Blessing Ibunge in Port Harcourt
Nigeria can unlock up to 95 per cent of its largely untapped real estate potential and attract massive investment into the sector if the country strengthens regulation, builds investor trust and digitises land administration, the Mayor of Housing, My-ACE China, has said.
China, Chairman of the Mayor of Housing Group, spoke against the backdrop of a recent global real estate report which valued Nigeria’s property market at about $2.6 trillion, making it Africa’s largest, while the continent’s total real estate value was put at $17.6 trillion.
He described the figures as a wake-up call for Nigeria, arguing that the country has exploited only about five per cent of its real estate assets.
According to him, Nigeria’s property sector could experience an unprecedented surge as global markets become saturated and investors increasingly seek new opportunities.
