Login Register
feel free to call 09056000005

Real Estate's Potential to Drive Foreign Direct Investment: Unlocking Opportunities

Abuja-based real estate firm, Mshel Homes Limited has urged President Bola Tinubu to transform the real estate sector by introducing reforms capable of improving local and foreign investors’ participation.
The firm noted that real estate has the potential to boost Foreign Direct Investment (FDI) and engender socio-economic growth if the enabling environments are provided.
Chief Executive Officer/Group Managing Director of the firm, Mr. Barka Mshelia, said this at the opening of multi-billion-naira Lisa Suites in Asokoro, Abuja. He observed that numerous opportunities could be harnessed through the sector, especially in Abuja if needed reforms are introduced.

He said: “I’m anticipating new opportunities in real estate. The new administration should bring about foreign investments and increase economic activity in Abuja and Nigeria at large, irrespective of the limitations on ground.”
Mshelia said the group is introducing smart houses in the hospitality industry. “The hospitality industry has a lot of potential; people are looking for places where they can relax. Prices of property and accommodations in Abuja have surged because there’s scarcity of quality houses,” he added.
 
On his part, Chairman of the board, Lisa Suite, Dr. Musa Tarimbuka, said the hospitality industry in Nigeria is growing, while the gap in the sector requires improved investment and more projects to meet the demand in the market.
MEANWHILE, Aso Savings and Loans Limited plans to construct 2,500 homes in Niger State, outskirt of the Federal Capital City, Abuja. The project, known as Zuma Rock smart city, will be sited on 150-hectares of land and consist of 228 units of one-bedroom semi-detached bungalows, 378-units of two-bedroom semi-detached bungalows and 238 units of three-bedroom semi-detached bungalows.
Managing Director of the firm, Hajiya Risikatu Ahmed, who disclosed this in Abuja, said about 708 houses would be constructed in the first phase. She explained that the project would have amenities such as schools, fire stations, a police station, well-paved roads, green areas and renewable energy sources. Ahmed said funds for the project were already available, adding that construction work will commence soon.
 
 
Source: Guardian.ng

Similar Topics

Nigeria’s digital real estate company, Sytemap, has raised concerns over the ongoing trust...

4 days ago Read More

Governor Babajide Sanwo-Olu of Lagos State has urged for more investment to address the persistent...

5 days ago Read More

Housing sector stakeholders have raised concerns that the rising interest rates in the country are...

5 days ago Read More

Lagos State Governor, Babajide Sanwo-Olu, has emphasized the significance of innovation,...

15 days ago Read More

The Association of Private Practicing Surveyors of Nigeria (APPSN), a subgroup of the Nigerian...

15 days ago Read More

Nigeria has been admitted into WorldSkills International, marking a historic milestone in the...

19 days ago Read More

The Federal Government has launched the Ministry of Finance Incorporated Real Estate Investment...

19 days ago Read More

The National Board for Technical Education has inaugurated the Sector Skill Council for...

26 days ago Read More

The Environmental Defense Fund has partnered with Africa Practice to combat climate change in...

27 days ago Read More

The Minister of Housing and Urban Development, Ahmed Dangiwa, has reiterated the crucial role of...

28 days ago Read More

The Real Estate Developers Association of Nigeria has announced initiatives aimed at enhancing...

a month ago Read More

The Global Environment Facility has approved $3.28m to tackle land degradation in Kebbi State under...

a month ago Read More

The commercial real estate market is currently grappling with several major challenges, including...

a month ago Read More

Real estate development is a key driver of economic growth in any region, and Africa is no...

a month ago Read More

The Federal Government has signed a Memorandum of Understanding with Shelter Afrique...

a month ago Read More

The Federal Government has issued a 90-day deadline for subscribers of the National Housing...

a month ago Read More

The Minister of Housing and Urban Development, Ahmed Dangiwa, has disclosed that plans are underway...

a month ago Read More

A real estate firm, Gestpoint Nigeria Limited, has implored the Federal Government to simplify the...

a month ago Read More

Ahmed Dangiwa, minister of Housing and Urban Development, has said that unlocking Nigeria’s...

a month ago Read More

Experts in the built environment have emphasized that effective urban planning and infrastructure...

a month ago Read More