Amidst surging costs arising from petrol price hike and unfavourable macro-economic conditions, some real estate companies are soldiering on, putting products on the market, bridging housing gap and impacting the sector positively in other ways.
One of such companies is PWAN Perfection, an affiliate of PWAN Group which, despite Nigeria’s parlous economy, has been bridging housing gap by enabling property acquisition in the premium market.
“Now we have excess in the market. Our overhead is there but we have been able to leverage on more properties we have and our expansion is going on daily. People still buy property and overcome the challenges. We have seen the sector thrive amid all challenges,” William Aimakhu, the company’s CEO, said.
Aimakhu, who spoke at an event they hosted at the Marriot Hotel Lagos recently, said the company aimed to drive hard work and consistency by rewarding the time and effort sales agents also called PWAN Business Owners (PBO) put in keeping the business running.
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This explains why the company gave out a brand new SUV Ford Explorer 2012 Limited Edition and a brand new Toyota Corolla to deserving realtors as incentives while others went home with luxury incentives like television, mobile phones and others which were also aimed to enhance their trust in the brand after earning commissions for sales.
“We are an affiliate of the PWAN Group as a whole and we have a system where we have independent marketers who take the system and market it and get their commission. This way, we have been able to employ more people which is a way of tackling unemployment in the country,” he said.
He commended the services of the realtors who have worked to ensure the success of the company while encouraging them to do more.
“This event is not just about celebration, but also about recognising the impact you’ve made on the lives of countless individuals and families. It’s a reminder that success is not a solitary pursuit, but a collective journey that thrives on collaboration, innovation, and shared aspirations,” he noted.
He disclosed that there were plans to expand more within and outside the country, providing affordable land and housing to ensure every single Nigerian owns a piece of property and bridge the housing deficit in the county with a long-term plan of having about a thousand units in the country in the next three years.
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He added that the company had properties under construction and hoped to hand over keys to buyers before the end of the year despite the economic situation of the country.
Aimakhu is, however, not unmindful of the impact of the economic challenges on businesses including real estate firms most of which have taken into consideration costs arising from fuel price hike and inflation.
“If we were spending N1 million on mobility before, now it’s about N3 million. This has caused our cost of operation to rise significantly, ” he said.
“You cannot start increasing property prices because they are still fairly the same, but not marching up with the cost of sales. This is a particular challenge, but we expect that, with the new government, things will turn around,” he said.
