In this interview, Tosin Olatujoye, the Group CEO (GCEO) Zylus Group, spoke about initiatives aimed at bridging gaps in the Nigerian real estate that present opportunities to innovate housing solutions and create pipelines of emerging talents. He further explains that the real estate industry in Nigeria can thrive; contribute significantly to economic development and job creation by fostering a conducive business environment. JOHN SALAU brings the excerpts:
With your experience in real estate, what critical gaps have you perceived in the industry?
I have seen or perceived several critical gaps in the real estate industry. One of the significant gaps is the limited access to affordable housing options for the growing population, particularly in urban areas. This gap presents an opportunity to innovate and develop solutions that cater to the housing needs of various segments of society. Another crucial gap is the lack of transparency and efficiency in property transactions and management. I have recognised the need for digitalisation and modernisation of real estate processes to streamline operations, enhance customer experience, and promote trust and accountability within the industry. Furthermore, there is a gap in knowledge and skills among emerging real estate professionals, especially in areas such as financial management, market analysis, and sustainable development practices. My team and I aim to bridge this gap by providing mentorship, training, and networking opportunities through initiatives like the Tosin Olatujoye Business Network and the Tosin Olatujoye Foundation. Overall, my perception of these critical gaps drives his commitment to implementing innovative strategies, fostering collaboration, and empowering stakeholders to address these challenges and unlock the industry’s full potential.
As an industry player; what effort are you making to close identified gaps?
For me investment in affordable housing is sacrosanct as this is the way to go for the industry and business in order to help the country reduce housing deficit. I am investing in initiatives that promote affordable housing options for various income levels. This includes the development of cost-effective housing projects and exploring innovative financing models to make homeownership more accessible. Over the years I have come to understand the power of technological Innovation. Recognising the importance of digitalisation, I am actively investing in technological solutions that enhance transparency, efficiency, and convenience in property transactions. This includes adopting digital platforms for property listings, virtual tours, and online payment systems to streamline processes and improve customer experience.
Of Course, you know I am keenly interested in empowering people through education, at least people around me can attest to this. Now, no nation in the present world can survive without education and capacity building for its people. Having recognised these gaps, I am dedicated to closing the knowledge and skills gap in the industry by supporting educational programs, workshops, and training sessions. These initiatives focus on empowering emerging professionals with the necessary tools and expertise in areas such as financial management, market analysis, and sustainable development practices. Over the years that I have played actively in this industry, collaboration and advocacy must be taken to the next level. Also, I am actively involved in industry collaborations, partnerships, and advocacy efforts aimed at addressing regulatory challenges, promoting best practices, and advocating for policies that support the growth and development of the real estate sector.
As an entrepreneur with over two decades of experience in real estate, what has kept you inspired so far in the industry?
As a founder and visionary leader with over two decades of experience in real estate entrepreneurship, I found inspiration in several key aspects of the industry. One, I am driven by a passion for innovation and creativity within the real estate sector. As a person I am constantly seeking out new ideas, technologies, and approaches to enhance processes, improve efficiency, and deliver exceptional value to clients and stakeholders. Secondly, at this stage of my career, above any other thing, I am more committed to being able to conceptualise and execute impactful real estate projects that positively impact communities has been a source of inspiration. Whether it’s developing affordable housing solutions, creating sustainable developments, or revitalising urban spaces, I find fulfillment in projects that make a difference. Thirdly, the ever-evolving nature of the real estate industry fuels my desire for continuous learning and personal growth. I see challenges as opportunities to expand my knowledge, acquire new skills, and stay ahead of industry trends and developments.
However, I am driven by inspiration from empowering others, especially emerging entrepreneurs and professionals in the real estate sector. Mentoring, coaching, and sharing knowledge and experiences has contributed to my sense of purpose and motivation. Having a clear vision for the future of the industry and setting ambitious yet achievable goals serve as a driving force for me. I’m inspired by the potential to create lasting impact, drive positive change, and leave a legacy of excellence in the real estate entrepreneurship space.
