Abdul: Innovating To Build Affordable Homes To Address Housing Deficit

Dr Adekunle Abdul is the managing director of Abdul Metro Group, the parent company of Metro and Castle Homes. Metro and Castle is not just about houses, it is a brand that builds affordable luxury residential communities that include sports facilities, retail outlets, residential housing, and facility management services. Whatever a community needs, they provide either directly or through trusted partners with strong reputations.

Speaking with Abdul on what motivated him to get involved in real estate in the first place, he said, “I’m not in real estate just for business. When I lived abroad and attended church, I often heard people grumbling about sending money home to Nigeria and not receiving properties.” Abdul was then still a student, studying construction management.

“I didn’t have the vision for community building yet. I could have pursued a well-paid career abroad, but those complaints really struck a chord with me,” he said. This drove a hunger to solve the problem, particularly around dishonesty and the frustration from unfulfilled property purchases. Saying, he realised this is a major issue, so he took the decision in 2018 to fill up the space, in 2019, the company launched into the real estate industry.

Success Story

To him, “real estate is more than just construction; it’s about building trust and providing long-term solutions. We’ve now delivered over 300 roofs, moving toward 400. Over 40 per cent of our clients are diasporas. Looking ahead, our new five-year plan, spanning from 2025 to 2030, is much more ambitious. We’re now projecting to deliver 500 housing units, and we’ve already gotten started on this goal.
“As of now, we’ve completed about 10 per cent of that total, which leaves us with approximately 450 units left to build. We are currently in the final stages of the initial phase. Also, we have, through this work, created jobs in construction and related industries for Nigerians.” He said, his company directly employs about 145 staff and hundreds of contractors, which is impacting thousands of families.

Challenges

Abdul emphasised that, the cost of getting land is one major challenge in the sector. He said, land is the biggest factor driving the price of houses. If the government could provide cheap land, even if it’s far from city centres, it would help us build quality homes at affordable prices, he stressed. A parcel of land in some places could cost N400 million, for instance, while similar plots in other areas could cost just N100 million; this will greatly affect the final housing prices, he noted.

“Another challenge is the issue of professionalism. So many people do not follow rules or regulations. So, that is what we have noticed. The industry has been a place anybody can look around and call himself any name. What you know is that, you don’t have the basic knowledge about it, but you parade yourself as one. I have friends who say, ‘Oh, my cousin is a realtor.’
“What qualifies your cousin to be a realtor? And this is why you end up in a land that is an agricultural land. When you look at all the social media accounts, we figure out that the problem is the agents, and the realtors too are not well equipped knowledge-wise,” he explained.

Advice

“My strongest advice to anyone who wants to play in this industry is to serve before they invest. Real estate is capital intensive. Many jump in without enough knowledge and never recover. I know young investors who have had N1.5 billion tied up for years in stalled projects.

“So you must seek the necessary knowledge, whatever real estate area you want to enter. New realtors sometimes unknowingly sell fake properties, which hurts the whole industry. If you bring clients to buy fake land, you’re part of the problem.

Also, legal due diligence is absolutely vital. Even family members might have good intentions but unknowingly sell fake properties. At Metro, no funds are released until our legal department approves the transaction. No sentiment allowed. Knowledge and due diligence are key to protecting yourself in real estate,” he pointed out.

Biography

Dr Adekunle Abdul is the managing director and CEO of Abdul Metro Group Limited, a diversified conglomerate based in Lagos, Nigeria, with core competencies in real estate development, energy, construction, retail, and facility management.

Dr Abdul holds a degree in Construction Management with a specialisation in Cost Control from the Community College of Baltimore County, Maryland, USA. He also holds an honorary master’s degree in community development, awarded in recognition of his contributions to urban transformation and housing solutions in Nigeria.

As the founder and CEO of Abdul Metro Group, Abdul oversees a portfolio of thriving subsidiaries. Through strategic vision and disciplined execution, he has led the development of over 260 residential units across Lagos and Ogun States, helping reduce Nigeria’s housing deficit with dignified, accessible, and well-serviced estates.