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Bennett Oghifo

Bondd Homes, a hospitality-focused real estate company, has completed and handed over The Nove, a 10-unit serviced apartment development in Ibadan, marking the company’s first ground-up property development.

The project, located on Aare Avenue in New Bodija, was handed over to investors in June 2026, in line with the second-quarter delivery timeline announced when the development was launched.

The Nove comprises two studio apartments, four one-bedroom units and four two-bedroom units. The apartments were developed for serviced accommodation and include round-the-clock electricity, parking, CCTV security, fitted wardrobes and smart-home-ready fittings, among other features.

New Bodija was selected for the project because of its proximity to major institutions and commercial centres, including the University of Ibadan and University College Hospital. The area has a significant population of students, professionals, medical workers and visitors, providing a potential market for short-term accommodation.

“We said we would deliver by the second quarter of 2026, and we have,” said Samuel Akinyele, founder and chief executive of Bondd Homes. “The Nove is finished, it is handed over, and our investors are holding keys to a real, working building.”

The completion marks a step up in scale for Bondd Homes, which began with Lenido, a short-let apartment that the company says has recorded more than 600 guest nights. The Nove is the company’s first purpose-built development designed from the outset to operate as a hospitality asset.

The company’s model combines property development with short-let management. Investors own their individual apartments, while owners who opt to have Bondd Homes operate their units can use the company’s management services for bookings, guests, housekeeping and maintenance.

This approach is intended to generate income from the operation of the property rather than relying primarily on long-term appreciation or eventual resale of the underlying asset.

With the handover completed, Bondd Homes is now bringing the managed units at The Nove into operation, moving the development from construction into its revenue-generating phase.

“Delivering The Nove proves the model works end to end, from the drawing board to a guest checking in,” Akinyele said. “Now we do it again, bigger.”

The company has said The Nove is the first in a planned pipeline of developments. Its completion gives Bondd Homes a completed project against which it can build its next phase of expansion, while investors take ownership of the first development produced under its hospitality-led model.