Railway property firm unveils N320m guest house

The Railway Property Management Company Limited (RPMCL), a subsidiary of the Nigerian Railway Corporation (NRC), has unveiled its first commercial guest house located on the premises of the NRC compound in Lagos.

The project worth N320 m was funded from the replacement costs of some of the NRC structures that were demolished to pave way for the new Lagos-Ibadan Standard Gauge to get into the Apapa port.

The guest house unveiled by the NRC Chairman, Engr Ibrahim Alhassan, is expected to serve passengers using the standard gauge and other members of the public.

The MD of NRC, Mr Fidet Okhiria, disclosed that the guest house would be managed by Ojez Group, a hospitality and lifestyle organisation, which emerged as the preferred bidder out of 30 firms that bid for the management.

Daily Trust further reports that prior to the construction of the Lagos-Ibadan

Standard Gauge, many properties on the right-of-way were demolished with compensation paid to legitimate owners.

The RPMCL was also compensated over the demolition of some of its properties; with the funds ploughed back into the guest house, which has 40 rooms, a swimming pool, a restaurant, a meeting hall, among other facilities.

The Managing Director of RPMCL, Mr Timothy Zalanga, stated that the project marked the beginning of “our new business strategy of focusing more on property development rather than just leasing of lands that limits our revenue potentials.”

Mr Zalanga lauded the Minister of Transportation, Mr Rotimi Amaechi, for approving the company’s request to revolve the assets.

He further said the company was working on the constructing of a new modem market at the Kaduna Junction Railway Station; another ultramodern hotel in Kaduna; a housing estate in Jos; a shopping complex in Port Harcourt, among many other projects.