The Chief Executive Officer of , , has clarified issues surrounding the widely reported $250 million investment linked to the company’s estate development affected by the project.
Speaking with journalists, Okengwu explained that the $250 million figure represents the estimated Foreign Direct Investment (FDI) attracted into Nigeria’s real estate sector through the estate development.
According to her, much of the investment was mobilised from Nigerians in the diaspora and international partners participating in the project.
Diaspora investment in real estate
Okengwu noted that diaspora-driven real estate investments contribute significant inflows to Nigeria’s economy each year, adding that the WINHOMES estate project forms part of that broader investment stream.
She said the company’s ongoing engagement with government authorities relates to compensation for the section of land affected by the alignment of the coastal road project.
The CEO explained that the amount being discussed is tied specifically to the portion of land impacted by the infrastructure development.
Estate development already underway
Okengwu revealed that extensive groundwork had already been completed on the estate site before the coastal road alignment affected part of the project.
According to her, preparatory works carried out included:
- Land clearing and grading
- Internal road layout planning
- Sand filling and embankment construction
- Drainage preparation
She disclosed that more than 30,000 truckloads of sand were deployed to stabilise the land as part of the estate development.
Heavy construction equipment such as bulldozers and payloaders were also mobilised for the project.
Community engagement and infrastructure
The project also involved several early-stage developments, including:
- Construction of an estate gatehouse
- Community engagement initiatives
- Initial structural work for a proposed multi-storey building
Okengwu explained that the estate operates under a developer-led model, where subscribers purchase plots through the company while it oversees the development process.
Commitment to dialogue
The WINHOMES CEO reaffirmed the company’s commitment to transparency and continued engagement with relevant stakeholders as discussions progress.
She expressed optimism that through constructive dialogue, the project can be adjusted in a way that supports both national infrastructure development and private sector investment.
Okengwu added that the company remains focused on protecting investors’ interests while aligning with Nigeria’s broader development goals.
