Real Estate and its diversification in the Nigerian Economy – Broll Nigeria
Broll Nigeria is a Nigeria property firm that specializes in project management, broker services, real estate services, facilities management services,retail leasing and consulting, research, shopping centre management and also residential estate management.
This company is one of the largest and most reputable estate company in Nigeria with its CEO ; Mr. Bolaji Edu. Very recently a property investment summit was held where Broll was a sponsor and Mr Edu had this to say about the diversification of the Nigerian economy with the use of real estate.
He stated that the real estate industry in Nigeria is a very viable industry for economic diversification and growth in the country. He also stated that with the degree of growth and expansion the industry is experiencing, between 2017 and 2020 will approximately improve by about 5.39 percent.
According to Mr Edu,the Nigerian economy has a very investor attractive potential and will be utilized adequately if it can be stretched to venture into other industries. He also said that the time has come for the country to invest in other sectors and that real estate has proven to be one of the most sought after for investment and diversification.
In his opinion, real estates will attract investors from international agencies and drive home returns that will boost our country’s economy. He also spoke about how we have high or quality goods that will attract investors from other countries to build and improve our economy and west Africa as a whole. He said that the goods we have will be improved and modified by private equity companies and investors that will also stabilize the growth of the market in areas west Africa will be targeting.
“Essentially, we have good quality grade ‘A’ stocks, which are developed by local investors and international private equity firms as well, but we will have stabilised returns going forward in many areas that the markets in West Africa are targeting.”
He also inferred that the country has concentrated too long on the grade ‘A’ products when there has been room to develop and upgrade the grade ‘B’ products which has slowly starter drawing investors into the country. He said that it’s best we start thinking of better ways to improve the areas of investment of our economy. It’ll not just give us excessive returns, the networks and relationships acquired will also stand as a foundation for future interactions.
Lastly he spoke of the need to rebalance the economy, upgrade our local manufacturing outputs, improving infrastructure and thereby opening the country to more investors and inspiring other creators to grow their different industries like warehousing and logistics for a better and more resourceful economic status in the country.