Read also: Zylus Group bridges housing deficit with innovative, sustainable solutions
Why did you initiate the Tosin Olatujoye Business Network; also, what are the benefits for becoming a member?
As a major player in the Nigerian real estate industry, I made the decision to initiate the Tosin Olatujoye Business Network to create a platform that fosters collaboration, growth, and success for professionals and entrepreneurs in the sector. The benefits of becoming a member of this network are manifold: It will provide networking opportunities for members of the Tosin Olatujoye Business Network to gain access to a diverse and influential network of industry experts, investors, partners, and stakeholders. This provides valuable networking opportunities, potential collaborations, and business connections that can lead to new ventures and growth opportunities. I discovered that Knowledge Sharing in the industry is very germane and crucial. The network serves as a hub for knowledge sharing, insights, and best practices within the real estate industry. Members can participate in seminars, workshops, and educational events to stay updated on industry trends, regulations, and innovations, enhancing their skills and expertise. Aside from the above, business development platforms are very important for any aspiring entrepreneurs. Membership in the Tosin Olatujoye Business Network opens doors to potential business development opportunities. Members can showcase their projects, services, and expertise to a targeted audience, attracting potential clients, investors, and partners to support their growth and expansion initiatives.
Nobody can survive in today’s world of business without access to resources: The network provides access to resources, tools, and resources that can benefit members in their business endeavours. This includes access to funding sources, market research data, legal and regulatory guidance, and industry-specific insights that can facilitate informed decision-making and strategic planning. Mentorship and support is what I am committed to fostering within the network. Members can benefit from mentorship programs, peer-to-peer support, and guidance from experienced industry professionals, accelerating their learning curve, and overcoming challenges more effectively. So, the purpose is for every member to have visibility and branding opportunities. Being a part of the Tosin Olatujoye Business Network enhances the visibility and branding of members’ businesses. Through networking events, media coverage, and promotional opportunities, members can increase their visibility in the industry, build their reputation, and attract potential customers and investors. In summary, the Tosin Olatujoye Business Network offers a platform for networking, knowledge sharing, business development, access to resources, mentorship, and visibility, empowering members to thrive and succeed in the dynamic real estate industry landscape.
When was this initiative created and what are the modalities of joining the network?
The Tosin Olatujoye Business Network will be launched on July 20th, 2024 and it will grow into a dynamic community of industry professionals. Joining our network is a straightforward process designed to ensure that members align with our vision and contribute positively to the community. To join the network, interested individuals or businesses can follow these steps: Complete the online application form available on our website. The form typically requests basic information such as name, contact details, company name (if applicable), industry experience, and a brief statement of interest. Our network welcomes professionals from various sectors related to real estate, including developers, investors, agents, brokers, architects, contractors, legal advisors, and financial experts. Applicants should possess relevant qualifications and experience in their respective fields. Once the application is submitted, our membership committee reviews the applicant’s qualifications, industry contributions, and alignment with our network’s values and goals. This process ensures that members are committed to professional excellence and collaboration within the community. Upon successful review, applicants receive notification of their membership approval. This may include details about membership benefits, networking events, resources, and opportunities available within the network. The network has a membership fee or dues associated with joining. This fee helps support the network’s activities, events, and resources provided to members. New members undergo an orientation or onboarding process to familiarize themselves with the network’s policies, benefits, events, and member resources. It’s an excellent opportunity to connect with fellow members and start building professional relationships. Overall, joining the Tosin Olatujoye Business Network offers a wealth of benefits, including networking opportunities, industry insights, professional development, and access to a supportive community of like-minded professionals.
What complementary role will the Tosin Olatujoye Foundation (TOF) play in training and empowering entrepreneurs in the industry?
