The Nigerian real estate industry is about to experience massive investments from the overseas, as foreign investors have expressed their interest to pump money into the rapidly growing sector.
Some foreign investors, who are seeking new opportunities in Nigeria, said that their interests in the country’s real estate sector were reignited by the growth of the industry. They made this known at a recently-concluded construction exhibition in Lagos.
According to the Portfolio Director at DMG Events, the organisers of the exhibition, Muhammed Kazi, companies from over 20 countries such as China, Egypt, France, Greece, Germany, Italy, Saudi Arabia, Turkey and the United Arab Emirates had indicated interest to invest in the Nigerian market.
“We believe this is a great success and a clear indication of the country’s growing attractiveness in the global construction arena,” he said.
The General Manager, Sales and Operations of the United Arab Emirates-based Grannitto – Al Khaleej Ceramics, Siva Gopal, also indicated that it had become important for his company to do business in Nigeria.
He said, “As per the information received through various media, investment in real estate is more stable compared to any other business venture in Nigeria.”
More so, the Marketing Head, Abdullah Al Barrak Factory for Plastic Products, Mohammad Aslam, said the country’s economy was growing, and the growth was expanding across all sectors.
Aslam’s words: “We will contribute our services towards the growth and development of the Nigerian construction market. The ABPF polycarbonate sheets have an ideal solution for a wide range of applications in construction, industrial, commercial and domestic segments.”
What you should know: The country’s real estate sector is not static. The industry is steadily advancing with investment approaches, evolving around market demands, investors’ choices and trends.
Although the real estate sector was sluggish last year (2018), there are indications that the sector will experience a vast growth this year as the country’s economy has started gaining stability.