The status of the real estate sector as one of the best performing sectors in the country is in no doubt and is readily acknowledged by Nigerian economists and investors, local and international, that are interested in safe investment in the country.
These salient fact was recently reinforced by the number of real estate firms that made the list of Top 100 Small Medium Scale Enterprises (SMEs) in Nigeria recognised at the BusinessDay SMEs 100 Conference and Awards 2022, on Friday, January 20, 2023, in Lagos, where no less than seven real estate firms made the Top 60 cut.
Real estate firms such as Elan Orris Real Estate Ltd, founded by Dr Abayomi Alo, Dukiya Investment Limited, co-founded and run by Lukman Olawale Shobowale, and Cedarwood Luxury, owned by Dr Julius Oyedemi, were in the prestigious list. Others include Landbank Homes Limited, Luminous-Hills Investments Ltd, Zumera Property Development LTD and Darren Davies Properties, owned respectively by Paul Olajide, Aleriwa Oluwatosin, Lucky R. Erherha and Darren David, completed the top 60 list.
The Top 100 Small Medium Scale Enterprises (SMEs) list, formerly known as the Top 100 Fastest-Growing SMEs Awards, is the brainchild of BusinessDay Media Limited.
The list, released annually, recognises and celebrates the impact and achievement of SMEs, particularly those that weather the storm of severe economic challenges to become outstanding.
While there are SMES from other sectors, notably media, tech and education services, the prominence of real estate firms is an indication of the growth of the sector.
Many Nigerians seeking to invest in business would consider Lukman Olawale Shobowale or Paul Olajide’s Real estate company a veritable option. This has consequently led to the growth of the sector with new companies debuting every years and posting spectacular performances.