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Business News of Tuesday, 10 January 2023


Property investments will boost economy - Stakeholders

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Stakeholders in the real estate sector have stated that property investment would boost the country’s economy this year.

The Chief Executive Officer of Wealth Island Properties Africa, Akintade Esan, argued that the real estate sector is one of the viable options available to investors, adding that the Nigerian economy was not as worse as projected by some.

He noted, “I have two degrees in Economics and that positions me to be able to analyse the impending economic situation. This is against the parameters that have been laid out by experts.

“Nigeria is not in dire straits as most people think and are predicting. The economy will defy the dynamics that most people are used to, and that is where the confusion starts to form. However, some investment options have proven over time to be more predictable in difficult times like this.”

According to him, the government’s struggle to solve the housing problem for a growing population was already challenged in the face of the hydra-headed social, security, and electoral situations that the new year posed.

He added that a property investment gives an assurance of stability and the highest possible return on investment because it comes as a practical value and solution to the problem the country is currently facing.

He added, “In times such as this, money doesn’t reduce in circulation. It only moves from one sector to another sector, where its value is best appreciated. Property and housing for the under-served environment such as Nigeria give investors an advantage.”

Esan noted that seasons such as this, when the environment was rife with news of uncertainty, position smart investors to minimize risks by pitching with experts and investments that have been proven and certain.

“We follow a ‘certainty model’ that makes real estate products at all times but much more in different times like this time. Ponzi Schemes are all over the place and their promoters will be in town to douse the news of the uncertain times that the economic outlook has predicted, but none of them has tried any of those before. Only wise investments in property and through a proven organization like us will guide investors right.”

In the same vein, a realtor, Charles Ukpong, noted that real estate was oil money for investors.