The company creates a market for building materials merchants
A real estate company, M. I. Okoro and Associates, has announced its partnership with Polaris Bank to relocate 2,000 electricity and building materials distributors in Rivers State.
The founding partner of M. I. Okoro & Associates, Meckson Okoro, during a briefing to reporters in Lagos, said plans were underway to move traders operating in Okija, Port Harcourt to a new market in Iriebe .
Okoro said more than 2,000 members of the Electrical Material Dealers Association would be relocated to the new power market and building town with N5 billion mortgage financing from Polaris Bank.
Also, Senior Partner at M.I. Okoro & Associates, Dr. Innocent Okoro, said that of the 1,720 stores planned to be developed, 600 closed stores have been built.
He said, "The newly developed stores will soon be available for commercial activities as the developer continues to build other stores in stages to provide electrical dealers with a fully installed commercial environment at the new site, which has been named 'Promised Land' by the association.”
Okoro said that in addition to the 1,720 closed stores being developed, traders would have warehouses, where their goods would be stored for easy distribution to their customers.
He added, "In addition, visiting customers can load and unload goods at warehouses and transport them to different parts of the country.
“There will also be restaurants located at various convenient locations throughout the complex so that merchants and their customers can eat easily and save time.
"In addition to toilets in several locations, the electricity supply for the new complex will be a combination of solar and independent power supply from private sector-driven arrangements."
He noted that provision had been made for banking halls and other offices to support business operations in the Promised Land, which Okija lacked.
According to him, the main reason why Polaris Bank Limited has partnered with M. I. Okoro & Associates is to ensure that the move of the Electric Dealers Association to its permanent location becomes a reality.
Talking about the economic implications of the relocation, he noted that it would unlock the latent value of land and properties within and outside the immediate surroundings of the complex.
He said: "There would be an increase in terms of capital and rental value, as the presence of traders at the new site would act as an attraction for other businesses."
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A real estate company, M. I. Okoro and Associates, has announced its partnership with Polaris Bank to relocate 2,000 electricity and building materials distributors in Rivers State.
The founding partner of M. I. Okoro & Associates, Meckson Okoro, during a briefing to reporters in Lagos, said plans were underway to move traders operating in Okija, Port Harcourt to a new market in Iriebe .
Okoro said more than 2,000 members of the Electrical Material Dealers Association would be relocated to the new power market and building town with N5 billion mortgage financing from Polaris Bank.
Also, Senior Partner at M.I. Okoro & Associates, Dr. Innocent Okoro, said that of the 1,720 stores planned to be developed, 600 closed stores have been built.
He said, "The newly developed stores will soon be available for commercial activities as the developer continues to build other stores in stages to provide electrical dealers with a fully installed commercial environment at the new site, which has been named 'Promised Land' by the association.”
Okoro said that in addition to the 1,720 closed stores being developed, traders would have warehouses, where their goods would be stored for easy distribution to their customers.
He added, "In addition, visiting customers can load and unload goods at warehouses and transport them to different parts of the country.
“There will also be restaurants located at various convenient locations throughout the complex so that merchants and their customers can eat easily and save time.
"In addition to toilets in several locations, the electricity supply for the new complex will be a combination of solar and independent power supply from private sector-driven arrangements."
He noted that provision had been made for banking halls and other offices to support business operations in the Promised Land, which Okija lacked.
According to him, the main reason why Polaris Bank Limited has partnered with M. I. Okoro & Associates is to ensure that the move of the Electric Dealers Association to its permanent location becomes a reality.
Talking about the economic implications of the relocation, he noted that it would unlock the latent value of land and properties within and outside the immediate surroundings of the complex.
He said: "There would be an increase in terms of capital and rental value, as the presence of traders at the new site would act as an attraction for other businesses."
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