Security conscious-generated needs for safety and privacy added new dimensions to innovations in housing construction and home delivery in Nigeria’s real estate industry in 2022.
The housing market helped to fuel economic recovery at a growth of 6.2 percent in the final quarter of 2021. New entrants and existing players, excited by lingering strong demand in the housing market, widened the inflow of investment capital into the industry.
The big names in the business all seem to have come to homogeneity when it comes to infrastructures, comfort and luxury in modern homes. They began stepping up security devices over the last one year in response to heightened security challenges across the nation.
It became compelling for estates to gear up their security architecture, which was reinforced by government policies such as Federal Capital Territory’s imposed mandatory security measures on estates.
Resort to enhanced security features in real estate has been prompted by the need to ensure that the comfortable and livable environments being developed by the army of commercial real estate developers are also void of security breached and deadly terrorist attacks that have become prevalent in society. The extent of security afforded by an estate has begun to feature more prominently among the marketing offers of developers.
Apart from security, rising inflation posed a big challenge in the real estate industry by way of considerable increases in the cost of building materials. The development tended to decimate completely the already thinning ‘affordable homes’ market segment. Some respite however came from some developers who made new advances in building materials and technology and largely contained the inflationary impact on building costs.
Despite the challenges, rapid urbanisation kept the demand pedal of Nigeria’s real estate industry accelerating. The supply side responded positively with sustaining investment inflow in pursuit of superior returns and defence against inflation. The operators rode at the back of the resulting high growth momentum to raise their stakes and build new capacities in the business.
Great advances continued to be made in many quarters in what housing developers can offer in new solutions in construction technology and modern home and living environment improvements. The concept of build quicker, cheaper and smarter has gained further momentum in 2022.
Our top 10 real estate disruptors, 2022 stand out among estate developers for outstanding housing development projects rolled out, huge investment capital injections that spring large employment deliveries and innovations in technology and building materials and techniques that sustained delivery of affordable housing stock endangered by inflationary pressure.
They employed innovative investment options and flexible payment plans, which have helped to preserve the market segment for low and middle income earners who otherwise would have dropped off the demand side of the market, as building cost soared.
Some of the top 10 members are recognised for devising new ways of optimizing the use of available space to accommodate varying needs for residential homes, office, retail businesses, services and leisure, making it possible for people to save themselves the cost, time and inconvenience of having to meet these needs and services outside their domains.
Among them also are real estate developers who have attained new milestones in housing development research to reflect new understanding of the functional and complementary needs of the customer into scheme concepts, design and finishing. The end result is personalized home ownership that reproduce customer taste and preferences in their living homes and surrounding environments.
Also in the group are the value creators and cash flow generators that keep the real estate industry as a major destination of investment capital. They are the producers of amazing testimonies in real estate wealth creation and delivery – that make investors keep investing and newcomers keep coming in from year to year.
Bisi Onasanya: Chief Executive Officer, The Address Homes Limited
Dr. Bisi Onasanya, chief executive officer, The Address Homes Limited, presides over a company that has come to the limelight in Nigeria’s real estate industry within a short space of time. The former banker, who retired from First Bank of Nigeria Limited as group CEO, has within a space of five years, built a real estate outfit that controls a large chunk of the real estate portfolio on the burgeoning property market of the Lagos Island.
The company engages in the acquisition, development and management of luxurious contemporary homes with major stakes in the Ikoyi, Banana Island and Lekki axes – the acknowledged abode of the super rich. He is counted among the earliest and biggest property developers to arrive in Banana Island.
The company has successfully delivered numerous contemporary homes in the Ikoyi area and continues adding to the list in its mission to change the face of real estate market in Nigeria with a combination of taste and class in contemporary architecture and home finishing.
At The Address Homes, Onasanya is out to develop and deliver homes that combine high class contemporary architectural designs with exceptional finishing.
Among his company’s major property developments is a 30-unit apartment in Lekki that features a model that is a replica finishing of the company’s new design from one of its Ikoyi series. The fully serviced estate is planned to offer benefits of good access roads, 24-hour electricity supply, security, gym and communal swimming pool. It also offers basketball court, club house, mini event centre, children’s play area, drainage facilities and landscape.
The Address Homes also has two show-homes at Femi Okunnu area in Lekki, designed to give residents a taste of the company’s lifestyle home designs. The company equally plans to launch its Lagos mainland estate development series in Opebi, Ikeja as well as Diplomats Village in Abuja.
The company promises its standard mark of quality in all of its housing developments, encompassing modern living and the elegance of contemporary style architecture. Its desire is to give its clients access to excellent, modern living styles, viable investments coupled with industry leading post delivery services.
Recently, the company announced the introduction of two new housing brand schemes for the Ikoyi housing market -Luxuria and Dan & Dan, featuring a combination of high-class contemporary architectural designs with high-level finishing. The construction of the two deluxe contemporary homes commenced in 2021 and is expected to be completed in 2023.
Located in the region of Lekki Ikoyi Bridge, Luxuria springs a two-tower masterpiece of 14 suspended floors, comprising 4-bedroom apartments, 4-bedroom maisonettes and massive penthouses measuring about 1,000 square metres each.
Other features include lawn tennis court, swimming pool, well equipped professional gym, parking spaces, two fully fitted modern kitchens, dining room, long views through spaces, maids room, innovative lighting system, balcony and smart home system.
The Dan & Dan Apartments is a fully serviced mini estate located on the Ikoyi waterfront. It comprises 27-unit apartments, which include penthouses marionettes and terrace houses, all coming with four bedrooms each plus servant quarters.
The design of the estate includes access to private jetty, swimming pool, 24-hour electricity supply, security with CCTV, dry and wet kitchens, gym and more.
Speaking on the two new projects, Onasanya declared that his company’s mission is to deliver unique services with modern functional homes to make clients live better than hitherto and in luxury.
