Originally formed in 1879 as the United African Company, UPDC PLC has evolved into a real estate company focused on the premium market in selected Nigerian cities. It was incorporated as a public limited liability company in 1997 and listed on the Nigerian Stock Exchange. UPDC PLC's projects include Emerald Court, Grandville, Vintage Gardens, Festival Mall, Cameron Green, and Metro City. In August 2020, Custodian & Allied Insurance acquired a majority stake in UPDC PLC.