Sir Chigozie Chukwudi Okafor, Chairman of Dynatech Group Of company, has advised that the real estate market in Nigeria and in particular Lagos State is a decent place to invest one’s money.
He stated this while introducing il Palazzi, a batch of 10 fully detached duplexes on three floors in one of Amuwo-Odofin’s serene estates.
He said il Palazzi is set to be commercially available within the next four to five months.
Okafor stated that the sheer current demand, which is heavily based on population explosion, job losses and failing markets in some other sectors, has made real estate more attractive in recent years.
“This is just one of the many commercial real estate projects sprouting across Nigeria and Africa at the moment.
According to him, given that the world is going through a recession that has been heralded by massive layoffs and unemployment, it may come as a surprise to outsiders that real estate is still holding on strong.
“For industry players and keen investors, this is perhaps one of the best times to invest their money in properties as the real estate in Nigeria continues to thrive despite all odds.
He believed that a number of factors are responsible for this.
“Location, Lagos, for instance, is a huge selling point. It makes more sense if a residential project is located in a gated, serene, peaceful and classy environment.
“For commercial projects, it could work in just about any part of Lagos. The busier the place, the higher the returns on investment.”