Michael Shobukola, the chief executive officer of Strongmas Residence & Development Limited has affirmed that the company is in the real estate to change the narratives in the industry, especially in Lekki with quality and affordable houses.
Shobukola said Strongmas Residence and Development Limited is a real estate development and investment company known for customer satisfaction and delivery of quality products and services.
He disclosed this at the OMINI groundbreaking event organised by Strongmas Residence and Development Limited held in Lekki Phase 1 of Lagos State on Wednesday, April 27.
“Omini was originally envisioned as a residence for the nobility. Today, the discerning will find living and playing in the Omini by Strongmas no less elegant, sophisticated, etc. We are bringing Banana Island to Lekki.
“We are a company that believes in premium preservation. We believe in doing things right and well. We believe in quality, giving people value for their money,” Shobukola said.
He assured investors that Strongmas will deliver the housing project at Lekki within 18 months. Besides, he promised that quality will not be compromised in course of the project.
He noted that many instances of collapsed buildings are as a result of not following the rules and not employing professionals.
“Integrity is paramount to us; it is our currency in doing business.
“People fail to follow the guidelines and engaging professionals in executing every project is strategic to curbing the incidences of collapsed buildings,” he noted.
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Moses Ogunleye, the managing director of MOA Planners Limited in Lagos in his presentation titled “The Impact of Real Estate in Economic Development” stated that real estate has for many years been playing a critical role in the development of many economies in the world.
He cited the United States of America and Canada as good examples of countries where real estate business is contributing largely to the Gross Domestic Products (GDP) up to 15 percent and 19 percent respectively.
“Globally, the real estate sector is one of the most profitable of every economy. It is one of the indices of measuring the level of economic growth of a society.
“As a sector, it mirrors the economic viability and sustainability of an economy, as well as poverty level,” he said.
In encouraging Nigerians to invest in the real estate sector, Ogunleye drew the attention of the audience to what the sector is like in the United Kingdom (UK).
“The sector gave jobs to 542,000 people, generating over ₤68.1 billion in turnover in 2020. Investment in commercial real estate in 2021 amounts to ₤2.12billion GBP. The value of the residential property is ₤6.8tillion and the price of house change by 10percent every 12 months,” Ogunleye pointed out.
Drawing a comparison of what the scenario is in Nigeria, Ogunleye noted that the Nigerian real estate sector has gone through a lot of development trends.
It is a profitable sector in which many individuals and corporate bodies have invested. The real estate contribution he said to the GDP of the country increases from the insignificant figure of 2percent in 2008 to about 4.0percent in 2020.
He regretted that the real estate sector in Nigeria seems to be disorganised in comparison with the market for stock and bonds.
According to the industrialist, “This is due to the unique nature of real property as a commodity. The private sector and individuals are the main biggest players in the real estate market, having over 90percent of residential property owned by individuals.”
Adeyemi Ogunseye, the executive director in charge of corporate banking and business development of Keystone Bank in an interview explained that the bank as a responsible institution in the financial industry is in partnership with Strongmas because of the belief that the bank should support its customers who are into a business that would develop the nation and also cater for the welfare of the citizens in a responsible manner.
“He has done many projects which we partnered before. We know that he has the expertise and taste for quality. It is our small of contributing to GDP and economy development of the nation because the project will offer employment to so many people during and after development,” Ogunseye stated.
Strongmas Residence and Development limited, a real estate development and investment firm is a member of the Strongmas Group, a group of companies known for its customer satisfaction and quality delivery services and products.
It was borne out of the lacuna created by the firm’s partnership with some estate developing companies as regards quality and timeous delivery of projects.