“In creating these luxury homes, we took into consideration the need for space optimization, comfort, security, child-friendly environment and quality of materials. At The Address Homes, we build homes with clients at the core and heart of our processes,” he stated.
The company’s strength to deliver top of the range homes in design and style lies in its knowledge and experience that range from packaging one-off residential investment properties through to multi-millionaire property investment portfolios. It therefore welcomes a wide range of home ownership dreamers and investors to its fold.
The strategy is to build the best homes at the most economical prices across Nigeria and thus deliver optimum value for money. The strategy runs on dedication to quality and custom-tailored homes deliveries, which has made The Address Homes unique in the property development business.
Its concept takes account of every customer’s taste and budget, time frame and market environment as well as the opportunities available. It follows a pragmatic approach in solving problems, prioritizing its customers’ specific needs in the real estate market.
“We evolve concepts that take account of each customer’s taste, budget, time frame, market environment and the opportunities available. We take a pragmatic approach to solving problems, prioritizing our customers’ specific needs in the area of real estate” the company stated in its profile.
The Ijebu-born accountant and banker turned home builder, trained at then Lagos State College of Science and Technology where he finished with HND accountancy. He began his career with Arthur Young, an American audit firm and qualified as a chartered accountant at the age of 22 years.
He began his banking career at Wema Bank and branched off to First Pension Custodian, then a subsidiary of the First Bank Plc, where he became chief executive officer. Onasanya is credited with pioneering initiatives in Nigeria’s pension custody industry, which helped define best industry practices.
He later joined First Bank where he rose through the ranks to attain the pinnacle of banking as group managing director/CEO of the bank in 2009, a post which he held till 2015.
He is a fellow of the Institute of Chartered Accountants of Nigeria, a Member of the Chartered Institute of Bankers of Nigeria and an Associate of the Nigerian Institute of Taxation. He has served as a member of the Chartered Institute of Bankers’ sub-Committee on Monetary & Fiscal Policies and of the Presidential Committee on Reduction of Interest Rates.
Emmanuel Udechukwu: Founder and Chairman, SDD Properties and Roxbury Leisure Homes Limited
Chief Emmanuel Udechukwu, is founder and chairman, SDD Properties and Roxbury Leisure Homes Limited, where his vision of building one of the most reputable real estate brands in Nigeria and beyond, has spanned over 11 years with great accomplishments.
He is counted among real estate developers, who have shaped the burgeoning real estate industry in Nigeria. He is in charge of a firm that provides high quality but affordable real estate services in Lagos, Abuja, Kano, Rivers and other parts of the country.
“My focal point and vision is building, expanding and investing in lives of people by ensuring that affordable and comfortable housing is available for the less privileged and low salary income earners,” he said.
Udechukwu, who hails from Anambra State, is acknowledged for leading the biggest property developing company in VGC, Lagos State. He is honoured in his home state for his commitment to put in his best in addressing the problem of housing deficit in Nigeria.
“I think it is a thing of pride to our people that an Igbo man from Anambra state is developing the biggest estate in that area (Lekki)”, he said.
He is honoured in the north for his nationalist orientation that earned him the reputation of a detribalized entrepreneur. He is respected for his firm belief in the Nigerian economy, which is evidenced by his investments in almost all the key sectors, creating jobs with his group of companies and shaping the future of young people through mentoring in the real estate business.
His accomplishments have earned him the reputation of a trailblazer and a successful entrepreneur whose giant strides in the real estate industry are read as an indication that Nigerians can prove their mettle in any endeavour they choose to play in.
Roxbury Leisure Homes offers a full range of real estate consultancy services to both private and public clients. Udechukwu stated that in the 11 years of his company’s operations in the real estate industry, “we have sold over 1500 properties and still have about that number waiting to be disposed of and still developing new projects across the country”.
A real estate guru and philanthropist, Udechukwu, has over the years shown outstanding leadership qualities in elevating the quality of living homes and environments of an average person in Nigeria, breaking boundaries and contributing a huge quota in finding a worthy solution to a national problem of housing deficit.
At Roxbury Leisure Homes, Udechukwu is driving the vision to offer full range of real estate consultancy services to both private and the public clients such as real estate development, property management, estate agency, asset valuation, facility management, feasibility & visibility studies, among others.
He assures of innovative solutions that redefine luxury and lifestyle in living homes and environments. Operating from Ikota mixed development area along Lekki-Epe highway in Lagos State, the company stands its ground as an experienced real estate/property development force that features the best residential and business properties on offer.
Udechukwu heads a dynamic team of professional developers with proven technology, rich resource of experience and unique insight into property market, through the sheer volume of properties available for lease, let and outright purchase.
Roxbury Leisure Homes makes a commitment to its clients to stand continually on the foundation of trust, take every step necessary to understand its clients’ housing needs and deliver high quality services from conception to execution.
It counsels that investing in property is the way to go because it is an investment that beats inflation and naira depreciation, with a chance of reaping up to 70 percent return. The company is out in search of people desirous to build their dream homes and is offering its payment planes to help take them to the world of luxurious leaving.
The company maintains a track record of serving its clients with professional, cost effective, dependable as well as efficient physical infrastructure systems as it strives towards its goal of being a world class real estate development firm.
Benjamin D. Akhamere: Founder and Managing Director of DreamCity Group
Mr. Benjamin D. Akhamere is founder and managing director of DreamCity Group, a conglomerate of companies with diversified interests in real estate development, civil works, mining, manufacturing and hospitality. The Group is structured to achieve integrated operations from specialized entities in the key segments of the business. These include Substantial Construction Company Ltd, DreamCity Property and Investment Ltd, DreamCity Interior Ltd and DreamCity Ltd.
With extensive knowledge in planning, building and civil engineering amongst others, Akhamere has placed DreamCity amongst the leading and dependable real estate developers in Nigeria. The group is based in Abuja from where its estate development operations have spread to Lagos and Oyo States, Warri in Delta State and Benin in Edo State.
