Real estate in Nigeria is becoming a surge and there is a good number of real estate developers hacking into the market to make sure that the commercial development of properties in the state are been provided for by both the middle and the low-income earners.
A report by Estate Intel data confirmed that development activities in Lagos increased by 19% in 2021 compared to 2020.
According to the GDP Report for Q1 2021 published by the National Bureau of Statistics, Nigeria’s real estate sector grew by 1.77%, contributing a total of 5.28% to the real GDP of the country for the period under review (around USD5.3 billion). Barring any negative unforeseen developments, the real estate sector’s contribution to the GDP is forecasted to increase.
In spite of the above, there have been instances where investors in the Nigerian real estate sector have recorded losses, owing particularly to a lack of understating of the business and regulatory environment in Nigeria.
Meanwhile, another report corroborated that Lagos is one of the states contributing to the increase of Internally Generated Revenue of the country’s real estate GDP.
In this article, we look at top 5 young estate developers making a wave with their brands and firms while contributing to Lagos’ GDP through their return-to-market activities (by several projects) in 2022.
1. Nola Adetola
31-year-old Adetola is the CEO and Founder of Veritasi Homes and Properties Limited, one of the fastest-rising real estate companies in Nigeria who has over the years built credible relationships in Nigeria and abroad with the provision of top-of-the-range real estate solutions cutting across property sales, real estate advisory services, land acquisition, and property development, with a sales record of over N2 billion in less than five years.
Nola Adetola is certainly one of the youngest entrepreneurs in the real estate industry in Nigeria who is building houses worth several billions of Naira. The graduate of Chemical Engineering from the Obafemi Awolowo University, Ile Ife, Osun State is no doubt committed to offering consummate real estate solutions in a bid to deliver luxurious and affordable housing to all Nigerians in Nigeria and in the diaspora.
2. Ayobami Oluwanifemi Akindipe
Ayobami Oluwanifemi Akindipe (born 27th of August, 1997) is a distinctive and exceptional young business leader with a track record of excellence.
He is one of the youngest real estate developers in Nigeria. Ayobami started out early at 13 years old as a bricklayer, moved on to selling drinks, yam floor on the street of Lagos and even sold chargers, recharge cards, phones literally everything he could lay his hands on. He became a real estate agent at age 21.
He studied law at Kogi State University and have since then gotten other business certification as his passion is in the business line.
Ayobami Founded Ace Real Estate Develoment Ltd. in 2019 and have since then developed multiple residential Homes accross Lagos and Abuja, he has delivered over 8 estates accross Lagos and Abuja. Ace recently lauched in Rwanda as the vision is beyond Nigeria but Africa at large.
Notably, he’s currently building an Estates in Lekki Phase 1 named NUMBER 31 and also a massive project in Epe which happens to be the first fully green and a zero carbon city; VISION CITY, a 150-hectare residential and commercial city. The dream is to build a carbon-free city, in his statement “we’re building a functional city”.
What’s more inspiring about the young man is how he has built his business debt free, without any loan, partner or investor’s fund.
Ayobami has empowered over 5,000 individuals (mostly millennials) into the business of real estate.
3. Ramos Adeyinka
35-year-old Ramos Adeyinka is the Chief Executive Officer of Ramos Lagos Realty, a company established as a luxury real estate marketing firm. The company was launched as a traditional real estate marketing agency, with the model of marketing and sales of developed and yet-to-be-developed properties.
When Ramos started, he did a little research and found out that there’s a particular way people market which is through flyers, putting people together to talk to them about real estate. He is known for using social media channels like Instagram, Facebook and youtube to sell his properties.
Ramos has reportedly over N9billion worth of properties in Lagos State as of today.
4. Sijibomi Ogundele
Ogundele who is only 39 has built his company, Sujimoto Group, in just 5 years, into a Luxury Construction behemoth, focused on building extraordinary edifices in premium neighborhoods of Ikoyi and Banana Island.
With annual revenue of approximately $30 million and many other pending projects, Mr. Ogundele believes the Sujimoto group is worth over $400 Million.
His look may be modest but his ambition belies his modesty. After an encounter with the King of Dubai who pushed his ambitious project – LorenzoBySujimoto, from 15 Storey building to a 30 storey building, reminding him that; “To be second is to be last! If people in their 30’s are building 5000 units annually in Asia, 75 units shouldn’t scare you.”
5. Olawale Ayilara
Ayilara (born 8 August 1988) is a Nigerian businessman, investor, and real-estate entrepreneur, popularly known as the founder and Chief Executive Officer of Landwey Investment Limited.
Olawale began his entrepreneurial journey right from a very young age trying his hands on several businesses before finding his oil in the real estate sector.
In 2016, Olawale founded the Real Estate Investing company with zero capital. Today, the company boast of over 22,000 realtors and consultants and over 2 billion in assets.
In 2017, Landwey won the most promising real estate company of the year award at the City People Real Estate Award.
On 19 August 2019, Landwey announced that it had acquired a quarter stake in an online platform for funding real estate projects. This came shortly after its partnership with Piggyvest (Nigeria’s largest online savings and investing platform) to introduce Landvest.
