The chief executive officer of Hall 7, a Nigerian leading real estate development firm, Olayinka Braimoh, has urged both local and international investors to see the country’s profound housing deficit not as a burden but as a significant untapped economic opportunity.
Braimoh made the call during the prestigious Africa International Housing Show, held at the Transcorp Hilton in Abuja. He offered a clear and strategic roadmap for unlocking Nigeria’s real estate sector’s immense potential.
Delivering a keynote address, he highlighted the powerful market fundamentals that make real estate a prime investment, noting that despite the sector’s steady annual growth rate of over 3.5%, a vast gap exists between supply and demand, making it a lucrative frontier.
Braimoh emphasised that innovation in real estate must extend beyond construction to drive industrial growth and streamline processes.
He called on regulatory bodies to embrace digital transformation, specifically by adopting online platforms for submitting, reviewing, and approving development proposals.
According to Braimoh, this would enhance efficiency, reduce the current lack of transparency and predictability, and allow for approvals in as little as 10 to 20 days.
“By reducing the time developers spend on approvals, a significant amount of capital could circulate more rapidly, benefiting the entire economic ecosystem.
“While the Nigerian real estate sector’s growth has been steady, with an average annual growth rate of over 3.5%, there is still a wide gap between supply and demand, particularly in the premium and middle-class segments,” he said.
Braimoh emphasised that forward-thinking developers who prioritise quality, timely delivery and innovative solutions will be the most successful.
He called for a greater public-private sector collaboration to address infrastructural gaps and accelerate the sector’s digital transformation, urging investors to look beyond conventional models and partner with proven, results-driven firms like Hall 7 to capitalise on Nigeria’s real estate boom.