At DreamCity Group, Akhamere is on a mission to create exceptional real estate portfolio that guarantees high returns on investment, value for money and long term financial security.
The Group undertakes the development of both commercial and residential housing projects. It boasts a number of housing estate projects both completed and ongoing – that come complete with a promise of high-class infrastructures, satisfactory living experience and continuous value appreciation.
DreamCity Group is keen to ensure that its estates are situated in strategic and secured locations surrounded by developed neighbourhoods with valued-added advantages, which include ample internal and external spaces and well-developed infrastructures. The company insists on high quality standard building materials in order to achieve durability with very low maintenance cost. It is betting that its clients are sure to get value for every penny invested in purchase of its housing units.
The company’s assurances of high quality building materials, durability and low maintenance cost of its buildings draw from its active involvement in bulk importation and direct sourcing of construction materials from local manufacturers.
The company’s commercial projects are designed to offer attractive investment opportunities such as owning a business space (shop) in shopping malls and also a suit in hotel apartments. The company promises guaranteed return on investment of 100 percent on commercial property investments within 8 to10 years inclusive of 10 percent maintenance cost.
Apart from value creation through high returns on residential and commercial investment packages, DreamCity Group also offers contemporary design concepts in architecture and project consulting services that range from project planning to completion. Project consulting services include cost budgeting, civil designs and stage by stage advisory necessary for a successful project.
Akhamere’s business prowess in the construction industry started under the auspices of Dibrom
Engineering Company, a sole proprietorship enterprise he registered in 1993. This was followed by the incorporation of David Akhamere Investment Ltd in 2006.
His effort in propagating the enterprise attained a milestone in 2001 when he partnered with Same Global Systems Ltd (the first real estate development company to open-up Dakwo District in Abuja) as their primary contractor trusted with the construction of several housing units. These include duplexes and blocks of flat, all of which were successfully completed and handed over to the respect allottees.
For Akhamere, business successes led to new visions and bigger dreams, which found an expression in 2010 when he restructured the company for greater reach and bigger impact. He was prompted by a strong desire to fulfill significant long term goals in critical sectors and industries, which include civil construction, real estate development, mining, electrification/energy, production and manufacturing.
The insight gave birth to the brand name DreamCity Group, which has emerged as a conglomerate of companies and businesses with interests in sectors and industries that have enabled an integrated business strategy. The diversification has paid off in terms of an extended field of expertise and experience the Group has built in estate development (planning), civil engineering, mining (quarry) and electrification.
The company’s diversification strategy was to keep real estate development as the core of the business but to broaden the base of the operations across the real estate value chain. By deepening the operating base, the Group builds in considerable economies of scale benefits that position it to deliver wealth creating assets to its clients on a continuing basis.
Civil works form a major part of the company’s housing projects in respect of which a construction arm of DreamCity Group – Substantial Construction Company and a sister company, DreamCity Property and Investment Ltd – were formed. The two companies undertake all construction and civil works in DreamCity estates.
DreamCity Group ranks high in cultivated professionalism and adaptability through the ever challenging economic and industrial conditions in Nigeria. The Group has also invested largely in construction equipment and human capital development – which have powered the fulfillment of its project commitments.
Akhamere’s vision is to be the leading real estate development and construction firm in Africa, delivering customers’ dreams by building the highest quality residential, and commercial properties around. His business leadership skill is ably supported by a highly experienced team of directors and senior managers, who have attained commanding heights in the real estate and construction industry. The company’s sound management and technical teams are recognised as the critical success factor in its enviable record of delivering on promises to clients.
The Group also provides mortgage financing options for its projects through its partnerships with Federal Mortgage Bank of Nigeria and other mortgage institutions. It also offers National Housing Fund loans at single digit interest rates in its contribution towards affordable houses for civil servants.
Munachino Obinna: Chief Executive officer, Muna Real Estate Limited and Chairman, Millennium Group
Eze Munachino Obinna, chief executive officer, Muna Real Estate Limited and chairman, Millennium Group of Companies, is an expert in property investment and management. He conceived the vision of creating wealth across a network of operating entities in 2019, which birthed Millennium Group of Companies in 2021.
Millennium Group houses six main operating arms that include Muna Real Estate Limited, Millennium Trade Solutions, Millennium Concierge, Millennium Maestro Atelier, Millennium Entertainment and Millennium Couture (corporate fashion).
The group operates across seven countries where its multinational real estate companies (Muna Real Estate Limited and Millennium Trade Solutions Limited) have established extensive operational footings in Africa, England and Wales, including major projects in Hong Kong.
The group has a presence in key sectors and industries, including private equity investment, architecture, tours and travels, real estate, construction and infrastructure development. It promises specialist services in sourcing, acquiring, managing, and maximising the potential of local and international property investments.
At Millennium Group of Companies, Obinna is bringing into reality the vision drawn from his educational background in architecture. He is a top notch expert in management consulting, real estate investment analysis, coaching and property analysis, sales and project management, among others.
Through the highly skilled role, he has acquired a solid base upon which he promotes a good number of profitable property investments on a continuous basis. He is well grounded when it comes to where to invest in the international property market. The game is paying off in terms of the number of people he has assisted to get on the track to financial freedom through innovative real estate portfolios he created to connect people to positive cash flows.
Millennium Group holds a rare record of having handled a large number of industrial, distribution, manufacturing, office, retail, recreational, healthcare and commercial projects across Nigerian states and across borders. These include major projects in Abuja, Enugu, Imo, Awka and Hong Kong.
Its mission to create wealth and financial freedom is accomplished by developing innovative and practical solutions for its clients. The company’s strategy is to create vital partnerships with clients focused on delivering value-added services. In every engagement, it is driven by the objective of exceeding clients’ expectations and gaining their trust through exceptional performance standard maintained across the group.
