Firm to grow real estate operations

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U.O.O Nigeria Plc has said it will leverage on its core business area where it has comparative advantage such as in real estate, property development and management for its growth.

It said this in a statement on Monday titled ‘U.O.O Nigeria Plc holds 30th AGM, declares bright future’.

The statement said during the 30th annual general meeting of the company in Akure, Ondo State, the Chairman, Mazi Okechukwu Unegbu, said the firm’s future was bright despite the challenges in Nigeria’s business environment.

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He said, “U.O.O Nigeria Plc plans to leverage on its core business area where it has comparative advantage such as in real estate, property development and management.

“All idle assets are being turned around, while existing structures are enhanced not only to improve their esthetics but also to attract greater revenue.”

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The chairman said the plan was projected to start yielding noticeable result within the next two or three years, and as it stabilised.

He said the company would further re-enter trading activities and other areas all geared towards increased revenue and profitability.

During the year under review, he said, the company braced the challenges in poor power supply, low budget implementation and poor transport infrastructure to continue to grow marginally.

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