room for air to move freely. Clearing out the house will enable proper ventilation and allow air to circulate freely. Also, if there is a room no one is using, close it off to keep the cool air in only occupied areas of the house.

CategoriesConstruction Marketing Real Estate

Top Mortgage Banks in Nigeria

A mortgage institution is a bank that specializes in mortgage loans, it offers loans to people for the purchase of real estate properties. Most times individuals may not be able to buy houses with their monthly salaries. Also, it may take a long time to save up to buy or build a house. Mortgage banks help by giving real estate investment capital as loans, then collects the payments back installmentally.
Federal Mortgage Bank of Nigeria (FMBN) is the oldest mortgage institution in Nigeria, it was established in 1956, known then as the Nigerian Building Society (NBS), a joint venture of the Commonwealth Development Corporation and the Federal and Eastern Governments of Nigeria. The Bank operates as an effective vehicle for increasing the mobilization of long-term funds, lending volume and expansion of mortgage lending services to all segments of the Nigerian population.
FBN Mortgages Limited is a leading Primary Mortgage Bank (PMB) with focus on delivering the best mortgage banking services and products that typify the dominance of its parent– First Bank in the financial services industry. As a dedicated provider of a wide range of mortgage and real estate financing solution, FBN Mortgages is in a unique position to help customers make those critical steps towards seamless homeownership and real estate development.
Abbey Mortgage Bank Plc is the premier, largest and most profitable, non-aligned Primary Mortgage Bank in Nigeria. It is one of the seven national Primary Mortgage Banks (PMB) licensed by the Central Bank of Nigeria and Federal Mortgage Bank of Nigeria (FMBN). It is also an accredited primary mortgage bank (PMB) for the National Housing Funding (NHF) on-lending facilities. The bank offers different mortgage and investment products, and advisory services to corporate organizations and individuals to empower them to access housing finance. It also facilitates the provision of mortgage and real estate related services to respond to their needs.
Platinum Mortgage Bank Limited was incorporated in 1992 with the Corporate Affairs Commission to provide savings, loans and homes ownership services. It was licensed by the Central Bank of Nigeria and the Federal Mortgage Bank of Nigeria under the CBN Decree 24 of 1991 and FMBN Decree No. 53 of 1989 respectively to provide Mortgage Banking Services in Nigeria. Hitherto known as Platinum Home Investment and Mortgage Limited, PMB Limited was recapitalized into a formidable Primary Mortgage Institution backed by innovative products, services, and requisite professional management.

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