Seun Osigbesan, the managing director of Frontline Homes, has said he foresees growth in the country’s real estate sector, the escalating prices and rising interest rate in Nigeria notwithstanding.

Osigbesan, who predicted in a statement said despite the high interest rate regime in the country, demand for properties will rise in 2024.

“The outlook for real estate looks promising despite the high-interest rate regime in the country,” he said. Nigeria Central Bank had since May 2022 commenced a series of interest rate hikes, hitting 18.75 in July 2023 to rein in inflation.

Speaking on his organizations projections for the year, he said Frontline Homes plans to launch new projects for the year and introduce its construction arm while expanding its portfolio.

“The introduction of Frontline residences will mark a significant step towards diversifying our offerings,” he said.

“By venturing into construction and home sales, we aim to provide a comprehensive solution for individuals seeking not only land but also ready-to-move-in homes, catering to a broader spectrum of our valued clientele,” he explained.

Recognizing the ever-evolving landscape of the real estate industry, he noted that Frontline Homes is poised to embrace innovation.

“Whether it’s adopting cutting-edge technologies, implementing sustainable practices, or staying attuned to market trends, we are committed to remaining at the forefront of positive change.”

“Throughout 2024, we will continue to prioritize our customers. Our focus on providing exceptional service, transparent transactions, and a seamless experience will remain unwavering.”

To recognize commitment and appreciate excellence, he said his organization has launched an initiative to reward dedicated realtors with brand-new cars.

According to him, Frontline Homes believes in acknowledging the hard work and dedication of its partners who go above and beyond in promoting its properties and projects.

“We are thrilled to announce our upcoming reward program where outstanding realtors have the chance to drive home in brand-new cars.

“This initiative is designed to celebrate and honor the relentless efforts of our real estate partners who consistently demonstrate excellence in their work,” he said.

He stated that realtors who excel in selling any of its properties will be eligible for the exclusive reward program, noting that the more properties they sell, the closer they get to driving home a brand new car.

“It’s our way of celebrating your success and creating a culture of achievement within our real estate community.”

“This initiative is not just about cars; it’s about celebrating success, fostering motivation, and building a community of high achievers. We understand the value our realtors bring to our projects, and this is our way of investing in your success.”

Nigeria’s real estate grew marginally to 1.87 percent in the second quarter of 2023 from 1.7 percent in the first quarter of 2023.

Source: Business Day