Oyo State Housing Corporation Partners Dastic Homes to Launch Ibadan's First Resort-Living City
200-unit Teni Gardens City debuts a Buy-to-Host model built to turn homeownership into monthly income across the South-West
The Oyo State Government, through the Oyo State Housing Corporation, has partnered with Lagos-based developer Dastic Homes Ltd to deliver Teni Gardens City — Ibadan's first resort-living community, and a new blueprint for what a home can do for its owner.
Rising in Ajoda New Town, the 200-unit development is a city within a gate: smart bungalows, a full-scale resort, and a thriving commercial village, all built around one idea — a home that pays you back.
Industry watchers are calling it a turning point, marking the shift from static estates to income-generating, lifestyle-driven cities.
Three pillars anchor the vision — Peace, Profit and Play. Residents get tree-lined streets and round-the-clock security; owners get a home that works while they sleep.
That income engine is the Buy-to-Host model, built on the logic Tesla applied to its charging network: put the asset to work when you're not using it. Owners can live in their homes or list them on the professionally managed Teni Gardens Hospitality Network for shortlet, long-let, and corporate rentals. The network handles cleaning, guest screening, maintenance and marketing end-to-end — owners simply collect the monthly payout.
Projected returns sit between 12% and 18% annually, and the first 50 Phase 1 subscribers get a full year of property management, free.
Location built for demand. Ajoda New Town was chosen for its trajectory and connectivity — Teni Gardens City sits just 7 minutes from Ibadan Airport, 25 minutes from the University of Ibadan and Bodija, and 90 minutes from Lagos via the expressway, placing it at the center of one of Nigeria's most active real estate corridors.
The centerpiece: The Lagoon at Teni Gardens — a 3,000 square-metre artificial beach with white sand, private cabanas, loungers and open water, engineered as both the resort's signature draw and its shortlet occupancy engine.
The city unfolds across three zones:
The Resort & Wellness Zone — Teni Resort & Spa with an infinity pool and full-service spa; a luxury gym with CrossFit zone, yoga studio, sauna and cold plunge; a 2-screen boutique cinema with a private screening room and weekly comedy specials; the 40-room Teni Gardens Boutique Hotel; Lakeside Lounge & Bar with live music and fine dining; tennis and padel courts; an agro-tourism farm; and the Teni Gardens Bicycle Club with dedicated cycling routes.
The Commercial Village — everyday life, without leaving the gate. Teni Mart supermarket; Food & Comedy Street, 15 curated food outlets anchored by the Teni Comedy Club's live shows; a 500-capacity Teni Event Center for weddings and conferences; a co-working and business hub; Teni Health Hub with pharmacy, mini-clinic, 24/7 on-call doctor and diagnostics; plus creche, banking and logistics services.
The Residential Zone & City OS — every bungalow is smart from day one: smart locks, full CCTV coverage, solar panels with inverter backup, and fibre internet. The entire estate runs through the Teni Gardens App — amenity booking, bill payment, maintenance requests, QR visitor codes and live rental-income tracking. Security layers a manned gatehouse, QR visitor management, ANPR plate recognition and active patrols. Residents also get a 1.5km Central Park with jogging track and playground, a free internal shuttle, and a solar micro-grid powering common areas.
Phase 1 offers 1-, 2-, and 3-bedroom + BQ smart bungalows from ₦35 million, with a ₦10 million initial deposit and flexible 12- and 18-month payment plans. Fully furnished, guest-ready units — finished to command stronger reviews and faster bookings on the rental network — are available at an additional cost.
Two more resort cities are already on the drawing board: Teni Gardens – Lakowe, Lagos, in the Lekki-Epe corridor, and Teni Gardens – Asaba, Delta State — extending the same resort-living, managed-income model into new markets.
About Dastic Homes Ltd
Dastic Homes Ltd is a Lagos-based real estate developer with over a decade delivering luxury and affordable housing across Nigeria's most dynamic markets. Its footprint across Lekki's prime estates includes the site-and-service megadevelopment Valerie Garden City in Epe and the acclaimed Lunar Hills series of luxury duplexes, among other benchmark projects.
The company is led by Dr. Bunmi Felix Olubamidele, a developer and smart-home systems specialist whose approach fuses technology, lifestyle and investment intelligence — building homes that are as livable as they are lucrative.
This partnership with the Oyo State Housing Corporation marks Dastic Homes' strategic entry into the South-West's emerging resort economy.
For site visits and enquiries:
Teni Gardens City, Ajoda, Ibadan, Oyo State
www.tenigardenscity.com | @tenigardenscity
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