Pelican Valley Nigeria Limited, a leading Nigeria real estate development company in Abeokuta, Ogun State, has commissioned the Phase II of its Ecostay Apartments in Masa, along the Kobape–Abeokuta corridor of the state.
The ceremony, which marked another milestone in the company’s residential property drive, featured the handover of keys to new homeowners within the estate.
Delivering his welcome address at the commissioning held on Sunday, the Chief Executive Officer of Pelican Valley Nigeria Limited, Ambassador (Dr) Babatunde Adeyemo, attributed the successful completion of the apartments to resilience and strategic planning despite Nigeria’s challenging economic climate.
Adeyemo thanked God for the milestone, noting that rising inflation, economic uncertainty and soaring construction costs have made real estate development increasingly demanding.
He said the completion of the second phase demonstrated the company’s commitment to delivering on its promise to investors.
Adeyemo commended his wife, Mrs Titilayo Adeyemo, for her support, lauded the project team for its dedication and thanked homeowners for their trust in the Pelican brand.
Highlighting the investment potential of the project, the Pelican Valley boss disclosed that the value of apartments in the estate has appreciated significantly within one year.
According to him, two-bedroom apartments that sold for ₦41 million about 12 months ago are now valued at ₦61 million, an increase of ₦20 million per unit.
This represents an appreciation of approximately 48.8 per cent within the period.
“At Pelican Valley, we do not just sell land or bricks; we offer the Pelican Advantage,” Adeyemo said, noting that the company’s philosophy is centred on capital appreciation and long-term wealth preservation.
He said the firm aims to provide opportunities for building generational wealth at a time when inflation continues to erode purchasing power.
Adeyemo stressed that beyond appreciation, the company’s development model prioritises land security, regulatory compliance and timely delivery, with projects sited within government-approved layouts to minimise title and zoning risks.
He described Ecostay Apartments as a functional residential community rather than a speculative land sale, offering immediate habitation and investment value.
He also acknowledged the confidence reposed in the brand by Nigerians in the diaspora, some of whom he said invested without ever meeting him physically, describing it as a testament to the company’s credibility.
The CEO assured existing and prospective investors, both at home and abroad, of the company’s resolve to maintain standards and deliver quality housing.
He said the completion of the project would further boost investor confidence in the brand.
The Phase II apartment blocks, located along Aremo Olusegun Osoba Drive within Pelican Brief Estate, Kobape, are designed as technology-driven, eco-friendly smart homes.
Phase I of the development was commissioned on September 11, 2024. During the ceremony, Aremo Olusegun Osoba Drive was unveiled and named in honour of former Ogun State Governor and elder statesman, Chief Olusegun Osoba, in recognition of his rural electrification project in the area during his tenure.
Osoba’s intervention helped lay the groundwork for the development of Pelican Valley’s multibillion naira projects in the area some three decades later.
The ribbon-cutting ceremony for the Phase II was performed by Mr Adedehinbo Adeyinka, a 60-year-old businessman and the first landlord at Pelican Valley Estate, Laderin.
New homeowners, including South Africa-based Prof. Oluboyo and United States-based Mrs Adekola, received the keys and relevant documents for their Ecostay Apartments, enabling them to take possession of their properties with immediate effect.
The apartments were designed to combine contemporary residential comfort with environmentally conscious features.
Among the facilities highlighted by the company during the handover ceremony were automated security doors and access-control systems intended to enhance residents’ safety and facilitate movement within the estate.
The development is connected to the national electricity grid. However, in anticipation of growing demand for alternative energy sources, the company said the electrical wiring and fittings had been designed to accommodate solar power and inverter systems.
According to the company, the provision would give homeowners greater flexibility in adopting alternative energy solutions to manage electricity costs and improve the reliability of their household on public power supply.
In their separate goodwill messages, the new homeowners, Oluboyo and Babatunde Adekola, alongside other dignitaries, praised the Pelican Valley boss for his consistency, tenacity, humility and integrity, which they said had contributed to the successful completion and delivery of Phase II of Ecostay Apartments.