Obinna ensures that his able leadership of Millennium Group has a dependable support of a management team, which comprises highly experienced professionals, adequately equipped to anticipate clients’ needs and respond promptly and professionally on demand.
This provides the enabling platform for the company to build long-term relationships with clients sustained by excellent, high quality and timely services. The CEO’s team leadership that involves employees in the quality improvement process to ensure responsiveness and cost-effective work execution, is counted for him in management quality.
Obinna firmly believes that everyone can ride safer on the back of real estate investing into financial freedom than anywhere else. He is therefore sending out the message as loudly and widely as he can with the mission to set everyone on the path to financial freedom one client at a time.
“To have access to the best things constantly one needs to be financially
free. Financial freedom comes from passive income and the safest passive income source is real estate investing”, he said.
In his effort to pass on his message of financial freedom through real estate investing, Obinna has successfully hosted Real Estate Formula 1.0 Conference – the largest real estate conference in Africa. The conference, which brought together over 1000 international real estate billionaires from different countries of the world, was designed to enlighten, train and certify a large number of real estate investors for new impacts.
First-of-its-kind in Nigeria, the conference stands out as a major contribution by the Obinna’s Millennium Group to drive real estate investments in Nigeria as a counter cyclical force of growth and development, moving against economic difficulties and regulatory challenges facing Nigeria. It availed the nation a great opportunity for active professional networking and interaction, which is recognised as a vital ingredient for career growth in the real estate business.
The Group has launched a grand project in Enugu tagged Millennium City, which is championed by its subsidiary – Millennium Trade Solution Limited. The project sprang forth from Obinna’s study of Challenges Facing the City and the Urgent Need to Build a New City: A Case Study of Enugu.
The new city project has been inspired by his vision to add value to society and resolve housing and infrastructure problems in the south east of Nigeria. Following the manner in which United Arab Emirate turned a desert into a world-class city, Obinna has set out on a mission to turn the existing Enugu city into a more efficient and conducive living environment.
His dream is a new Enugu City that is functional, free of its present challenges and desirable for people to live and work in. He explains that the need for a new and more functional city is to address the challenges of inadequate infrastructures, pollution, bad roads, insecurity, traffic congestion, lack of water and electricity, among others.
(Nigeria’s Top 10 Real Estate Disruptors 2022)
Peter Elendu: Managing Director/CEO Kerae Homes
Mr. Peter Elendu, an accountant with over 10 years experience in the real estate business in the
United States, leads the management team of Kerae Homes as managing director/CEO.
An expert in real estate development and management with solid accomplishments in Nigeria
and across a number of sub-Saharan African countries, Elendu is ably set on a great mission of
helping people in Nigeria and in the Diaspora to develop, acquire and own the most exotic
properties around.
He promises good news to people who want to undertake high quality building projects, those who want to buy lands and homes with authentic verifiable documents and people who are keen for topnotch customer service.
“The best news about working with Kerae Homes is that you won’t have to search hard to get the best options for your dream home and no matter where you are coming from or where you are looking to end up, Kerae Homes real estate company is there for you; from the point of finding or designing your dream property, to finding out the best management structure that is perfect for you. The fact is that we will serve you with the best in class luxury properties,” Elendu assures.
His vision is set on the real estate market segment made up of people who have class and taste that are beyond the ordinary. Kerae Homes’ residential estates are therefore located in high brow areas of Lagos and Abuja. The objective is to bring families with shared value systems from all spheres of life together to live in a community settings shielded from confused value perceptions in today’s urban living.
The company’s estate development projects take a customer partnership approach. It personalizes home ownership by taking in customer preferences to customize residential homes from project site, floor plans to cabinets and counter-tops.
Once the design is agreed, the company deploys its construction expertise that is guided with minute details of master craftsmanship. “We explore the virgin dimensions of architecture, giving Nigeria a reputation among other African nations when it comes to luxurious and vintage homes. We take the vision, which comes from our dreams, synergized with thought and we apply the magic of engineering and architectural prowess, building you a heritage out of our profession”, Kerae Homes assures in its corporate profile.
The company also boasts highly experienced technical manpower fitted to its mission to be the leading luxury homes developer for families in all spheres of life. “Our shared interdepartmental network of skilled artisans, engineers and surveyors has deep insight into the future and they have the ability to project that which is clear to the most resonant chambers of the mind giving us an epitome of a beautiful home”, the company said.
With the level of experienced industry hands at its service, Kerae Homes lays claim to be in charge of the real estate powerhouse in Nigeria.
Elendu launched out with Kerae Homes from the company’s Abuja office in December 2016 equipped with 10 years of experience in real estate industry in an advanced market setting. His vision is to give Nigeria the reputation of the most luxurious and classy homes imaginable in Africa when it comes to home delivery.
Since launching out, the company has built varieties of apartments, terrace duplexes, detached and semidetached duplexes in its estates. These include prime estates in Lekki Free Trade Zone such as Hamlet Apartments being built on 10.5 hectares of land within the neighborhood of Lacampine Resort, Lekki International Cargo Airport and Dangote Refinery, among others. The estate, which is planned to be delivered in two phases between 2022 and 2023, is Kerae Homes’ contribution to reducing housing supply deficit in Ibeju-Lekki area of Lagos State.
The company has also developed full service luxury homes in Bayline and Sereno Estates in the heart of Lekki Epe Highway, Lagos within the neighbourhood of Pan African university, Lekki Freezone, Lekki Deep Seaport, Lekki golf course and Private International airport, Ibeju Lekki – a territory that is set to become the industrial, logistical and I.T hub of the African continent.
The company described its Bijou mini-estate at the heart of Sangotedo, behind Novaro mall as inspired by over two thousand years of great architectural works from Greece and the founder’s love for vintage home designs.
Kerae Homes offers investment plan for people who seek rewarding investment opportunities in real estate. The company has at its command professionals that provide thorough analysis of the housing market, providing insights into different instruments' performance, which enables it to achieve consistent revenue and earnings growth.
