Proposed and founded by a group of successful Ogbomoso professionals from all walks of life within Nigeria and abroad. These seasoned individuals were thinking of establishing a residential estate where they could spend their days after their pursuing successful careers all over the world. Their vision is an estate that will in all ramifications replicate or approach the best of any residential estate around the world - in terms of amenities, house construction, open spaces, and management.
The Beginnings
Following the conception and active promotion of the first gated and ultra-modern housing estate in Ogbomosoland by the sons and daughters of the city living in North America and in Nigeria in 2010, the first thirty acres of land for the estate was purchased on the west bank of the Oba dam from the Yaku Royal Family through a Land Sale Agreement signed on November 18, 2010. Increased interest in the project from other citizens of the city at home and in the diaspora led to two additional purchases of contiguous land tracts for a total of 62.5 acres.
The shareholders then decided to register a corporate vehicle, not just for the first gated housing estate, but also for subsequent real estate development projects in the city using best-in-class development processes. The decision resulted in the incorporation [RC 1093379] of Ajilete Real Estate Investment Trust Limited by the Corporate Affairs Commission of the Federal Republic of Nigeria as a private limited company under the Companies and Allied Matters Act 1990. The certificate of incorporation was issued on the 31st of January, 2013.
After a detailed discussion by the members on the best-in-class practices and covenants envisioned for the estate, AREIT commissioned a firm of town planners for the layout design of Ajilete Lakeview Model Estate, the company’s flagship model estate in the city. The layout was approved by the appropriate town planning authority with jurisdiction over the location of the estate [Orire LGA] on March 6, 2013. The layout made provision for a total of 110 residential plots consisting of 2000 square metre and 1000 square metre plots, a club house with recreational facilities, a neighborhood centre for various community services, and land allocation for utility services like the estate electrical power plant, water treatment plant, sewage treatment plant and refuse disposal plant.
The result is Yaku Lakeview Model Estate at Yaku, Ogbomoso, a planned, gated, low density community on the west bank of Ogbomoso water reservoir on River Oba.
The Residential Estate is open to anyone who shares the vision and the desire to live in a modern estate in Ogbomoso, and who is prepared to live by the modern management approaches and the estate deeds of restrictions. Subscription for available plots at the estate can be initiated by contacting the AREIT Secretary.
