Speaking at the recently held West African Property Investment Summit (WAPI) 2017 in Lagos, where Broll was the platinum Sponsor, Bolaji Edu, CEO of the company noted that Nigeria has proven itself to be a power house in West Africa and has great potentials to attract investors.
He noted that it is time for the country to diversify to other sectors of the economy and real estate has proven to be a viable sector to attract investors from Africa and other parts of the world. Edu stated further that “the fund managers and asset managers with the property skill sets are able to drive excess returns. Essentially, we have good quality grade A stock which are developed by local investors and international private equity firms as well but we will have stabilized returns going forward in many areas that the markets in West Africa is targeting.”
He spoke further during a panel discussion on the potentials of growing the pool of domestic capital into real estate. “Generally, investment focus has been in the Grade A commercial office and retail sectors. What we are yet to see is the development of good quality Grade B or Grade B plus investment which istargeted at the domestic occupier market and domestic institutional investors.”
He also noted that we need to look to rebalance the economy and improve domestic manufacturing output. Together with infrastructure improvements, this will open up more sectors for investment including logistics and warehousing.” Edu submitted.
Broll Property Grouphas been the platinum sponsor of the WAPI Summit since inception in 2015.