LandWey floats ₦20bn commercial paper in fresh expansion drive ~ Prestige Real Estate News
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LandWey Investment Limited, Nigeria’s leading real estate investment company, on Wednesday signed a ₦20 billion commercial paper approved by the FMDQ Securities Exchange Limited (FMDQ Exchange).
The official signing ceremony, held at the LandWey headquarters in Lagos, was witnessed by company executives and professional partners including Pathway Advisors Limited, STL Trustees Limited, Mega Capital Financial Services Limited, Keystone Bank, Meristem Trustees, FBNQuest and UTL Trustees Management Services Limited, Julius Inofe & Co, The New Practice, and Plethora Advisory Limited.
The ₦20 billion commercial paper will enable LandWey to accelerate the development of its ongoing and future projects, create job opportunities, and contribute to Nigeria’s economic growth.
The CP Issuance follows LandWey’s plans to develop the 50-100 MW Isimi Lagos Solar Farm, a renewable energy project aimed at powering over 70,000 homes and businesses in Lagos while promoting sustainable development and reducing the carbon footprint in Nigeria.
In his opening remarks during the official signing ceremony, Mr. Olawale Ayilara, the company’s Group Chief Executive Officer, who expressed confidence that the commercial paper would be oversubscribed given the firm’s pedigree, said that the programme will enable it move to the next level.
“The successful signing of the 20 billion naira commercial paper is a significant milestone for LandWey and a show of our determination to achieve sustainable growth.”
Ayilara also highlighted the success of the CP Issuance as a clear demonstration of the strength and acceptance of the LandWey brand, and the trust placed by investors in the company’s leadership, corporate strategy, and innovative solutions.
He said: “We’re very positive about all the projects we are developing, and we’re not just about developing new projects, but also the purpose behind the projects that we launch.”
In her comments, Ms. Shola Bello, Managing Director of LandWey, said that being able to go to the market was important for the company’s expansion plans.
“Today marks the signing of the commercial paper issuance between Landwey and its partners, the trustees. It’s a significant event because it marks the beginning of our expansion,” she said.
“LandWey is a company noted for innovation. We do projects that impact the environment in positive ways. We develop eco-friendly cities, which ensures that our projects are sustainable. We’re confident about the future.”
On his part, Emmanuel Egbumokei, managing director of MegaCapital, expressed his pleasure to be part of the milestone achievement for LandWey.
According to him: “Very few companies maintain standards critical for the future of sustainability, and LandWey has taken a huge step towards the expansion and growth of its sustainability goals.”
In his own remarks during the ceremony, Mr. Adekunle Alade, Managing Director of Pathway Advisors Limited, one of the leading partners, noted that his firm is very excited for the opportunity to be part of Landwey, which he said, maintains very high standards in projects delivery.
“We’ve been part of a number of real estate companies that have raised money in the capital market recently, and we’re very proud to be part of Landwey today. Very few companies maintain the standards that LandWey maintains, and we’re very interested in sustaining developments in terms of real estate projects,” he remarked.
“This is one of the few companies that are very focused on sustaining developments. It is one thing to build real estate. It is another thing to remember that real estate must be sustainable, and the environment must also be put into consideration in terms of designs.
“You will notice that Landwey projects come with a lot of greenery and a lot of trees, which are very critical to the future. A lot of people develop real estate without being mindful of the input on the environment. So, we’re proud to be a part of this company, and we believe that this is a step in the right direction for the growth and expansion of the company.”
LandWey has built a reputation for delivering quality and innovative real estate solutions to Nigerians over the years, as evidenced by its issuance of the ISO 9001:2015 certificate for commitment to standard procedures and quality management. The company’s success in the real estate industry has been attributed to its commitment to excellence, innovation, and customer satisfaction.
