The Real Estate industry in Nigeria is rather too concentrated on urban areas than majorly focused on reducing the housing deficit appropriately through urbanisation of other parts of the country. Speaking further, Emeka J. Okonkwo, CEO of DIS SPACE LIMITED said, “The high rate of growth in number of residential developments and concentrated housing in the urban areas is only a mirage that is encouraged with Real Estate being the safest place to hold money in the present Nigerian economy.”
Mr. Okonkwo, holds and have proven track records that Commercial Real Estate is the only viable real estate investment in Nigeria, “Typically commercial properties offers more financial reward than residential properties. With an annual return off the purchase price between 9% and 14%, depending on the area in Lekki, the current Nigerian economy, and universal inflation rate keeps commercial real estate at top rank of viable real estate investments unlike residential home properties that only appreciates at 1% to 4% at best.”
With a focus on SHORTLETS among other facilities like a drive-through mall, restaurants, coworking and coliving spaces, Mr. Emeka Okonkwo holds and have been promoting the benefits of investing in commercial real estate in Nigeria over the last 8 years through his company, DIS Spaces. Currently creating a digital guide on investing in commercial real estate in Nigeria he has attended many podcasts and real estate investment related interviews where he still holds this notion with proven analysis. With a REIT (Real Estate Investment Trust) as a vehicle to drive investors to DIS Spaces, he has upcoming projects to keep proving this fact especially to people living in the Diaspora like himself.
Speaking about the role of his services he shares that, “As an hospitality related service, we aim at delivering a work life balance accomodation and workspace to our guests and this is in view of why and how our facilities are purposely built. Every guest has a found our facilities to be the best space for this.”