By George Ozalla
Pineleaf Estates and Properties Ltd is expanding its housing and real estate activities in the South-East and South-South, with a special affordable housing scheme for civil servants and a wider investment plan that includes residential estates, industrial developments, agriculture and livestock production.
The Chief Executive Officer of Pineleaf Estates and Properties Ltd, Archbishop Dr Onyeka Joseph Nzekwesi, disclosed this when members of the League of Anambra Journalists in Abuja (LAJA), led by its President, Ambassador Ikenna Okonkwo, paid him a courtesy call in Abuja.
Nzekwesi, who took the journalists down memory lane on his journey into real estate business, also spoke extensively on the challenges he encountered at the early stage of the venture and how he gradually overcame the obstacles and expanded the business into a property development company with projects in several states.
He explained that his experience in business had taught him the importance of patience, proper planning, discipline and the willingness to start small and grow steadily, rather than looking for instant wealth.
He therefore advised young people to eschew the pursuit of quick money, stressing that the desire to become wealthy overnight could make many of them lose sight of the value of learning a trade, acquiring experience and building something that could stand the test of time.
The Pineleaf CEO also spoke strongly on the traditional apprenticeship system, describing it as an important model that helped young people acquire practical knowledge and develop the discipline required to succeed as entrepreneurs.
According to him, the long period spent learning under an experienced master gave young people the opportunity to understand the practical side of business, develop competence and eventually establish themselves in their own areas of endeavour.
Nzekwesi stressed that the apprenticeship model should not be abandoned in favour of quick wealth, saying it had contributed significantly to the entrepreneurial strength of the South-East and had produced people who became successful in different businesses after years of learning and practice.
He, however, emphasised that apprenticeship should work alongside formal education, rather than being seen as a replacement for it. He said both practical training and formal education had important roles to play in preparing young people for life, business and professional responsibilities.
On housing, Nzekwesi said the high cost of accommodation had made it difficult for many civil servants, particularly teachers and other public-sector workers, to become homeowners, prompting Pineleaf to develop a scheme through which beneficiaries could pay for their houses over several years.
He explained that beneficiaries would make an initial payment of 20 per cent and spread the balance over a period of between five and 10 years while occupying the houses.
He said the scheme provides one-bedroom houses at about ₦2.8 million, two-bedroom units at ₦4.4 million and three-bedroom units at ₦5.4 million.
Nzekwesi stressed that the houses were being built as completed quality homes and not merely sold as bare plots of land, saying the intention was to make home ownership more realistic for workers who could not afford to pay the full cost at once.
“We want to see the smile on the faces of the civil servants,” he said.
He said the affordable housing projects were being developed in Anambra and Delta states, with some of the houses being prepared for handover to beneficiaries. He further stated that the Delta State Government had expressed interest in the project and that arrangements were being made for a formal handover of keys.
Nzekwesi also explained the thinking behind Pineleaf’s wider real estate activities, saying the company had concentrated much of its work in the South-East and South-South because of the investment opportunities available in the regions.
He said Pineleaf had developed estates in Anambra, Imo, Abia, Ebonyi, Delta and Rivers states, with its approach focused on turning undeveloped locations into organised communities with roads, security and other facilities.
“We don’t just buy land; we develop,” he said.
He cited developments around Awka and Isiagu in Anambra State, where he said areas that were once largely undeveloped now have residential estates and other infrastructure.
According to him, one of the company’s estates has nearly 500 houses at various stages of completion, including bungalows and duplexes, with controlled access and CCTV provided as part of the security arrangements.
He also recalled the experience of an investor who travelled from Abuja to Anambra after seeing one of Pineleaf’s advertisements and becoming interested in the company’s plan to develop an estate with an industrial component.
Nzekwesi said the investor subsequently bought 20 plots at ₦15 million each and paid cash, adding that such investments could be attracted to the region when developers provide projects with clear economic value.
He stressed that the South-East needed to pay greater attention to production and industrial development, arguing that the region should not be known mainly for consumption when it has the capacity to produce goods, create jobs and build businesses.
“We need to begin to think about factories the same way we think about luxury vehicles,” he said.
Nzekwesi said Pineleaf was also exploring agriculture, livestock production and other ventures as part of its wider economic interests, explaining that his vision was to see more people live, work, invest and build sustainable businesses in the region.
He maintained that real estate should not be viewed only as a means of buying land and waiting for its value to increase, but as an avenue for creating communities, supporting businesses and providing opportunities for people to earn sustainable incomes.
Earlier, the LAJA President, Ambassador Ikenna Okonkwo, commended Nzekwesi for what he described as his commitment to using his resources and opportunities to impact other people.
Okonkwo said the delegation was impressed by Nzekwesi’s business activities and his interest in investments in the South-East, adding that the courtesy call provided an opportunity for the journalists to hear directly about his business journey, his experiences in building Pineleaf and his views on the development of the region.
He said the interaction also provided an opportunity for Anambra journalists in Abuja to understand the work being done by Anambra professionals and entrepreneurs outside the state and to discuss the need for greater investment in housing, industry and other areas capable of creating opportunities for the people.
