Real Estate Sector In Nigeria

The properties and development industry are arguably over 4 trillion naira.

It is a large industry and contributes over 6% to the country's total GDP. It is a very good investment with high returns, even for non-active participants.

From sales of undeveloped land to the developed lands for commercial and residential purposes, to build units for direct sales, rents, or lease.

Current Scenario in Nigeria

Despite these industries' beautiful features, the risk could sometimes be as high as the ROI. These risks are borne majorly due to land insecurity and government non-regulation. Businesses and individuals are either losing their properties or are in an unending legal battle.

Some risks involved are :

• Proper identification of stakeholders, well-executed deed of assignments, PR, etc., seem insufficient in securing your properties

Last year I worked with some foreign investors in developing a real estate firm, and the maiden estate is yet to kickstart because of new development on the land and the need for massive ratifications despite 100% duly diligence, investigation, and perfection that was achieved before, over 700-million-naira deposit on the land! And the list goes on!

• Other risks are non-credibility, unprofessionalism (both from personnel and agents), and fraud
• Unstructured: Real estate…