Co-investment in real estate can reduce Nigeria’s housing deficit—Lifecard boss

Co-investment as a real estate acquisition strategy can reduce Nigeria’s housing deficit as it opens up opportunities for investing in quality and affordable housing or in acquiring landed properties with ease, Grace Ofure Ibhakhomu, MD/CEO, Lifecard Investment, has said.

Ibhakhomu, who spoke at the launch of her two books on real estate investing, noted that Nigeria currently has 28 million housing units shortage, citing data from the Federal Mortgage Bank of Nigeria (FMBN). The two books are ‘There’s a Land for You’ and ‘Co-investments: Unlocking the Treasures in Hidden Places’.

She explained that the goal of co-investing which means collaborating with one or two other parties to invest money in a business or scheme is to increase their investment over time. She added that co-investing gives credibility to the idea that anyone can own land.

Ibhakhomu explained further that both books contained information on how to use her knowledge of co-investment as a means of acquiring landed properties.

“The truth is, everyone wants to be wealthy, and wealth is for every child of God,” she said, adding, “the book on co-investment is going to teach you the proven strategy that can actually start your real estate investment journey.”

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“’There is a Land for You’ connects readers to the fact that God created land for everyone; a lot of people believe that they will never be able to own a land, but the truth is that after reading this book, something will happen to you, and when you make up your mind, a land will come to you, because there is a land for everyone,” she assured.

“When it comes to real estate, it is your financial security; looking at the numbers, it is clear that many people have achieved financial security. Real estate is one investment that keeps you financially stable,” Ibhakhomu added.

In the same vein, Bamidele Onalaja, chairman of the Real Estate Developers Association (REDAN), Lagos State branch, stated that co-investing was one of the best, if not the best, way to acquire real estate.

“She has written these books to share her knowledge on co-investment success strategies,” Onalaja said, adding, “I’m going to read it several times so I can improve my real estate knowledge.”

Furthermore, the REDAN chairman noted that, despite rising building material costs and other challenges, the Nigerian real estate industry was thriving.

“We have so many developers coming up which is everyone’s prayer and which we love at REDAN because the housing deficit in Nigeria continues to grow, despite the number of developers we already have,” he said.

The author disclosed that the books were available on Amazon and in bookstores across the country, saying that they address and provide insights into how people can recognize real estate scams, avoid them, and invest with confidence.