The company speaks of its robust competitive advantage that permits delivering high quality houses are fair prices. This underlies its ability to deliver a range of 15-35 percent return on investment in a period of one to two years depending on the investment features selected.
The company’s high return target is to provide a dependable platform for people to meet their financial goals, create wealth by staying ahead of inflation. The key to achieving these is the company’s low risk strategy through due diligence and proper land documentations.
Kerae Homes offers a four-step building schedule that delivers a classy home in four to six months. The first step is to pick a home site, floor plan and exterior elevation under an expert guide.
The second step is to pick models, elevations and upgrades, which includes everything from appliances and cabinets, paint colors and counters to flooring and light fixtures approved with the design. Step three is the building springing with every detail of the design coming to reality. The final step is the moving in, which is accompanied by fixing any post construction issues that might arise.
(Nigeria’s Top 10 Real Estate Disruptors 2022)
Armstrong Tope Akintunde: Managing director/chief executive officer, Aerofield Homes Limited
Mr. Armstrong Tope Akintunde is managing director/chief executive officer, Aerofield
Homes Limited, a company reputed for high expertise in the luxury real estate space in
Nigeria. The company’s housing developments range from single family units to multi- unit developments located in environments united with nature.
Its commercial developments are designed to meet the varying needs for office, retail
businesses and leisure. Here the company goes the entire length to distill the
understanding of the functional and complementary needs of the user into scheme concepts, design and finishing.
In both residential and commercial housing development undertakings, whether they are for sale or lease, Akintunde is keen to ensure his company delivers products with all the features of functionality, quality, value and sustainability.
“Our main concern at Aerofield Homes Limited is pushing down the figure of Nigerians without decent shelter and this we have been pursuing with tremendous drive, energy and integrity”, the Aerofield Homes’ CEO stated.
He is an advocate of a united action by public and private sectors to increasingly make Nigerians home owners, stem housing deficit in the country and increase gainful employment in the real estate industry.
At Aerofield Homes, Akintunde is on a mission to help bridge housing deficit in Nigeria with a passion for excellence, luxury and comfort. He has attained great milestones on the mission with delivery of several multi-million-naira housing projects across the country.
An agronomist by training and estate developer by function, Akintunde ranks among the big names in Nigeria’s real estate industry. He studied agronomy at the Federal University of Agriculture, Abeokuta, Ogun State.
Through further professional development programmes in real estate and project management in Nigeria and overseas, he has attained professional heights as fellow of the Institute of Professional Managers and Administrator of Nigeria, an associate of Nigerian Institute of Management, a certified Customer Relationship Manager and a certified representative of CIMC Global (Chartered Institute of Management Consultant, Canada).
Akintunde entered the real estate industry in 2009 when he joined Suru Group Limited – a company that operates a diversified portfolio of real estate properties and hotels across several clienteles. He is currently holding forth in the company as its executive director in charge of special projects. From there, he doubles as CEO of Aerofield Homes Limited.
Occupying those positions in the two companies that aren’t in a single group will ordinarily raise concerns of conflict of interest but Akintunde said that is completely out of the way. “Having trained and grown up with the ability to manage multiple responsibilities at once by focusing on tasks while keeping track of others, these multi-tasking skills in me wouldn’t allow for any clash of interests”, he assured.
Aerofield Homes’ services include housing development and construction under which it holds itself out with a firm promise – to make clients’ dreams a reality. It simplifies the process by assigning dedicated project managers to serve as a single point of contact throughout the life of the project from conception to completion.
The company also offers facility management services using seasoned experts, who understand the business. It sets its goals high in managing client’s assets to maximise potentials and returns on investment.
The company also engages in investment/land banking under which it aggregates parcels of prime land for future sale or development. This is a value enhancing endeavour that yields high returns within a relatively short period of time.
Aerofield Homes also offers real estate agency services with a promise to lead people in search of dream properties for rent or for buy to dream come true. The company leverages on its track record of integrity and transparency as well as its network in the property market to source desired properties with ease and on time.
Akintunde’s innovative strides in bridging housing deficit in Nigeria is headed to the next level of building the human capacity. “As a matter of priority, we intend to establish a world-class academy for the training and development of young entrepreneurs in the nearest future”, he said.
He has in view what would become a centre of excellence that others would soon begin to emulate. The purpose is to spread the capacity to address Nigeria’s housing shortage across the nation to get a lot more hands on deck. His expertise as a resource person in entrepreneurship development will expectedly give the project a good millage.
The nation-wide capacity building is his own strategy to speed up house delivery to Nigerians in a situation of rapidly increasing cost of building materials – a move he would like various governments to join by turning their promises of delivering low-cost housing into action. Such action, he said, should involve ensuring stability in the prices of building materials.
He prescribes collaboration of government with professionals and artisans in house building business as well as manufacturers and stockists of building materials for the low-cost housing dream to be realised in Nigeria. “No matter how genuine the intention or strong the drive may be, if the prices of building materials are not controlled or managed, the idea will never come to fruition”, Akintunde declared.
He makes a special case for a public-private partnership arrangement that covers provision of land and title documents, enabling regulatory policies for the industry that would encourage the usage of standard building materials and professionals in the building and construction of houses and other infrastructures in the effort to curb incessant building collapse.
Charles Nwadavid: Chief Executive officer, Chavid Properties Limited,
Mr. Charles Nwadavid is chief executive officer, Chavid Properties Limited, an Abuja-based real estate company with a big hand on deck in solving the city’s housing crisis.
The future centrist property company is counted among the leading contemporary real estate organisations primarily engaged in property development, general construction and investment.
The company holds itself out to the general public with a promise to provide in a unique way high-quality residential and commercial properties that meet value and satisfaction specifications of clients. It defines its orientation as client-focused, result-driven with meticulous attention to details.
