A real estate and hospitality company, Haldane McCall Plc, has projected a profit after tax of N1bn for the 2025 financial year, as the company unveils a N250bn real estate expansion strategy targeted at easing Nigeria’s housing deficit.

Speaking during a media parley in Lagos on Thursday, the Group Managing Director of Haldane McCall, Edward Akinlade, disclosed that the company plans to build 650 affordable housing units across Lagos and Ogun States under a Public-Private Partnership model.

To kick off the expansion, Akinlade said the company would be launching a N75bn first tranche of its N250bn bond programme before the end of 2024.

“Our strategy is to work with subcontractors and partners to deliver 650 housing units annually, starting with the first phase valued at N7.5bn.

In the next three years, we plan to invest N250bn in the real estate market,” Akinlade said.

He noted that the company, listed on the Nigerian Exchange Limited, currently has a balance sheet of N20.8bn and is targeting a valuation re-rating following the execution of its expansion plans.

He added that the real estate firm is also focusing on hospitality and joint venture arrangements to maximise returns despite challenges in the construction industry caused by foreign exchange volatility and rising material costs.

According to him, “We are not just looking at housing; our portfolio will also include hospitality developments. We are embracing innovation in how we fund and deliver these projects.”

In her remarks, the Deputy Group Managing Director, Abiola Elugbaju, reaffirmed the company’s commitment to bridging Nigeria’s housing gap through innovative partnerships and sustainable investment strategies, saying, “At Haldane McCall, we are not just building houses; we are building communities and long-term value for investors.”

The PUNCH reported that Haldane McCall Plc generated N2.5bn from the sale of 34 housing units completed earlier this year in Ketu, Lagos.