Otunba Kamarudeen Adebowale is the MD/CEO of ShaffyKay Homes and Investment Ltd. He started real estate business over 20 years ago, after his short stint as a bus conductor and later as a printer. He went into real estate through his Uncle, when he told him he would be selling land for him and he should be given 10 per cent commission on each deal.
He is one of the biggest real estate players in the Eti-Osa axis. He has over 20 years of experience in the sector.
Presently, he has more than 7 estates around Lekki-Ajah axis that are currently selling at affordable rates and many of these properties have CofO’s. A few weeks back, City People duo, ISAAC ABIMBADE and ABIODUN ALAO, paid him a courtesy visit at his office and he opened up on how he started real estate 20 years back. He also told us what led him to real estate. Below are excerpts.
Let’s get to know you, sir, because many people don’t know much about you; your name Shaffykay
God is behind the name. I am Otunba Kamarudeen Adebowale Zulu. I am the man behind everything about Shaffykay Homes & Investment Ltd. People call me the brain-box behind the property firm.
Why do they call you the brain box?
It’s because I proffer solution to people, concerning homes/properties. When you tell me about what you can do or what you can’t do regarding properties, I am always there to guide you.
Tell us the meaning of the name Shaffykay?
Shaffykay is the combination of two names: my father’s name and my own name. My own name is Shafiriyu and Kamarudeen. I took Shaff from Shafiriyu and Kay from Kamarudeen. So the combination of the two is what I am using.
What does Shaffykay Homes really into and what do they offer?
We are real estate developers. I have a parcel of land at Sapati, Igbojia to be precise. I named the estate Splendid Garden Estate Phase 1. We also have another one at Origanigan, Ibeju-Lekki, it’s named Kings Garden Estate Phase II. We also have another one at Lekki Village, it’s called Success Garden Estate Phase 1. We have another one at Ita-Marun, Success Garden Phase 2&3. We also have land we are reclaiming, off Chevron Drive, It’s called King Garden Phase 1. We have another one in Ajah, on the road; It’s also a waterlogged land, but we have started reclaiming it. That one is named King Shaffy Estate.
How long have you been in the industry?
Professionally, this is my 20 something years. When I left school, there was no white collar job anywhere. Sometimes around 1994, we would trek from Amukoko to Ojuelegba, and sometimes to Oshodi searching for job, but we couldn’t get any. In 1993, I worked as a Bus Conductor, but I give God the glory today.
In 1997, I started another job at a printing press, doing calendars for some companies and individuals. I was also doing their complementary cards and so on.
I am from the Eti-Osa Local Government. That is where my father came from. When he relocated back home, he asked me to come over, on getting there I saw how my Uncle was buying and selling of land. So, I now asked him that, if I market your land how much will you pay me? He promised that he would give me 10 per cent. That was around 1999. I started this business around Oke-Ira Kekere in Eti-Osa Local Govt., here. I started selling for the family. I will sell for them and collect my 5 per cent and sometimes 10 per cent. That was how I sat down one day and I analysed it that, I could do the business. So, in 2001, I enrolled under my friend; he is a surveyor. I took the survey lesson as a land technician. From there, I started involving myself in surveying and community land; where they would give me land as compensation, instead of money. That is where I started getting land. Later, I started doing more of reclamation and clearing of land. That is how we hit it big.
How did that now transform into what we have today?
You know when you are determined to make it in life, you will go through so many reforms and processes. My Uncle happened to be an architect and some of my friends too. we would go to site together and that was how I had experience of building. So, I started getting a contract from the owners. I will get architects and builders to do the work and I will deliver, and from there I get my fund. I know that not all of us are destined to do white-collar jobs, what majority of us will eat is on our palms.
So, I started with estate development. I have lands that are designed for estate purposes.
Any regret in this job?
I will say no. The only regret is that there is no assistance from the authority. Most of us have a lot of ideas and experience but many of us don’t have financial backing.
What document do many of your estate have?
The one I told you at Igbojia, Sapati, has excision and CofO. The one at Chevron has been excised, we are processing the CofO. The one in Ajah, we are processing the CofO. The one behind PAN-Africa University has gazette. The one in Lekki has Gazette. The one in Oniganrigan has CofO.
What is your mode of payment plan?
We have an instalment payment. We have 2,3 months instalment payment. We have 1-year instalments payment. And Our new project is called the future plan, we will let you know when we want to launch it. This is a product that will address those who want to secure their futures. What that means is that, from secondary school, you can start investing in the project. It’s like you are planning that, in 20 years time I want to be in my own house. I want to be at my house immediately after university, so you start planning; you start paying for that land. If it’s the house you want, you can come to us. we will tell you the kind of house you need and you can start paying.
Tell us about some of your other plans in Canada?
Shaffykay in Canada is by the grace of God and also by one of my ambassadors. She is the one God uses for us. Presently, we are partnering a programme in Canada and we also partnered a real estate development company in Canada by which we can buy and sell property in Canada. If you need property in Canada, we will sell it for you.