Monroe Realty, a young but dynamic player in Nigeria’s burgeoning real estate market, is increasingly rising above the country’s present economic tide, leveraging its focused leadership to navigate the promising future which the market presents.
The company believes that Nigeria is undergoing a transformation by reason of the on-going economic reforms of the federal government, believing that inflation in the country, which peaked at 34.19 percent in June 2024, will moderate significantly to 25 percent by year end.
“For Manroe Realty, this moderation in inflation, to be driven by recent government policies, provides a more stable environment for investment and development,” John Edumoh, the company’s chief executive officer, noted in a statement obtained by BusinessDay.
“We are witnessing a critical turning point,” Edumoh noted further, adding, “the anticipated easing of inflationary pressures allows for better cost forecasting, which is crucial for our projects’ success and profitability.”
Manroe Realty sees government’s infrastructure projects as promising developments, citing the Lagos-Calabar Coastal Highway and Sokoto-Badagry Highway which, it believes, are set to enhance connectivity across 16 states, opening up new areas for development more so as infrastructure is the bedrock of real estate.
According to Edumoh, improved access not only boosts property values but also spurs economic activities in previously underdeveloped regions, disclosing that his company is actively exploring opportunities to expand its portfolio in the emerging markets.
The government’s commitment to providing affordable housing as reflected in the Renewed Hope City and Estate project, aligns perfectly with Manroe Realty’s mission which has a plan to build 100,000 housing units that promise to alleviate housing deficit and stimulate economic growth.
“We are excited to support and be a part of this transformative journey. Our focus on quality and sustainable, smart housing solutions will meet the needs of a diverse population, from low-income families to middle-class professionals,” the chief executive assured.
He pointed out, however, that despite positive trends, the Nigerian economy faces challenges, including persistent high food prices due to agricultural production issues and a predicted decline in private consumption by 2.5 percent in 2024.
But he sees these challenges as opportunities for innovation, noting that current economic environment requires adaptability. “We are developing strategies to offer flexible payment plans and affordable housing options, ensuring that we cater to the evolving financial capabilities of our clients,” he said.
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Edumoh noted that the removal of the petrol subsidy and the liberalisation of the exchange rate, though initially contributing to inflation, are setting the stage for a more robust economy, adding that the reforms, coupled with a projected 7.0 percent growth in fixed investment, are encouraging signs for the real estate sector.
He noted further that the changes in the economy create a more predictable business climate and his company is confident that the resulting economic stability will attract both local and international investors, boosting the real estate sector.
Though foreign direct investment (FDI) remains subdued, particularly outside the hydrocarbons sector, Edumoh sees this as an opportunity for Manroe Realty to strengthen local partnerships and leverage domestic resources, stressing that local expertise and partnerships are invaluable.
He assured that the company is focused on building strong relationships within Nigeria to drive growth and innovation in their projects.
He sees Dangote Refinery as another bright spot for Nigeria’s economy, expected to reduce the trade deficit in refined liquids and boost domestic fuel availability. This development, he added, is poised to lower logistics and construction costs, benefiting real estate projects.
“The ripple effects of the refinery’s output will be felt across various sectors, including real estate. We anticipate increased demand for commercial and industrial properties, especially in regions benefiting from reduced fuel costs,” Edumoh said.
Edumoh’s leadership of Manroe Realty is characterised by a forward-thinking and strategic approach and a commitment to excellent details. As Nigeria’s real estate market navigates these transformative times, the company remains dedicated to providing high-quality, smart, sustainable housing and commercial spaces.
“Our mission is to contribute meaningfully to Nigeria’s growth,” he reveals, assuring, “by staying agile and responsive to market trends, we aim to not only meet the current demands but also anticipate future needs, ensuring long-term value for our stakeholders.”
He assured further that, with a strategic focus on infrastructure, affordability, and innovation, Manroe Realty is not just adapting to the changing economic landscape, but also joining in shaping the future of real estate in Nigeria.