Nwadavid is in charge of an organisation that is ranked among the fastest growing real estate development companies in Nigeria’s Federal Capital Territory. He sums up the business philosophy with which he has created one of the most unique company cultures in the city thus. “I am regarded as the man with the billionaire’s mind. I am a long-term thinker, one who pays meticulous attention to details”.
He is set on an ambitious real estate project of building 80,000 housing units by 2040, with 30,000 units in Nigeria and 50,000 units spread across every major city in the world. In order to make the colossal project happen, he has assembled a team of players and partners able to keep in motion the disrupting status of his company in the real estate world, leaving no room for mediocre thinkers.
He leads a team of top-notch professionals and investors schooled in the core values of integrity, high quality consciousness, unending innovation and surpassing expectations right from the foundation.
At Chavid Properties, Nwadavid is set on a great mission to raise the bar of luxury living in Africa and beyond on a continuous basis. His strategy in accomplishing the task is ‘to think, create and build’.
The company’s housing projects are designed to make a significant contribution in bridging the wide gap in demand and supply functions in the Nigeria’s housing market. The company focuses on both residential and commercial property developments with a commitment to identify homeowners’ needs and provide value for money.
Its residential developments include Acorns Apartments, a luxurious 3-bedroom unit apartments located in the heart of Jahi District in Abuja. It was designed to cater for individuals with premium taste and class. The company leverages contemporary architecture and technology to provide innovative building designs that meet the taste for premium and luxurious living environments. Its wide range residential property offers – all come with classy infrastructures and facilities that ensure the ambience of modern living.
In commercial real estate, Chavid Properties undertakes for itself the role of providing solutions by way of reflecting the architectural character, values and needs of the communities in the design and construction of buildings. It assures of its high skills and expertise in the design, construction and timely delivery of office buildings, district markets, shopping complexes, plazas and recreational/leisure parks.
The company also asserts its key strengths and superior offerings in the infrastructure development space, covering designing, constructing and delivering the highest quality projects possible in both public and private settings. According to the company’s profile, “we provide professional services in the areas of engineering, construction and maintenance of various infrastructural projects (construction of roads, bridges & other essential infrastructures)”. It points to its team of world class professionals of many years of experience and a strong network of suppliers and vendors as the source of its operational strength.
The Lagos-born accountant, who hails from Enugu State, followed the path of natural growth in business, starting out as a rental agent, an engagement that helped foot his bills while in school. From there, he graduated into the class of property sales and then finally transmuted into an astute estate developer.
The slow but steady natural growth process has taken him through the learning curves. “I totally support the axiom that says, if you jump up, you will come down; if you grow up you stay up. I have painstakingly gone through the real estate process to arrive where I am today. I have been able to amass tremendous knowledge in the real estate sector and beyond, from the administrative aspect, to sales and marketing, the technical know-how, team building, people and leadership skills, the list goes on”, he said.
His success however isn’t just taking the long road but learning what works and what doesn’t all the way. His credentials speak of a voracious reader, an excellent communicator and an executive management professional, who continually strives to be the best he can daily. “I believe so much in personal development, I see life as a learning journey, the moment you stop learning, ignorance sets in”, he said.
His discovery from his wealth of knowledge is that real estate, as one of the basic human necessities, also constitutes one of the key functions in wealth creation. “I am yet to find a wealthy man who doesn’t have a sizeable investment in real estate. It is one of, if not the safest and surest form of investment and a good vehicle to creating generational wealth. Also, it’s a good hedge against inflation”.
Nwadavid is calling for a lot more hands on deck in order to address swiftly a deficit of over 22 million housing units and counting in Nigeria. The number, he said, has risen exponentially from about 7 million units in 1991. Nigeria’s annual housing production of 100,000 units, isn’t going anywhere to address the deficit, he stated.
“We need to be producing over a million housing units annually to stand a chance of saving Nigeria from such an enormous number in housing deficit”, according to Nwadavid. The solution, he said, lies in developing a viable mortgage system that will enable middle- and low-income earners acquire houses, which in turn requires the development of a synergy between government and the private sector.
He sees strong collaboration between the government and private sector as imperative if the nation’s housing deficit is to be mitigated. If these measures are not put in place, it will take the country a lifetime in the effort to solve its housing problem, he said.
He identifies the objectives of such collaboration as encouragement of the right individuals and institutions to play pivotal roles in the industry, tax incentives, grants and low cost credit – which will reduce the cost of housing units and therefore enable mid- and low-income earners to acquire properties
Chudi Kalu: CEO, Middlechase Properties and co-founder/chairman Arkbridge Integrated Limited
Mr. Chudi Kalu, CEO, Middlechase Properties and co-founder/chairman Arkbridge Integrated Limited boasts 15 years’ experience in real estate and finance over which he has acquired, developed and financed real estate properties valued in excess of $100 million. His organisation focuses on urban mixed-use and retail property developments with an established track record of unique, high-quality residential destinations.
“At Middlechase, our team has been at the vanguard of the real estate cash flow movement. We are committed to helping investors and potential homeowners to fully leverage every of our developments located in every part of Nigeria to build sustainable wealth.
“We are happy to deliver on our promise of affordable real estate projects using the best quality building materials and working with experienced construction professionals and artisans,” Kalu said.
He is on a mission to help people acquire rewarding home investments anywhere in Nigeria with an attaching stream of cash flow. Middlechase sets out to lead the way in rental income property development and Kalu, who is called coach in this field, holds a firm promise of helping property buyers become cash flow generating landlords.
Turning the property market into a cash cow is the investment message that Kalu is desirous to drive home clearly to change the industry narratives. It is a big part of his company’s mission that determines what to buy and where to invest and the reason why his clients make guided choices of properties of multiple rental apartments.
The company brings people to a simple conviction in the use of their money – that though they may want to hold real estate equity, what they really need is real estate that produces cash flow. The company guides intending property owners through the vast options in the marketplace and narrows choices down to real estate properties in locations that can deliver regular rental income with high occupancy rate.
