Stadium Shopping Complex, Ibrahim Taiwo Road, Ilorin
Real EstateNovember 16, 2022by Dayo David

Abdulmajeed tours HIPDC estates in Ilorin, moves to add value

The Group Managing Director and Chief Executive Officer of Harmony Holdings Limited, Mallam Abdullahi Abdulmajeed, on Tuesday began an official tour of estates owned by HHL Investment and Property Development Company (HIPDC) in Ilorin, the Kwara State capital.
HIPDC is a subsidiary company of Harmony Holdings that operates in the real estate sector. Previously known as the Kwara Investment and Property Development Company (KIPDC), the company changed name after its ownership transfer to Harmony Holdings, the investment management company of the Kwara State Government, in 2012.

HIPDC had constructed and managed mega estate projects since inception under successive governments in the state.
Most of these estates have however been abandoned, resulting in some infrastructural gaps and irregularities.
The GMD/CEO therefore kickstarted a tour of these estates with a team in his move to identify areas where values could be added under his leadership.
The team included members of HIPDC’s new management led by Ag. Head Mr Baba AbdulRahman and outgoing Ag. Head Engr. Ahmed Jibril who has been elevated to the position of Group Head, Special Projects, Harmony Holdings Limited.

The estates inspected include, Asa Dam Housing Estate (Phase 1 & 2); Agba Dam Housing Estate; and Kulende Housing Estate (Phase 1 – 4).

The team led by the GMD/CEO identified some infrastructural gaps, including road network challenges, some of which were caused by flooding and have been penciled down for intervention.
He also inaugurated a committee to look into the beautification and aesthetics of the entry points of these estates, while also providing branded access and symbolic ownership for HIPDC.
The GMD/CEO will also tour the remaining estates owned by the subsidiary company to personally ascertain what obtains there and areas of intervention if need be.

Earlier on a radio appearance at Albarka 89.9 FM, the GMD/CEO dismissed insinuations amplified by some uninformed opposition elements that the state government is planning to eject residents of Mandate III estate.
He explained that the estate was built with a loan from the Federal Mortgage Bank of Nigeria (FMBN) under the administration of Dr Abubakar Bukola Saraki, adding that the loan had gone bad because it was not serviced.
He noted that some irregularities and malpractices, including non-payment of due fees at Mandate III estate, have been figured out under his leadership.

Abdulmajeed said these issues, especially the ones relating to non-payment of dues on the part of some residents must be resolved for the inherited loan of FMBN to be serviced by the government.
He disclosed the series of engagements and interventions he has had with the FMBN over the loan which has yielded fruits for the state and people.
He therefore reiterated that the state government is not ejecting anybody out, but advised that dues be paid by defaulters to prevent the takeover of the estate by FMBN.