Veritasi Homes and Properties Plc, recognized as one of Africa’s rapidly expanding real estate developers, in collaboration with Cooperative Investment and Thrift Society Limited (COOPLAG), officially commenced construction on Allied Towers, an upscale residential complex located in Ikoyi, Lagos, this past Saturday.
This initiative is a key component of a substantial multi-million dollar collaboration between Veritasi Homes and COOPLAG.
Set on a prestigious 1,431 square meter site along McGregor Street, the 11-story building will house 26 exquisite apartments and penthouses, crafted to elevate urban living standards within one of Lagos’ most elite districts.
Neighboring landmarks such as Ikoyi Golf Club, Microsoft’s Nigerian headquarters, and the newly established U.S. Consulate General, Allied Towers integrates modern architectural design with top-tier facilities.
According to the developers, residents will benefit from a range of luxury amenities including a fully equipped fitness center, tranquil lounge areas, a dedicated recreational floor, beautifully landscaped gardens, and secure parking spaces.
At the groundbreaking ceremony, Mr. Nola Adetola, CEO of Veritasi Homes and Properties Plc, characterized the project as a transformative addition to Lagos’ architectural landscape.
“By breaking ground on Allied Towers today, we are embracing new possibilities and reaffirming our commitment to impactful development. Partnering with COOPLAG, we embark on a fresh chapter in Lagos’ skyline, Nigeria’s housing sector, and Veritasi’s evolution,” Adetola remarked.
Reflecting on the company’s origins, he shared, “Eight years ago, we examined Nigeria’s real estate market and asked ourselves: How can we raise the bar? This question sparked the creation of Veritasi Homes.
“Driven by principles of integrity, innovation, and a customer-first approach, we launched in 2017 with a modest team but a grand vision: to deliver projects that consistently provide both value and quality shelter.”
“Our ambition is for Veritasi to become a global brand synonymous with excellence, innovation, and trust. We are privileged to have COOPLAG as our partner on this journey. To our investors and future residents, this is your chance to own a piece of Lagos,” he added.
Mr. Francis Adeoye, President of COOPLAG, emphasized the project’s importance and the shared vision driving it forward.
“Today marks more than just a groundbreaking; it symbolizes breaking new ground in cooperative strength and architectural brilliance. This is where innovation meets heritage, offering our members and stakeholders homes that mirror their aspirations, values, and successes,” he stated.
“This project embodies a collective dream to transform urban living and empower our community.
“For over 30 years, COOPLAG has been a pillar of cooperative resilience, financial empowerment, and community progress.
“Allied Towers, located in the heart of Ikoyi, represents more than luxury living; it stands as a testament to what visionary partnerships can achieve when committed to quality, sustainability, and community impact.”
“We extend our deepest gratitude to Veritasi Homes, under the leadership of Mr. Nola Adetola, for their professionalism and shared dedication. Their reputation for pioneering premium developments makes them the perfect collaborator for this ambitious project.
“Together, we are addressing the evolving demands of our members and the market by creating homes that offer security, prestige, and lasting value-properties that will endure as legacies for future generations,” Adeoye concluded.
During the event, Tobi Yusuff, Partner at Veritasi Homes, highlighted the groundbreaking as a milestone reflecting the company’s growth and its ability to secure trust from institutional partners like COOPLAG.
The project enjoys backing from a consortium of prominent financial institutions, including Nova Bank, Providus Bank, Lotus Bank, Stanbic IBTC, Sterling Bank, and FirstBank. Senior executives from these banks, present at the ceremony, pledged unwavering support, underscoring the development’s significance within Nigeria’s housing and investment sectors.
Prospective buyers and subscribers expressed strong confidence in Veritasi Homes and COOPLAG’s capacity to deliver Allied Towers on schedule and to the highest standards.
Temitope Runsewe, CEO of Dutum Construction-the project’s construction partner-affirmed that safety and engineering excellence will be paramount throughout the building process.
Veritasi Homes continues to lead Africa’s real estate market through its innovative, value-focused strategies.
Recognized by the Financial Times as one of the continent’s fastest-growing enterprises, Veritasi remains the sole Nigerian real estate company featured on this prestigious list.
In just seven years, the firm has completed over 1,000 homes, launched 12 landmark developments across Lagos and Abuja-including the acclaimed Camberwall Advantage series-and served more than 2,500 clients, many from the diaspora. Additionally, Veritasi holds dual ratings from DataPro and GCR, underscoring its financial robustness, credibility, and steadfast commitment to delivering world-class properties.
