The minute you meet Chief Oladapo Atinshola for the first time, you will immediately get to know that he is a man who is very modest, sincere and transparent in his dealings with people. He is a very straightforward and pragmatic person who will not make promises he can’t keep. It is with these principles in mind that he set up Willet Nigeria Limited almost forty years ago. The company was basically a building and civil engineering company which served as a contractor to the state government. As a qualified Civil Engineer, for several years, he was extremely busy building dozens of houses for the Lagos state government. Even as age started to slow him down, he still could not ignore his passion to go into the real estate business and provide affordable housing for people. And he wanted to achieve this without compromising on the quality he has been used to providing as a qualified Civil Engineer. This was what gave birth to Willet Homes Limited and Harmony Garden City. Willet Homes was set up to provide beautiful affordable homes while Harmony Gardens City provides affordable and secure lands for its teeming customers.
As a trained Civil Engineer, the CEO, Chief Oladapo Atinshola ensures that all of their structures are constructed with quality materials and with top-notch finishings as well, which is why Green Gate Park, one of their flourishing estates is doing very well in Simawa. They have properties in Simawa, parts of Lekki and Badagry as well. In this interview with City People’s Senior Editor, WALE LAWAL (08037209290) the very amiable and unassuming Chief Atinshola who rarely grants interviews, opened up on how he started out as a Civil Engineer decades ago and how he set up his modestly flourishing real estate firm, Willet Homes Limited.
Tell us, sir, how did the whole idea to start your own real estate company start?
Well, to begin with, I’m a qualified Civil Engineer and a building contractor. All my life I have been a builder. My first major company, Willet Nigeria Limited was incorporated in 1974 and through the company, we have been able to build various houses for the Lagos state government and other parastatals within the government. But Willet Homes Limited came into existence as another integral unit of Willet Nigeria Ltd to differentiate the Homes from the Civil engineering or contracting company. Willet Nigeria Limited is purely a building and civil engineering contracting company. It gave birth to Willet Homes. After a while, having been at home not really doing much as a result of age, I decided to go into the real estate business, which is the only thing I know how to do best. And Willet Homes Limited was born. I started by acquiring some lands. We have three locations in Simawa and some other places.
For someone who had been into civil engineering and building contracts, how was it for you starting off Willet Homes without massive bank loans after taking a break for a while?
Well, it was not so difficult because I made up my mind we were going to start small, with no bank loans or investments from anywhere. It’s a family business, and most of the directors are my children. Because age is not really on my side, I had to develop short-term plans, and that has been my approach. Back in those days, contractors were able to make good money from the profession. So, from my earnings, I had a couple of properties along with some other investments and I put everything together and was able to start my real estate business. So, the civil engineering company and my serving partners with an American company worked together in the business. But Willet Homes is basically for estates.
So, between when you started and now, how would you access your performance so far?
It’s a gradual process. We are developing gradually and taking things one step at a time. Owing to the prevalent economic situation in the country, real estate business is not really what it should be. But at Willet Homes, we are holding our own, making our own little progress and focused on becoming even bigger within a short while from now.
I know you have Green Gate Homes in Simawa, how has the competition been for you, especially in Simawa, particularly where there is a huge competition?
Yes, you are correct. There are plenty of real estate companies with a heavy presence in Simawa. There is indeed lots of competition but we are not competing with anybody. We are focused primarily on doing our own thing within our own financial capabilities. Competition is good but it doesn’t dictate for us how we will manage our own business and run it.
A lot of real estate practitioners are complaining that the government is not supporting the business enough, that the taxes are too heavy and levies from the state and local governments never stop coming, how have you coped?
Well, like I said, we are only going at our own pace. We are taking things one step at a time. We have not gone to the banks to request loans. I do not have an issue with anyone taking loans, but my fear is that the economy is not that stable. I don’t want to take a loan we will be struggling to pay back. Like I said earlier, ours is just a small family business, we have been in the business for the past 40 years. We will try to do our bit and avoid incurring debts so the business can stand the test of time and others can continue from where we stop.
For someone who has spent years in Lagos as a building contractor, what has your experience been, comparing how things were to the present time?
I can tell you a lot about the business in Lagos, I am a Lagos man. I have lived all my life in Lagos. The business is lucrative, the only problem is that the economy is bad. With a bad economy, there is little you can make from housing projects. It is only when people are finally buoyant that they can afford to buy land and build houses.
What was the real estate business in Lagos back then like, compared to now?
Okay, I must say it was booming then. I was a successful building contractor and I got lots of jobs from the Lagos state government. Things were really booming then until the economy began to nosedive. These days, industry practitioners have to go and look for heavy loans and investments to survive.
Is it just the economy that’s the problem or there were a few things the sector was enjoying then that it no longer enjoys?
Funding. The sector enjoyed a bit of funding then. But these days, the real estate sector is not properly funded by the state government. Once the sector is financed and you have the money, you can do virtually anything you want.
Let’s talk about some of your products, I mean your ongoing projects and the ones you have sold out?
We have actually been selling more lands and acquiring more lands. This is the area where we have been more prominent in the business. That’s why we have a very heavy presence in Simawa, in Ogun state, in some parts of Lekki, Badagry etc.
What has the reception been to the various homes you have been able to complete?
The reception has been wonderful. People appreciate our homes so much. I guess it’s because of the quality. As a qualified Civil Engineer, I know the importance of building a house with quality materials. I know the importance of applying quality materials to the finishing of a house. So, this is one of the things our clients admire and trust about our products, they know it will be done with quality because we don’t compromise on quality. We have lovely houses in several areas as well. We also have branches in the United States and in London.
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