Allocation of Shops: Omoluabi Holdings Urges Subscribers To Be Patient

The Management of the Omoluabi Holdings Limited, a limited liability company owned by Osun state has appealed to the rent subscribers of the newly commissioned multimillion naira ultramodern mall who are unable to get shops allocation due to limited number of shops available under the first phase that are just been completed to exercise patience regarding the refund of their money that is a bit delay due to current lien being placed on the government account.

The Managing Director, Omoluabi Holdings Limited, Dr Tunde Faleye who made the appeal while reacting to a report where the company is accused of shortchanging and allocating the shops they had paid for to government officials explained that the allegations by the said media outfit is frivolous and far from the truth.

According to Faleye, those behind the report are hell-bent in tarnishing the image of the company despite the fact that they knew that the mall was built to boost the economy of the state and to be of utmost advantage to business owners and not to dupe anyone.

According to him, the subscription for the shops is in three categories namely: Outright Purchase, Ten Years Least and Annual Rentals.

He further explained that all the subscribers that fall into the first two categories that is (Outright Purchase and Least) were accommodated. This, according to him “was a joint decision between the company and the bank that financed the project. A total number of 63 subscribers fell under this catigories.”

He added that 40 subscribers
who happened to be the company tenant at the old facility were also given priority. This, he said, was in the fulfilment of the promise made to them at the commencement of the project.

“Of the remaining about 89 subscribers that were left, only 46 of them were accommodated, leaving 43 subscribers that yet to be accommodated. As we speak there are still some armful number of shops available due to the people that decided not to take the allocation as a result of where their allocated shops fell and we are also reallocating those shops to other subscribers that would be preferred to take them.

“The process of refund of the money is already in place. We have completed our due deligence on some tenants that already indicated thier intentions to get refund. The company has also made a public announcement in the media to inform subscribers that fall under this catigories to come forward with the details of their payment for us to prepare their refund.”

However, the Managing Director apologized for any inconveniences this development might have caused anyone, saying it’s not deliberate.

“I want to appeal to our people in the state to please exercise patience with us. They should also look at overall objective of the company which is to stimulate economic activities within the state capital and expanded income base of the company vis-a-vis the state.

“As we speak some of the subscribers that were not accommodated under the first phase have decided to wait for second phase.He also made it Know that anybody that fall into this categories would be first considered, adding that the facility procured from the bank to finance the project has already been fully liquidated

He thanked the people of the state for their support for Omoluabi Holdings and for patronizing their brands