The Tosin Olatujoye Foundation (TOF) plays a vital complementary role in our mission to train and empower entrepreneurs in the real estate industry. I cannot itemise so many key initiatives and roles that the TOF performs in line with other initiatives I drive. The TOF organises and conducts entrepreneurship training programs tailored to the needs of aspiring real estate entrepreneurs. These programs cover essential topics such as business planning, financial management, marketing strategies, legal aspects, and industry trends. By providing practical knowledge and skills, the TOF equips entrepreneurs with the tools they need to succeed in the competitive real estate sector. Through TOF, we want to facilitate mentorship opportunities where experienced industry professionals’ mentor and guide emerging entrepreneurs. This mentorship helps entrepreneurs navigate challenges, make informed decisions, and accelerate their business growth. Through one-on-one sessions, workshops, and networking events, the TOF fosters a supportive environment for learning and collaboration.
The TOF provides access to resources such as funding opportunities, business development tools, market research data, and industry networks. These resources are instrumental in helping entrepreneurs launch and scale their real estate ventures effectively. Additionally, the TOF collaborates with financial institutions, investors, and other stakeholders to facilitate access to capital and investment opportunities for entrepreneurs. TOF will actively engage in community building initiatives by organising networking events, forums, and conferences that bring together entrepreneurs, investors, industry experts, and policymakers. These platforms enable knowledge sharing, collaboration, and the exchange of ideas, ultimately strengthening the real estate ecosystem and fostering innovation.
Key to our vision as an organisation is to always seek ways to look beyond business development and so the TOF is committed to social impact initiatives that benefit communities and promote sustainable development. This includes initiatives such as affordable housing projects, community empowerment programs, environmental sustainability efforts, and philanthropic activities aimed at improving the quality of life for underserved populations.
What motivated the title of your new book ‘Audacity’?
The motivation behind writing my upcoming book ‘Audacity’ stems from a deep-seated passion to inspire and empower individuals to reach new heights of success and fulfillment. Over the years, I have encountered numerous challenges and triumphs in my journey as an entrepreneur and business leader. I believe that sharing these experiences, insights, and strategies can offer invaluable guidance to aspiring entrepreneurs, professionals, and anyone seeking to unleash their full potential. The title ‘Audacity’ reflects the boldness and courage required to pursue ambitious goals, overcome obstacles, and transform visions into reality. Through this book, I aim to encourage readers to embrace audacious thinking, take calculated risks, and seize opportunities with confidence. I want to challenge conventional wisdom, spark innovative ideas, and ignite a mindset shift that empowers individuals to break free from limitations and achieve extraordinary results.
Moreover, ‘Audacity’ is not just about personal success but also about making a meaningful impact on society. I believe that by sharing stories of resilience, perseverance, and innovation, we can inspire positive change, foster entrepreneurial spirit, and contribute to building a brighter future for generations to come. This book is my way of giving back to the community, sharing knowledge, and leaving a legacy of empowerment and excellence. Ultimately, my motivation for writing ‘Audacity’ is to inspire, educate, and empower individuals to dream big, take bold actions, and create a legacy of success and significance. I am excited to share this journey with readers and empower them to embrace audacity in all aspects of their lives.
Finally, what do you consider the future of real estate in Nigeria as you begin to lead these emerging real estate entrepreneurs?
The future of the real estate industry in Nigeria holds immense promise and potential. With rapid urbanisation, population growth, and increasing demand for housing and commercial spaces, the industry is poised for significant expansion and development in the coming years. Emerging technologies such as blockchain, artificial intelligence, and virtual reality are revolutionising the way real estate transactions are conducted, enhancing transparency, efficiency, and accessibility. These innovations are likely to reshape the industry landscape, making processes more streamlined and customer-centric.
Furthermore, sustainable and eco-friendly practices are gaining traction, driven by global awareness of environmental issues and the need for energy-efficient infrastructure. This shift towards green building practices and sustainable development is expected to play a pivotal role in shaping the future of real estate in Nigeria, promoting eco-conscious design, resource optimisation, and long-term sustainability. Collaboration and partnerships within the industry, as well as with government agencies and stakeholders, will be key drivers of growth and innovation. By fostering a conducive business environment, promoting investment opportunities, and implementing supportive policies, the real estate sector can thrive and contribute significantly to economic development and job creation.
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