Construction, real estate, others major contributors to growth in 2022’
The Construction and Real Estate Group of the Nigerian-British Chamber of Commerce has dissected the prospects of the construction and real estate sectors.
At the event, entitled: ‘Nigerian Economic Outlook 2022: Intersection with the real estate sector- Top real estate trends to watch’, the President and Chairman of Council of the Nigerian-British Chamber of Commerce (NBCC), Mrs Bisi Adeyemi, said the sector has been identified as a major contributor to the country’s economic growth this year.
“The major objective of this event is to examine the opportunities, challenges and indeed the threats in the real estate sector in 2022. The real estate sector showed positive Gross Domestic Product (GDP) growth in 2021 and has been identified as one of the sectors to look out for this year. We have assembled distinguished subject matter experts that will ensure we all leave here better informed,” she said.
On the 15 major trends to watch in the sectors, the Chairman of the NBCC Construction and Real Estate Group, Hakeem Ogunniran, said real estate thrives on the back of strong macroeconomic fundamentals and the 25 per cent homeownership rate in Nigeria reflects the challenging environment. Nevertheless, there are certain trends in the sector that will bear watching in the year.
“There will be regulatory and compliance intensity, with heightened title uncertainty in high profile locations. However, technology can be expected to take centre stage in the sector this year, with extremely strong growth prospects for growth in comfort homes, led by demand from first time home buyers, millennials, young families and empty nesters,” he added.
Source:Thenationalonlineng
Similar Topics
The Lagos State Government, through the Lagos State Physical Planning Permit Authority (LASPPPA),...
a month ago Read More
The Federal Government has expanded the Abuja-Kaduna-Kano Road project to incorporate a direct...
a month ago Read More
The Federal Capital Territory Administration (FCTA) has taken possession of Wadata Plaza, the...
a month ago Read More
Defaulters on FCT ground rent now have 14 days grace to pay up what they owe the FCT Administration...
a month ago Read More
Unprofessional practices by estate agents in major cities are significantly influencing the spike...
2 months ago Read More
A Real estate development firm, Lifecard International Investment Company, has revealed that many...
2 months ago Read More
Despite a fall in investment volumes from the 2021 peak, there is an ongoing desire for property...
2 months ago Read More
The Lagos State government has advised the leadership of the Nigerian Institution of Estate...
2 months ago Read More
Real estate market dynamics such as construction cost, land, finance, government policies and taxes...
2 months ago Read MoreEvent Set to Celebrate Managers Who Shape Careers and Drive Organizational Growth Business...
4 months ago Read More
Global Leaders to Converge in Lagos for Landmark Event Driving Urban Innovation and...
4 months ago Read MoreIn a bold move to redefine affordable luxury housing, Nigerian real estate giant Gtext Holdings has...
4 months ago Read MoreIndustry Experts Urge Anti-Corruption Measures, Innovative Financing to Address Crisis By: Oche...
4 months ago Read MoreLAGOS, NIGERIA – Global real estate consultancy Knight Frank and UK developer Mount Anvil...
4 months ago Read More
By Oche Onum Lagos, Nigeria As Nigeria’s real estate sector braces for 2025, rapid...
4 months ago Read More
By Oche Onum Abuja, Nigeria In a landmark move to combat climate vulnerabilities in urban...
4 months ago Read More
LAGOS, NIGERIA The Federal Government announced plans Wednesday to establish a Real Estate...
5 months ago Read More
According to The Guardian's investigation, 70% of Nigerian states rely on manual land...
5 months ago Read More
What is the Initiative? The Federal Government of Nigeria has unveiled an N100 billion private...
5 months ago Read More
Abuja, Nigeria’s gleaming administrative capital, has long symbolized hope for migrants...
5 months ago Read More