Nigeria’s Top 10 Real Estate Disruptors 2022 -Charles Nwadavid

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