Adeyemi Adeniyi is the Managing Director/Chief Executive Officer of Tromville Investment Limited, a real estate company that has carved a niche for itself, especially in the area of affordability. He studied Economics at Olabisi Onabanjo University, Ogun State. He then moved to Ladoke Akintola University of Technology, Ogbomoso to obtain his Masters in Public Administration. He is presently running another Masters in Business Administration (University of Northampton, U.K.). He also received an additional Diploma certificate in Marketing Management at Olabisi Onabanjo University and the Lagos Business School (a pan-African University) Lagos, Nigeria.
He is from Ogun State. He was born on the 19th of April to the Adeyemi Olowopariesho family.
He is a former celebrated staff of Propertymart Real Estate Company, where he was the first Head of Marketing, first Accountant, first Deputy Acquisition Manager with the MD, first Personal Assistant to the M.D., first Head of Propertymart fellowship Incorporated International Pioneer Branch Manager of Propertymart Investment Limited in Abuja. He was one of the leaders in the acquisition team that saw to the Birth, pre-delivery and delivery of 6 estates in Nigeria. Amongst this is the 1st fully delivered Grenadines Homes terraces in the Lifecamp area of Abuja.
He is a businessman with the major interest in Real Estate, Public-Speaking, and Construction.
A few weeks back, City People Senior Property Reporter, ISAAC ABIMBADE spoke to him about his success story.
What is Tromville Investment all about?
Though my name is Adeyemi Adeniyi, I am addressed as the No 1 Bishop of Real Estate in Africa. By the grace of God, the MD of Tromville Investment Limited. Part of what we offer is purely affordable homes, and affordable housing. Our vision is to make housing affordable for the people and for our name to ring a bell in the minds of people in the year 2019.
Majorly, what we do is just to parkage an estate, give it a name and sell to the members of the public at affordable price. But majorly, our vision is targetted towards helping the youth, especially those who never thought they can own anything in their entire life when it comes to property. The youth corpers, the people who want to buy property in the name of their children and anybody who is a beginner; you just got married, you want to start putting something together to own your first home. Those are some of the people we are targetting our vision toward.
When you started this property company, what were the things you set up the company to tackle and how far have you gone?
Not all, you know there is a lot of challenges in the nation but we can’t separate the challenges from the company because we are still operating in the same nation. Nevertheless, in the short year of our operation we have been able to deliver to many people in the area of affordable land/housing. As a matter of fact, we are the one begging them to come and build. We want God to use us to open the eyes of our people, that you don’t need a million naira to start building a house.
Would the company be able to achieve what it set out to achieve in the company’s vision statement by the year 2019?
Yes! By where we are, sincerely it is achievable for us. If you check, many companies that started like we started are no where to be found. We are not only acquiring land. Where our strenght lies is in documentations; processing of documentation of our properties and God is granting us speed. A few days ago, we got a release of our CofO of one of our estates and many companies have gone ahead 10-15 years but documentation doesn’t count to them. In as much as we want to give it to members of the public at affordable rate, we also want secure properties for them. So it’s achievable.
What are your strategies to sell some of your properties?
Majorly, we do one on one marketing; we go to knock on their doors, that this is who we are and this is what we do because to a large extent, people are tired of this bulk SMS thing and people love what they see. I went to do door to door in the US in August this year and seeing me talking to them builds their confidence; that they can do something with us and many people are still coming for inspection. Aside of our on-line sale, one on one has worked for us because it gives confidence to our subscribers.
A lot of people say they are selling at affordable rates! What is the meaning of affordable to you?
I remember in the year 2010, I was pirivileged to represent Property Mart Real Estate Investment, the company that gave birth to Tromville Investment Limited but we are autonomous now; we are on our own now. The company sent me on “an errand” to Florida, USA (Orlando to be precise). Whilst I was there, I was privileged to meet most movers and shakers of real estate world in Nigeria and I gave a speech on affordability, but I was shut down by the people.
They asked me if I was there to make money or be poor; that I am a young guy; who am I to be talking affordability? But I remember that night, a couple called me out from the hall and told me that because of what you have said and because of the reaction you got, God sees your heart and he wants you to make people who don’t have a roof over their heads have a roof and they told me that I shouldn’t worry; that my dream would come to reality.
I didn’t know how it would come to pass because I was still working with someone. I didn’t even have the plan to exit anytime soon but I was amazed that 3 years after, the opportunity of Tromville came; that you have served well; I want you to go and stand on your own and with some people whom you have worked with to be your business associates and that was what gave birth to Tromville. And that dream of that night (affordability) has not changed.
If we can be selling a plot of land for as low as 1,000 naira per square metre and we are saying the minimum you can buy is 200 metres, which can easily do you a 3 bedroom bungalow and you can still park 2 cars. I think that is affordable enough. Where you pay 50,000 naira initial deposit and the rest of 150,000 naira can be spread for 12 months.
Where do you have these properties?
Where I just mentioned is at Agbowa in Ikorodu. Also, we have one in Ibeju-Lekki and it’s very close to the major estate in Ibeju Lekki, (Amen Estate). We also have another one at Agbara and a whole lot.
How did Real Estate business start for you?
For me, I actually prayed about it! I loved what I was doing before. I was into communication business. I was running a cyber-cafe before now and I was selling GSM’s acessories. I was comfortable in my own definition and I could afford to employ people but when it came to making a choice, I discovered my passion for real estate and how God wanted me to go into it at the point of my youth service in 2008. My service was a bit delayed but I wasn’t worried because my business was doing well at that time. So, it wasn’t a challenge for me.
I had the opportunity to choose between working in the bank, or working in the Telecommunication Company or any of the distilleries but the real estate was the least. So, I put it to God in prayers, supported by my Pastors. God chose real estate and said that’s what I wanted you to do.
Who is the man behind Tromville Investment Limited?
Adeyemi Adeniyi is my name, the number one Bishop of Real Estate in Africa. I have two associates who are active directors in the same company. I was born to the family of Olowopariesho in Ijebu Ishiwo, Ogun State. I studied Marketing on my diploma level and I went to Olabisi Onabanjo University, Ogun State for my B.Sc. And afterward, I went to LAUTECH for my Masters. Presently, I am running another masters in business administration in one of the foreign institutions. I have attended different trainings and I am exposed to many symposia and seminars on buildings.