Nigeria’s Real Estate Market To Hit $40bn By 2030 – RepoRt

Nigeria’s real estate market is projected to grow from $32.2 billion in 2025 to $40 billion by 2030, representing a 4.5 per cent compound annual growth rate, as urbanisation, population growth and rising demand for residential, commercial and industrial properties continue to drive the sector.

The projection is contained in a June 2026 market report by Next Move Strategy Consulting, which valued the market at $29.2 billion in 2024.

Against this backdrop, the commercial property segment is undergoing a significant shift, with multinational corporations and large indigenous companies increasingly looking beyond rental costs and office floor space when deciding where to locate their operations.

The vice president of the World Trade Centre, Abuja, Ahmed Karim, said the change was particularly noticeable among multinational corporations and energy-sector companies, which are increasingly seeking dedicated, operationally ready workplaces rather than generic co-working arrangements.

Karim, who spoke during a media chat with journalists in his Abuja office, said corporate occupiers were not abandoning flexibility but redefining it in response to the post-pandemic business environment. “We are not seeing organisations move away from flexibility; we are seeing them redefine it,” he said.

According to him, discussions with prospective occupiers have changed considerably over the past five years. “Five years ago, the conversation was largely about rental rates, parking and floorplates. Today, companies are asking whether the facility is ready to support business continuity, technology requirements and engineering resilience, and how quickly they can become fully operational,” Karim said.

He explained that while co-working models remain useful for start-ups, entrepreneurs, project teams and businesses requiring short-term space, larger organisations, particularly those operating in regulated or highly sensitive sectors, often require greater control over security, confidentiality, technology and corporate governance.

Karim said the preference for dedicated offices did not amount to a return to the rigid office structures of the past, stressing that companies were instead seeking flexible environments that could be configured around their operations and expanded as their businesses grew.

“Businesses still want exceptional offices, but increasingly they are looking for environments that improve productivity, simplify operations and create opportunities to connect with customers, partners and investors,” he said.

He added that the demand was also shifting towards workplace partners capable of simplifying office delivery through planning, fit-out coordination, engineering integration, facilities management and operational support, allowing senior management to focus on customers and business performance.

The general manager, Corporate Communications, Churchgate–World Trade Center Abuja, Ibukun Ademola Adeogun said the growing preference for business ecosystems reflected a broader understanding of the workplace as part of a company’s strategy rather than merely a physical location.

“The workplace is becoming a strategic business asset rather than simply a place to work. The significance of a business ecosystem goes beyond the physical facilities. Companies are increasingly interested in where their people should be, who they should be surrounded by and how their workplace can support growth,” he said.

Adeogun said the proximity of businesses, government institutions, investors, financiers and service providers could itself become an economic asset. He said the Churchgate–World Trade Center Abuja model responds to this demand through Grade A office accommodation, customised workplace solutions and resilient infrastructure that enable corporate occupiers to commence operations with fewer delays and disruptions.

He said the development combines offices with executive residences, restaurants, cafés, meeting facilities and a private clubhouse, providing companies with an integrated environment for conducting business, hosting clients, accommodating executives and engaging potential partners.

According to Adeogun, the model could be particularly relevant to Abuja, where energy companies, government agencies, diplomatic missions, financial institutions and international organisations regularly interact.

Karim further stressed that the model was especially relevant to the energy sector, where companies routinely deal with regulators, government officials, investors, financiers, technical partners and international organisations. He added that bringing many of these stakeholders into a common business environment could strengthen networking, partnerships and commercial opportunities, turning the workplace into more than an address for employees but a platform for business growth.