Did you know FEMAB PROPERTIES is a mother company?
Here’s a list of our subsidiaries:
* HONGYANG DREDGING & SEAPORT CONSTRUCTION COMPANY LTD
* CRYSTAL BLOCKS AND CONCRETES INDUSTRIES
* ALLIANCE MORTGAGE CONSORTIUM LTD
* SHELTER FIRST ASSOCIATES LTD
Hongyang Dredging & Seaport Construction Company Limited is a division of FEMAB PROPERTIES LIMITED and is a prominent player in the dredging/marine industry. It produces and sells sharp sand for building to various contractors and builders and it engages in the evacuation of swamp materials. It also engages in complex dredging projects such as reclamation of swampy areas, canalization and provides support for major infrastructural development. We boast of 18-16inches dredgers with the ability to work at maximum capacity of 1,000mtrs. We engage in provision of marine equipment, while also specializing in stockpiling projects for construction of roads, bridges and housing estates. Hongyang also renders consultancy services in such areas as soil investigation, sand search, dredging and reclamation works. We have qualified, reputable, capable and seasoned expatriates onboard to ensure successful execution of projects we undertake, irrespective of its magnitude and cost. We are ever committed to providing high quality jobs execution to our various clients and the society at large. Hongyang is renowned for quality and timely execution of projects.
Crystal Blocks & Concretes Industries is a division of FEMAB PROPERTIES LIMITED, which produces and sells blocks for building to various builders and contractors. The block production sites are located at prime areas in Ikorodu and Lekki due to the nearness to the market, as various residential estates are being developed in these areas. The division has a total production capacity of about 40,000 units of blocks per week with a current capacity utilization of about 40%. Market is readily available as all production volumes are being sold. Sales are normally in cash. However in very rare cases credit sales could be estimated at below 5% and settlements usually take place within 4 weeks after sale. Major buyers are medium, corporate and individual building contractors within Lagos and Ikorodu. However over 50% of CRYSTAL BLOCKS production is being used by SHELTER FIRST AND ASSOCIATE for its various projects.