Kalu’s coaching skill comes into play in guiding investors in real estate on key factors to consider before investing. His four-step investing process includes self-assessment test that identifies the financial status of the intending investor, followed by identifying opportunities tested and trusted to deliver good returns.
The next step, according to Kalu, is consultation, which is a fact finding inquiry on the identified opportunities before committing funds. To him, not having the right information about a property before investing in it makes it an extreme sport; a game of chance that is laden with risk of loss.
Where the first three steps have been properly considered, the real estate coach in charge at Middlechase says it is the right time to take the bold step into the real estate investing arena. Under the strict guidance of his investing, he assures that the investor is on a firm solid path to an unstoppable fortune in real estate business.
Middlechase has to its name a number of housing development projects completed and allotted to homeowners as well as ongoing in Lagos and beyond. These include Eastland Golf Estate located at Abijo, Ibeju-Lekki in Lagos.
The company is also developing FairField Apartments in the same location, which is a 600-unit flat development, offering one-, two- and three-bedroom apartments in addition to penthouses. Other ongoing projects include Newtown Apartments springing up at Ijaiye, Easton Towers in Maryland, Eastland Terraces in Ibeju-Lekki and Uptown Plaza at Ijaiye – all in Lagos.
Known as rental income coach and cash flow king, Kalu is the author of The Cashflow Landlord. In his words, “the book is too loaded. There is actually no value enough to justify a price tag for the book”.
He began his career as a magazine editor and later vied into property investment where he soon built a viable real estate portfolio. His experience in entrepreneurship and real estate investing inspired the creation of a chain of flourishing businesses.
Apart from Middlechase, he is co-founder and CEO, RORI Africa – Nigeria’s leading crowd-investing community. There, he undertakes the leading role of structuring strategic partnerships, deal underwriting, real estate development, public relations at the level of long-term strategy and goals setting for projects.
Kalu is also co-founder/president, Africa Property Investment Group, which is on a mission to inspire, educate and support its members to build and preserve real wealth through real estate. He was one of the founding members of Young Entrepreneurs of Nigeria, a progressive investment and business collaborative group that saw the rise of over 200 successful young entrepreneurs in a space of one year.
He is co-founder, Arkbridge Integrated Limited, a leading inventor of diligently crafted communities with several estate projects to its name within the Lagos metropolis. He was behind the first crowd investing project in Agbara, the ‘Orange Heights Development’ and has been involved in the industry ever since. He is currently chief editor for RE-Invest, a property investment magazine.
Kalu brings in his highly informed views regularly on property investment issues in Nigeria and speaks at many investment and property events across the country. In his outlook for the property market in 2021, he foresees a boom for the Lagos market – raking in as much as $5 billion worth of investments in five years.
His prediction is premised on several opportunities he said are inherent in Nigeria’s property market – where about 48 million people would demand to build their own houses yearly and about 8 million people have the capacity to buy a house every year.
His comprehensive understanding of the property market, combined with his ability to deliver projects to multi-stakeholders, has helped to consolidate his company’s position at the cutting edge of the industry.
Ibukun Adedayo: Chief Executive Officer, Rock Realty Limited
Dr. (Mrs.) Ibukun Adedayo is chief executive officer, Rock Realty Limited, a real estate development and advisory company headquartered in Abuja. She leads a team of professionals skilled in utilizing the company’s extensive network and knowledge in real estate development to build affordable housing estates for individuals and corporate organisations.
The company’s target market is middle income group where it employs the institutional support of National Housing Fund and other mortgage options to boost the ability of this category of people to own their own houses. All the company’s projects are structured along mortgage lines, tailoring payment options to suit earning patterns. The flexible design enables home buyers to structure their mortgages to fit into the company’s products.
The company specialises in providing real estate solutions for people earning N3 million and above annually. “We focus on building and providing purchase structures that are tailored to the cash flows of middle income real estate”, Adedayo said.
Rock Realty is one of the few real estate development companies in Nigeria that play actively in the world of mortgages where the biggest capacity for mass housing development resides. The company strives to stand out by tapping this capacity to respond to the housing needs of Nigerians. Its services include mortgage brokerage and advisory, real estate development, consultancy and property sales.
Adedayo launched the company in 2016 out of her passion to drive that real estate market niche where developers offer products designed for middle income earners to own their own homes. It sprang from her passion to feel in the gap of building affordably homes for middle income earners. The drive, she said, was to push for improvements in mortgage offerings that make room for the target group of people to benefit. It provides a veritable platform for her to educate middle income earners on ways to structure their cash flows to take advantage of home ownership and real estate investing opportunities.
Her passion was borne out of painful experience of seeing middle income earners in other countries getting homes while in Nigeria they are confined to rental cycle without hope of breaking free. Beyond that, Adedayo was concerned that even within the rental cycle, people still failed to develop the requisite savings culture to be able to pay their rents at the right time. “So we set out to provide solutions that would address some of these and other similar bottlenecks in the middle income real estate in Nigeria”, she said.
Some of the company’s major housing projects include Bold Living Apartments located at Alpha Beach Road in Lekki, which is planned in two phases. Subscribers to the apartments can make use of the National Housing Fund loan, which is available at 6 percent interest rate per annum in structuring their payment plans.
Another of the company housing project is Bronze Living Estate, which is located at Arapaja, Odona Kekere area of Ibadan. It consists of 290 units of affordable one-, two- and three-bedroom bungalows.The company offers flexible equity contribution options based on mutual agreement, which is spread over the construction period. The project is also planned to avail subscribers the benefit of using National Housing Fund mortgage, which the company helps to process. In addition to functional infrastructures, central location and significant capital appreciation potential, it offers adequate security.
