WorldStage Newsonline– UACN Property Development Company Plc (UPDC) that is into the development and management of luxury, premium and classic apartments in selected cities in Nigeria, on Thursday said it was undergoing a restructuring of its facility management division.
A notice to the Nigerian Stock Exchange signed by Folake Kalaro, Company Secretary said its facility management division will be transferred to First Choice Facility Management Company Limited, a wholly owned subsidiary of UPDC via an Asset and Business Transfer Agreement.
UPDC first operated first as a Department, then as a Division of UAC of Nigeria Plc until 1997, when the business was incorporated as a public limited liability company and listed on the Nigerian Stock Exchange.
Its current portfolio includes residential and commercial properties in Lagos (Cameron Green, Ikoyi; Metro Gardens, Lekki; Grandville, GRA – Ikeja; KPMG Towers, VI etc.), Abuja (Salatu Royal Estate, Wuse II; Emerald Court, Apo; Metro City, Apo; SEC Office, CBD etc.) and Port Harcourt (Vintage Gardens, NAFF Estate).
