Nigeria’s real estate industry is booming, and a number of developers are snatching up market share to ensure that both middle-class and low-income residents can afford to develop commercial properties in the state.
According to a research by Estate Intel data, development activity in Lagos grew 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.
Despite the foregoing, there have been instances where investors in Nigerian real estate have suffered losses, particularly as a result of a lack of understanding of the country’s business and regulatory environments.
Another survey, meantime, confirmed that Lagos is one of the states boosting the country’s real estate GDP through internally generated revenue.
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.Abdulmalik Mahdi
Abdulmalik holds a B.Sc. in Political Science from Bayero University, Kano, a Master’s in Islamic Finance from INCEIF – Islamic Finance University of Malaysia, and an MBA from IESE Business School Barcelona.
He has worked with major banks in Nigeria and has over 18 years of financial modeling and customer management experience.
Abdulmalik currently serves as the Managing Partner of Modern Shelter Systems and Services Limited a company he founded in 2015 and has grown into one of the fastest-growing real estate companies in Nigeria, with over 4 estates currently in development and partnerships with major banks, financial houses, and private investors.
2.Aliyu Aliyu
Chief Executive Officer BILAAD REALTY is a graduate of Civil Engineering from the Federal University of Technology Minna, Aliyu possesses over a decade’s worth of industry experience in various technical, operational, and management roles.
He holds a Master in Engineering Project Management from Coventry University, and an Executive Master in Business Administration from The Institute for Management Development (IMD), Lausanne (Switzerland).
With a unique skill in managing complex projects, he has overseen the delivery of over 1,000 housing units and participated in the planning and initiation of 7,000 housing units across various projects in different locations. Aliyu Aliyu is result-oriented and consistent in his pursuit to achieving professional excellence.
- 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.
4.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.
5.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.
6.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.”
7.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.
8.Olumayowa Olurishe
Award winning Real Estate Company DME (Dynamic Mayor Edge) estates has been consistent in human growth and n participated enormously in reducing the housing deficit the country is faced with by developing over 300 houses around the country in just 5 years of establishment.
DME estate targets to build about 5000 homes by year 2028 and intends to also be the number one run-to company in terms of integrity, delivery and affordable luxury.
Also in capacity growth, DME has also contributed to the empowerment of over 200 Nigerians directly and indirectly ensuring they are off the streets.
In DME we believe in building Values no wonder our MD was awarded youngest influencial real estate MD by igbere TV for the numerous work he has done.
9.Segun Abolaji
MD/CEO M.SC, MNIOB, MISPON
Segun is the founder of Leisure Court Estates Ltd. The company have built estates in Lagos, Abuja and Osun.
BLDR is a seasoned Builder, Safety Consultant, and Environmentalist.
He has first degrees in both Building Technology and Surveying & Geo-informatics and a Master’s Degree in Environmental Resource Management.
He is a licensed Builder, and a corporate member of the Nigerian Institute of Building, he is also a member of several professional bodies like the Institute of Safety Professionals of Nigeria.
Member, Association of Nigeria Geographers. Member, Onshore Offshore Oil and Gas professionals to mention a few.
He has over 15 years of experience with so many construction and survey projects to his credit.
10.Nasiru Ibrahim
Nasiru ibrahim is also under 40,An architect with over 15 years of experience as a consultant. A graduate of Architecture from Ahmadu Bello University, Zaria as well as an MSc holder in Project management from the University of Reading, United Kingdom.
His experience in architecture, project management, planning permissions, and construction working with a reputable consulting firm has helped his ability to deliver projects to the desired quality, on budget, and on time. In 2011 he Co-Founded Black Orchard Group as a company that develops real estate aimed at creating value in great locations. Black Orchard has delivered over 80 residential units and in the process of delivering over 240 within the next 2 years.
11.Nura DanMusa
Nura DanMusa Is the founder and Chairman Constrix Real Estate Company, a company he started born out of his passion to meet the housing needs of Nigerians.
With over a decade of experience in the real estate industry, a trained architect, Mr. Nura also holds an MBA from a prestigious Cypriot university. He is a recipient of many awards and accolades
Within a 10 year span of operations under his leadership; the company is on the brink of delivering 1000 housing units across Abuja and its environs. Notable projects include
- Constrix Cubes; ,Mabushi
- Cecile ,Ministers Hill Maitama
- Halima, Amazon Street Maitama
- Creed Estate, Mbora.
- Palm City, Life Camp
Just to mention a few.
12.Wole Olabanji
Wole has invested the last 19 years in various roles along the real estate development and management value chain, culminating in his founding of CoBuildIT Projects in 2015.
He began his Real Estate career in the Anambra State Housing Development Corporation as an Architect in 2004 before joining Abuja Investments Company limited in 2006. While in Abuja Investment, he worked as Executive Assistant to the MD of Abuja Property Development Company (A subsidiary company) where he was involved in project expediting for a large portfolio of PPP projects.
In 2008, he worked briefly with Niche Consort before joining Aso Investment and Development Company as Head, Design and Construction in 2009. Between 2011 and 2015, he took on a broad range of development management and capacity development roles, consulting for several MDAs as well as multi-lateral bodies like the DFID and GTZ.
He founded CoBuildIT Projects in 2015 to provide a collaborative platform for the procurement of middle-income housing. Over the years, having completed 5 projects and with some currently under development andin the pipeline, CoBuildIT has earned a stellar reputation as a reliable partner in the development of residential housing and Grade A commercial investment property.
As CEO, ‘wole leads in driving the vision of CoBuildIT to build a PropTech real estate value chain with innovative products in project finance (www.cobuildit.com), project procurement and management (www.usebnkle.com) and real estate asset management (www.usecaretaker.com).
- Olayinka Braimoh
Olayinka Braimoh is the CEO of Hall Seven Real Estate based in the Federal Capital Territory, FCT, Abuja.
His foray into real estate was not by chance and his strong belief in wealth creation through passive and multiple incomes was intentional and rewarding.
He founded Hall 7, one of Nigeria’s fastest-growing real estate firms in 2013 and has developed and delivered over 1.4 million square foot of completed projects in the last nine years.
