The Managing Director of M & E Kaiser Limited, Jamila Faniyi said that the manufacturing sector, healthcare and entertainment have received major investments in their real estate.
Speaking at the just concluded Nairametrics March Outlook event themed “How to Succeed in Nigeria’s Real Estate in 2024 – Challenges and Opportunities in a High-Cost Environment,” on Saturday, March 9, 2024-She said “Manufacturing, healthcare and entertainment centers are notable areas having increased investments in real estate”.
- Citing examples she stated- “There’s a whole lot of renovation and construction in entertainment facilities like the National Theatre to high standards.
- “There is ongoing rehabilitation of the Lagos-Ibadan Expressway. Over the past six months, there has been tunnel construction on a highway, aiming to enhance infrastructure and provide access to various locations. The digitization of landfills, similar to Abuja’s GIS system, is in progress, indicating a positive direction for other states to follow.
- “COVID showed we had a huge healthcare gap, but recently there has been an improvement in healthcare infrastructure in the country by the government”.
She also drew attention to the newly commissioned 12,000 capacity sports and entertainment arena by Lagos State government.
Key highlights
Faniyi expressed concerns about the rising exchange rates, suggesting that interventions by the central bank may temporarily halt unwanted increases.
However, the effectiveness of these measures remains uncertain. The speaker emphasized the need for a comprehensive approach to address economic challenges and highlighted opportunities in the real estate industry, where strategic investments and long-term planning could contribute to economic growth.
In response to a question about opportunities in the real estate industry, she acknowledged that despite challenges such as rising input costs, there are still opportunities for economic growth,
- One of the speakers, Obinna Onunkwo, the Deputy CEO of Purple Real Estate Company said that “every single sector in the economy needs real estate. Every sector in Nigeria needs brick and mortar to facilitate their activities, that’s real estate.”
Both experts agreed that the real estate sector plays a crucial role in economic development, and investors need to approach it strategically.
