The performance of the housing sector is one of the yardsticks by which the health of a nation is measured. In most developed economies, the housing sector is seen as an important sector for stimulating economic growth.
According to The United Nations Population Fund, UNFPA, Nigeria’s population is increasing by 3.2 percent annually, which projects to 216 million people in 2022, and may hit 400 million by 2050. This will make Nigeria the world’s most populated nation. This is one of the factors responsible for the viability of the real estate industry.
But despite this encouraging population growth and increase, the Nigerian real estate industry is still burdened by several issues that are hindering its growth.
Among the many problems plaguing the Nigerian populace, housing happens to be a major challenge. Nigeria’s housing deficit has continued to rise annually, and access to affordable and quality housing has largely remained an unfulfilled dream to the vast majority.
These issues affecting the Nigerian real estate industry range from the high cost of construction, building collapses, poor maintenance culture, and the dearth of competent and professional builders who place more emphasis on money to the detriment of residents and investors.
Due to the looming housing deficit, Ragnarok Property Development Limited has made it one of its prerogatives to bridge this gap and has continued to be at the forefront of quality housing development.
Powered by the vision of building a better, more comfortable world and driven by the belief that everyone deserves a befitting space to call home, Ragnarok has constantly pushed the boundaries in building modern, exquisitely comfortable homes that the majority of Nigerians can afford.
“Nigeria is plagued with an alarming housing deficit leaving the increased influx rate in dire need of homes. This inspired Ragnarok to venture into developing quality and functional contemporary estates at affordable prices. We have a well-defined goal towards providing revolutionary real estate solutions in Nigeria,” says Barr. Adebiyi Alex Adedipe, Managing Director of Ragnarok.
Building on Trust
In recent times, there have been emerging and existing constraints in the market, which threaten its growth. The real estate industry in many instances has been criticized for its generally “lackluster performance, tendencies to overshoot timelines, overrun budgets and underperform as a production entity.”
Then Ragnarok extended its purpose-driven efforts to deliver standards to people on relevant projects within the shortest time without compromising quality.
Barr. Adebiyi explained, “The real estate market itself is evolving and things are changing. We are very concerned about the safety of our customers. More people are demanding houses that conform to quality which I think is where the largest opportunities are. This has made us step up our standards elaboration processes to deliver standards to the people on relevant projects within the shortest time.
“We are obviously delivering the very needed development to help customers rise above their circumstances and we are happy to see the market taking shape.”
The Birth of Alverton and Westbury Homes
When confronted with eroding margins in a rapidly commodifying world, companies must enhance their value propositions by innovating products, services, or business models. Because a purpose-driven approach facilitates economic growth, it allows companies to broaden their mission, create a holistic value proposition, and deliver lifetime benefits to customers.
“Companies can make a recognizable shift in three main ways, by responding to trends, building on trust, and focusing on pain points. Over the years, Ragnarok has built its reputation through the quality of services we render. We have always prioritized clients’ satisfaction above profit-making, and this led to the birth of our two residential estates- The Alverton and Westbury Homes located in Lakowe, Lekki,” Barr. Adebiyi said.
“The Alverton comprises 2, 3, and 4 Bedroom Terraces while Westbury Homes offers serviced plots in 300 sqm and 600 sqm in an eco-friendly serenity.
“We know the importance of delivering quality homes that is why we make our aspirations affordable and put in place modern facilities that every 21st-century community should have like potable drinking water, 24-hour electricity, and a functional estate security network with CCTV cameras, all of which can be found in The Alverton and Westbury Homes. Estates should be designed to be secure and a place that promotes a healthy lifestyle.”
Although Ragnarok has become a signature of competence and a household name in the sector, the real estate company is not yet resting on its laurels.
Speaking on the future of Ragnarok, Barr. Adebiyi said “The following drivers are the pillars that are responsible for our early rise and the pace we have kept ever since inception; excellent service delivery, integrity, continuous innovation, and development, maximizing stakeholders’ wealth and customer satisfaction.
“As a customer-centric organization, our focus is on customer needs and wants. We will build on the gains we have made over the past few years and continue to grow our service offerings to keep up with the ever-evolving customer needs. We will continue to build on our competence and improve our capability. Our employees are one of the reasons for our success story and we shall continue to prioritize their welfare.”