Following the recent demolition of several houses within the Amuwo Odofin Local Government Area by officials of the Federal Housing Authority for allegedly contravening housing and development regulations, Emmanuel Obiutom Jonah, chairman and founder of Obiman Group, has explained how developers can avoid losing their houses to demolition.
Jonah advised fresh developers in Lagos, especially those of Igbo descent to conduct thorough market research, stay updated on local regulations, and build a reliable network within the real estate community to avoid losing properties to the government.
“Demolition of houses in Lagos State is a concern for both investors and Nigerians. It raises worries about property stability and investments. As a realtor company, navigating this situation involves staying informed, reassessing risks, and adapting strategies to address uncertainties in the real estate market.
“Fresh developers need to understand the unique dynamics of the Lagos real estate market, have a solid business plan, and foster good relationships to be successful developers,” he said.
Giving insight into his career progression, Jonah said having a humble background played a vital role in making him a successful businessman and building his journey to entrepreneurship.
“My interest in tech business and real estate sparked from a desire to leverage opportunities for growth and stability. The transformative impact of technology inspired my interest while the tangible nature and long-term investment potential of real estate caught my attention, offering a pathway to financial security. This journey reflects my aspiration to navigate beyond humble beginnings, finding avenues for success and impact in both the dynamic tech industry and the stability of real estate.
“As the person who oversees subsidiaries like SmartBest Technology and Luxecraft Interior, I have come to understand that crafting our brand involved a meticulous alignment of values with market demands,” Jonah said.
According to him, one of the most challenging sacrifices in the growth journey was the time invested to guarantee success.
On the things that influenced his career path, Jonah said: “My career path was shaped by the dynamic landscape of the technology sector and the enduring stability of real estate. The rapid evolution and transformative power of technology have been compelling forces that inspired me to navigate the complexities of the tech industry. These influences guided my journey as CEO of technology and real estate companies.
He identified strategies such as assembling a dedicated team, ensuring a harmonious blend of aesthetics and functionality, continuous learning, dedication to innovation, understanding of evolving market needs, a passion to create a lasting impact and maintaining an unwavering commitment to excellence as measures needed to navigate tech landscape and address market dynamics in Real Estate and Interior Décor industries.
Jonah, who also has an interest in the entertainment and music industry, said that YC Records, which is part of the Obiman Group, is a record label that currently has talented artistes such as Lucid Vibr, whose extended play (EP) is available on all streaming platforms.
In terms of the future of YC Records in the Nigerian music industry, he said, the music firm is committed to nurturing and promoting exceptional talents.