Why Nigerian real estate investors eye opportunities in other African countries
Experts have explained why real estate investors eye opportunities in other markets across Africa, targeting buildings and landed properties.
Tade Cash, managing director/CEO, Wealth Island Properties (WIP), a real estate development company, told journalists at an event the company hosted in recognition of their business partners and realtors at the weekend that investing in other African countries was easier than in Nigeria in terms of regulation.
WIP is a property development and environmental enhancement company focused on creating a beautiful environment with a world class lifestyle and experience and, according to Cash, the company has started full operations in three African countries –Botswana, South Africa and Ghana.
“To be candid, it is easier for us to run a real estate investment in other African countries than Nigeria because I don’t have anybody to disturb me once I commence my project. We don’t have an ‘Omonile’ problem and the rest of them. We just moved to Ghana, Kumasi precisely, and our operations will kick off fully at the end of this quarter in the three countries,” he said.
WIP, he said, was involved in building in South Africa while doing site and serviced schemes together with building in Botswana. In Ghana, they don’t have anything on ground yet but will kick off soonest.
Cash noted that more people were investing in real estate as a result of the Covid-19 experience which helped individuals to realize the worth of assets, adding that a lot of people have realized that assets are more than just a place of fantasy since after the Covid-19 pandemic.
“People want to own assets now because nobody knows what lies ahead,” he said, disclosing that WIP makes it easy for people to own houses by allocating land to investors at 30 percent deposit with the balance spread across six months or 12 months after development.
Cash disclosed further that WIP has been able to assist about 100 investors to secure properties in Lagos during the previous year and has hosted this event in recognition of those partners and also to reward realtors who have contributed immensely towards the success of the sector.
“We will be awarding cars to top realtors; we will also be sponsoring all paid trips abroad to seven realtors as reward for hard work,” he assured.