Adedayo plans to attain new milestones in expanding investment in the real estate market using mortgages as the driving vehicle. “Over the next five to seven years, we intend to construct over 1,500 affordable homes in Nigeria”, she stated. [Pursuant of the big dream, she is working on a Diaspora Real Estate Platform in conjunction with Nigerians in Diaspora Commission, an initiative which would work hand in hand with the newly approved Diaspora Mortgages by the Federal Mortgage Bank of Nigeria]*. This provides a platform where Nigerians in Diaspora can invest in credible housing delivery without the fear of theft or other abnormalities that may have happened in the past, Adedayo explained.
The platform is designed to fill the trust gap and boost the confidence of Nigerians in Diaspora in the real estate industry back home and therefore boost investments. Diaspora mortgages can be accessed on the platform at single digit interest rates to give it a further boost.“It would be the go-to platform for Nigerians in Diaspora to invest in the Nigerian real estate markets”, according to Adedayo.
The medical doctor, serial entrepreneur and home builder, who drives the vision at Rock Realty, qualified in medicine & surgery and practiced as a medical doctor for a few years. She later branched off into the world of investment banking, development finance and advisory services.
Her last place of paid employment before she launched her company is Infrastructure Bank, where she played an active role in major infrastructure development finance projects, culminating in her leading the real estate department for many years. From there, she developed the passion for spearheading major game-changing initiatives within the real estate industry, focusing on the middle income real estate investing.
To Adedayo, her company’s major accomplishment so far isn’t the estates it has built but the minds of people it has changed. Her focus on the middle income market segment brought her face to face with an unyielding mindset of many middle income earners – that they cannot afford their own homes yet, ruling out also the option of exploring any initiatives her company was offering for home ownership. Also, many people were skeptical about off-plan purchases on which most of her company’s offerings are hinged due to breakdown of trust within the real estate industry.
Through a lot of advocacy and mind re-orientation ,the Rock Realty’s CEO has changed the story. “We have seen many young upcoming professionals now suddenly realising ‘oh, I really can own my home now, if I look for the right payment plans and initiatives that are tailored towards my cash flow pattern; even though I realise that it may require some cash flow sacrifice from me’”, she said.
Rock Realty picks up the slightest buyer interest and works from purchase advisory, cash flow assessment to structuring payment plans that are fit for the client in consideration. This is the company’s distinguishing feature in the marketplace. “It is what endears us to our clients, especially those who just never thought home ownership was possible for them anytime soon”, Adedayo said.
This she does in pursuit of a mission to change the mindset that home ownership and real estate investing is only for the very rich.
Obinna Iyiegbu: Chief Executive Officer of Casa Cubana Homes
Mr. Obinna Iyiegbu, chief executive officer of Casa Cubana Homes, has arrived the real estate industry in the course of his diversification from entertainment, where he is widely known as Obi Cubana. “Yes, I have broken every record when it comes to entertainment, not only in Nigeria but throughout Africa, and there’s a need for us to diversify and offer quality service to our various clientele”, he said.
He cuts his way to the high end of the real estate market, providing top notch residential and commercial properties designed to attain the utmost satisfaction of clients.
Casa Cubana Homes operates from the Federal Capital Territory, Abuja with prime holdings as well in Lagos. It takes upon itself a commitment to creating value in property and adding colour and style to places for people to live and play.
By its market definition, the company is out to build exceptional properties for exceptional clients. “As a seasoned real estate professional, I recognize and value the trust my clients place in me and I strive every day to exceed their expectations”, Iyiegbu assures.
In real estate, he is on a mission to creating an array of products tailored to meet the diverse needs of clients, including taste, style and value. He makes a promise to mitigate the housing challenges faced by Nigerians by providing affordable accommodation for residents of Abuja irrespective of status.
Casa Cubana Homes has, in partnership with another real estate developer, New Dawn Lifestyle City embarked upon the construction of a smart city with 600 classic housing units and premium golf resort in Abuja. The New Dawn & Casa Cubana Golf City, planned on about 45- acre land on the Jabi- Airport Road, is billed for completion in 12 months.
Commencing with massive development of roads, drainage, plotting and layout, the project is designed to accommodate residential and commercial properties, a presidential villa and green areas to give the best experience of luxury living to subscribers.
The project consists of four, five, six-bedroom detached duplexes, four-bedroom semi- detached duplexes, four bedroom terrace duplexes and others. Golf course is incorporated in the project in order to avail people an opportunity to take a walk from their houses to play golf.
Apart from golf course, the estate is planned for a 24-hour power supply, central sewage system, shopping mall, banking facilities and gymnasium.
The project also encompasses room for low income earners. “We have low-income earners in our plans. That’s why we are saying it’s for everyone. Also, we are creating hundreds of jobs for all manners of people,” Iyiegbu said.
To him, the scheme is a fulfillment of the vision to build a safe, secure and all-inclusive architectural masterpiece that will not only redefine comfortable living but also serve as an epitome of a fast-changing lifestyle.
It is also his hope that the project will open the doors to new partnerships of individuals and organisations from all over the world to exploit fulfilling investment opportunities available this part of the world.
The University of Nigeria Nsukka trained political scientist turned entertainer and real estate developer, aims at using the grand project to expand the frontiers of real estate in Nigeria and bridge the housing gap in Abuja.
He sees the deal with NewDawn Nigeria Limited for the project as a product of constant innovation. “The need to constantly innovate in a world such as ours cannot be over- emphasized. It is for this reason that we at Casa Cubana, a reputable luxury real estate development company that has made its mark in the development of top-notch properties
have decided to partner with New Dawn Golf and Resorts to deliver this state-of-the-art facility that our esteemed stakeholders can be proud of”, Iyiegbu said.
Value for money for investors and the best architectural designs are key promises of the project. The idea is to cause a major overhaul in housing to fit into the evolution of work and lifestyle, according to the developers.
The developers envisage a community of vibrant investors who are enthusiastic about quality living and technology. Their vision is to bring home the importance of rest and recreation on a continuous basis and make them quite convenient to reach and enjoy.
