Adedayo Akinwale in Abuja

The Chief Executive Officer of Hall 7, one of the leading estate developers in the country, Olayinka Braimoh has urged both local and international investors to view the country’s housing deficit not as a burden, but as an untapped economic opportunity.

Speaking at the Africa International Housing Show held at the Transcorp Hilton, Abuja, Braimoh offered a clear and strategic roadmap for unlocking the immense potential within Nigeria’s real estate sector.

Braimoh in a statement issued Thursday by Hall 7 Team Lead, Strategic Marketing and Communications, Adaeze Chijioke, noted that despite the sector’s steady annual growth rate of over 3.5 per cent, a vast gap exists between supply and demand, making it a lucrative frontier.

Braimoh emphasised that innovation in real estate must extend beyond construction to drive industrial growth and streamline processes.

He advocated for regulatory bodies to embrace digital transformation, specifically by adopting online platforms for submitting, reviewing, and approving development proposals.

This, he argued, would enhance efficiency, reduce the current lack of transparency and predictability, and allow for approvals in as little as 10 to 20 days.

Braimoh called for the implementation of technology to monitor urban development, enabling city offices to track changes in building structures in real-time.

He said: “This innovation, he noted, would not only improve development processes but also have a direct, positive impact on the economy.

“By reducing the time developers spend on approvals, a significant amount of capital could circulate more rapidly, benefiting the entire economic ecosystem.

“While the Nigerian real estate sector’s growth has been steady, with an average annual growth rate of over 3.5 per cent, there is still a wide gap between supply and demand, particularly in the premium and middle-class segments. Forward-thinking developers who prioritize quality, timely delivery, and innovative solutions will be the most successful.”

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