It is a new week and I’m out the door by 5:30am; braving the relentless Lagos traffic and unwelcome May drizzle, hoping to beat the 7:30am resumption curfew so I could meet with my team to discuss the new week’s tasks and evaluate our previous week’s performance. This has been my standard routine for the past 4 years. I pull out my sketch pad at some point to doodle; a sketch here and there; in preparation for the meeting I would chair later that day with the Interior finishes and furniture team (one of my preferred roles as team lead and managing director).
I beat the curfew by a few minutes and settle in for the day’s business. Major on our agenda is discussions around sales strategies for the on-going construction of a 14 units of 4-bedroom terraced apartments located in the heart of Ajah and other properties and projects scattered across the country.
My senior partner takes the lead on the discussions and I dutifully take notes (A habit I find calms me and keeps me up to date on what I need to do) like someone preparing for a serious examination. We circle around topics ranging from conversations on how to beef-up security on site to prevent further thefts, comparing current prices of materials amongst our various vendors, proper supervision of contractors, health and safety of workers and equipment, need to hire more projects staff, TGIF for core staff to improve work morale, new land purchases, new projects prospects, and on and on – an endless list of responsibilities and to-dos. To add icing to the cake, the current project turnover deadline is barely two months away and everyone at this point including the investors, is just eager to wrap up construction, smile to the market on profitable returns after aggressive sales, and yes, immediately start preparations for the next building project of 28 units of luxury detached duplexes.
My stress level feels like an 8 out of 10 at this point as I anticipate all the hurdles we would have to cross as an organization on our growth path to being recognized as a reputable Real Estate firm that provides affordable (we can debate this later), modern, tastefully-designed and solidly constructed residential homes to the people of Nigeria and soon, the world. After all, we stand by the,” Nigeria to the world” mantra.
My career in Architecture started shortly after I graduated with a B.Sc. in Architecture from Obafemi Awolowo University in 2010. My head reels a bit when I consider how much time has passed and how long I have been at this building game. 13 years and counting! I remember conversations with my mentor about how unsure I was about my ability to “stay the hurl” because thriving as a woman in construction is no small ask. From core design to construction to interior design to furniture production to real estate and now, “all join”. Not the easiest by any stretch of the imagination, but this has been a good space for me.
I was fortunate to have worked in a firm that offered design and build services from the get. The contentment and satisfaction I got from supervising designs I had helped birth was everything. I didn’t mind juxtaposing the comforts of an architectural design office with a makeshift and often uncomfortable site office because I got to participate first hand in the creation of something worthwhile.
At the time, I volunteered myself for everything on site. I was hungry for growth and my boss at the time nurtured this zeal in me. I am very hands-on and like activities that can engage my mind as much as my hands. Block by block, layer by layer; the screaming and chaos on slab casting days, the long endless hours: my God, was I comfortable in that space! Interestingly today, I find I still am.
Conversations around land, structures, allocations, infrastructure, industry, locations (Geography), earth; have always been fascinating for me. I gobbled up class lectures on industrial revolution and Architecture epochs back in Great Ife. I find the idea that anyone can take a piece of earth and build an entire world of value around that one piece surreal. It speaks to security, stability, ownership and the longevity of the human race. Land has origin, land has history, and land has VALUE; and this notion is what drew me to the world of design and construction in the first place. It is also what keeps me going now.
The Nigerian Real estate industry has been subject to irrepressible growth within the past two to three decades. Every corner of every major city in the country seems to be “breeding” (pun intended) building “developers” who have little or no educational background in design and construction.
As most of the story goes, a certain individual starts out with little to no money, builds and sells a building or two and a year or so later, BOOM, millionaire and billionaire status all over town. It’s the stuff of fairy tales and we get to hear it told every other day. The returns on building investments especially within the cities of Lagos and Abuja are higher right now than most other sectors of the economy.
Economic crisis or not, the Real Estate game seems to be growing strong. Some of the reasons for this are common knowledge, others not so much, but one of the major factor is this: rights to land and land ownership hold universal appeal. This is a notion that has existed since the beginning of time. So where do we go from here?
Do we need more regulations around who, how and where buildings should be erected? Yes.
Should building professionals be actively involved in every scale and every stage of construction? Yes.
Should we do all we can to design and build safe and stable structures? Yes
Designing the proper frame works and standards around the industry to ensure buildings are safe and constructed by professionals is a good continuance point for anyone looking to start in right now.
Like it or not, the title “building developer” is here to stay. And it’s a title I identify with as a professional conducting business within that space for all intents and purposes. As long as land appreciates, the buildings and everything tied to that land will continue to follow suit; making it a very attractive investment strategy for people trying to survive in the face of uncertainty confronting all the different facets of the economy; including security, politics, infrastructure, and healthcare.
Also, the Real Estate industry constantly attempts to cater to the escalating housing crisis by opening up new areas to development and migration. This is necessary for growth as we de-populate overcrowded city centers.
The government has major roles to play in ensuring easy and speedy access to infrastructure as growth happens within new urban areas, top of which is enforcing existing policies on building regulations and even designing new policies for sustainable growth. The government also needs to enable easier access to legitimate financial aids and mortgages when required by people who meet stated criteria.
All stake holders need to work together to ensure the people who purchase or rent any property legitimately receive commensurate value in return for their money spent. It is our collective responsibility to ensure that the Real Estate Industry remains a profitable and safe investment vehicle for the foreseeable future.
I am an advocate of home and land ownership because of all the benefits it provides, and I would encourage anyone who shares my passion for providing services that support the financial and physiological wellbeing of people through provision of proper housing to get on board today. The current challenges are no match for the potentials embedded within the industry.
