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Key Points
- Haldane McCall Plc plans to list on the Nigerian Exchange (NGX) to attract investors and expand its presence in the real estate and hospitality sectors.
- The listing aligns with the Nigerian government's efforts to bridge the housing deficit, with Haldane McCall aiming to contribute through its Suru Homes subsidiary.
- Haldane McCall operates in two key sectors—real estate through Suru Homes and hospitality through Sure Express Hotels.
Haldane McCall, a Lagos-based real estate service and hospitality provider led by real estate mogul Edward Akinlade, is preparing to list its shares on the Nigerian Exchange (NGX), targeting a market capitalization of N11.98 billion ($7.31 million).
The upcoming listing, scheduled to introduce 3,122,000,000 ordinary shares at N3.84 ($0.00234) per share, reflects Haldane McCall’s commitment to expanding investment opportunities within Nigeria’s real estate and hospitality sectors. The move aligns with government efforts to alleviate the country’s housing deficit by attracting investors to support the company’s ambitious expansion through its Suru Homes subsidiary.
Enhancing affordable housing initiatives
Haldane McCall’s listing on the NGX aims to enhance liquidity and secure capital for future projects. The company intends to focus on the pressing need for affordable housing in Nigeria, a goal underscored by its commitment to developing 45 budget hotels under the Suru Express brand and constructing 100 units of low-cost housing.
“Our expertise in real estate, combined with a strong board of directors, positions us to outperform peers,” said Haldane McCall Chairman George Oguntade. “We are committed to generating value and ensuring that Nigerians benefit from our growth. Our listing on NGX is a step towards that vision.”
Haldane McCall: Growing player in West Africa's real estate market
Incorporated in 2012, Haldane McCall has rapidly established itself as a key player in Africa's emerging real estate and hospitality markets. The company, known for its Suru Express Hotels and Suru Homes brands, has focused on developing luxury residential properties in Ikeja GRA, Lagos, and holds a portfolio of prime real estate.
Edward Akinlade's leadership has been marked by significant milestones, including the firm's transformation from a private entity to a public company within a year. Under his guidance, Haldane McCall is now set to expand its offerings by developing 45 budget hotels under the Suru Express brand and building 100 units of low-cost housing, further contributing to Nigeria’s affordable housing initiatives.
Haldane McCall's upcoming listing on the NGX highlights its growth potential and commitment to addressing Nigeria's housing needs, solidifying its position as a leader in West Africa's real estate and hospitality sectors. Under Akinlade, the company is focused on delivering long-term value for investors while tackling critical housing challenges.
