MD/CEO, Afriland Properties PLC, Uzo Oshogwe, recently granted Africa Club Magazine an exclusive interview. In this interview, she discussed the challenges that face Nigeria’s property market, drivers, growth and even opportunities in the midst of the economic downturn.
Q. How is the Nigerian Real Estate sector affected by the current economic downturn? Are people optimistic or is it doom and gloom?
Though it may be in crisis, Nigerian economy is not severely damaged. Real Estate professionals and even investors are optimistic. In the midst of the downturn, numbers are still shooting up and the future is promising. The industry still boasts of 10% annual growth, a market value of N6.5 trillion in 2015 and an anticipated $13.6 billion investment in 2016.
In any economic downturn, there is an opportunity. The opportunity here lies in the ability to revolutionize and persevere.
Click below to read the full interview on pages 3 and 4.