Stakeholder Expresses Optimism Over Real Estate Growth

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L-R: Guest of Honour, Pa Ifedayo Akintunde, Guest Lecturer, Prof. Emilolorun Ayelari, Chairman, Nigeria Society of Engineers (NSE), Ibadan branch, Mr Adedamola Falade-Fatila, representative of NSE President, Mr Oluyemi Morakinyo and representative of Idmon Engineering Limited, Mr Oluyemi Oni, during the annual presentation of awards and induction of new corporate members of NSE in Ibadan, recently.

A stakeholder in the real estate industry, Mr Oladipo Ogundele,’’ has expressed optimism in the growth potential of the sector.
Odundele, who spoke to The Tide in an interview, Monday in Port Harcourt, noted that the sector plays an important role in the growth of Nigerian economy.
According to him, ‘‘real estate has contributed to the nation’s Gross Domestic Product (GDP), particulary in 2018’’.
Odundele, a real estate developer, reasoned that, when compared to other years, the industry grew by 39.1 percent 2018, saying, ‘‘this is significant and the growth is expected to the contininuous’’.
‘’ players in the built environment shall soon be smiling to the bank as they being to received returns on their investment because last year more landed properties were sold bought and as we know land never depreciate it only appreciate.
The uncertainties in the nations economy notwithstanding, there’s still going to be a windfall for investors in the real estate sector’’.
He explained that in spite of the seeming lull in the sector, investors in real estate are likely to experience better returns this year, observing that there’s going to be improvements in the economy, ‘’ now that the elections have come and gone.
Furthermore, Odundele, stated that due to its potentical to create jobs, the nation’s economy would be significantly impacted, through revenue generation.
He said, that activities in real estate would indirectly stimulate the economy through the value added impacts of the purchase of goods and services emanating from the real estate related transaction’’.

 

Tonye Nria-Dappa