Abimbola Omotunde-Alfred: Building a Community to Help Young Females Acquire Properties in Desired Areas 

Abimbola Omotunde-Alfred, a legal practitioner with a particular interest in property and real estate practice is the Founder of Alfred Properties and also the founder and convener of the Property Talks with Abimbola. In this interview with Mary Nnah, she talks about her efforts, using her  Real Estate business, to create a community, particularly for young females with a stable source of income, to acquire properties in desirable areas 

Can you walk us through your journey into real estate practice?

My interest in real estate practice was roused during my observance of the mandatory National Youth Service in  2018. I was fortunate to interact with clients who gave me the opportunity and exposure to proffer legal advice, protect the interest of clients, risk management and assessment, and represent them in real estate investment transactions.
 
I am trying to come to terms with the fact that a young lawyer like yourself would venture into a “hustling” practice path such as real estate. What informed your decision?

There is an element of hustle in all career paths, you know, hustle comes before the bustle, if you know what I mean.

It has been my observation that among the majority of Nigerians, there is widespread ignorance of the existence of real estate regulations, coupled with the abysmal existing enforcement process whose presence is felt more in the breach than the observance, I have always believed that I can build a brand to bridge these gaps.

Therefore, I look forward to advocating for a multi-pronged approach to these challenges in a way that, the government, developers, and homeowners (investors) can work collaboratively. This way investors feel protected and the government’s masterplan of the cities is not jeopardized. Also, the unprofessional and unscrupulous handling of Client’s briefs by persons whose only interest is their commission and ‘cuts’ is making a mess of the currently fragile real estate sector.
 
What changes is Alfred Properties bringing to the sector?

With the rising interest and increased participation of Women in Real Estate investment and business, I  am working to create a community for Young females with a stable source of income to acquire properties in desirable areas. This will be done in partnerships with reliable Real Estate Companies. Together, we will curate special-purpose real estate investment packages with nice incentives at reasonable rates for women.  For instance, We have groups of friends as clients who have invested through reliable companies by acquiring properties close to one another. This is a niche our brand is working on exploring.
Also, We look forward to advocating for more Laws and Policies to regulate the sector across the board.
 
What sets your business apart from your competitors?

Over the years, Alfred Properties has not only lived up to her Client’s expectations but has also exceeded them. We pay judicious attention to creative and sustainable projects on behalf of our Clients and as well, carry out due diligence on any property before the market audience. Our ability to spot potential and investment opportunities in creating more wealth avenues for our clients also gives us a competitive edge.
 
Of all the hurdles Alfred Properties had to cross as a budding startup, what has been the most challenging: how did you navigate through it?

The most challenging has to be access to finance and the task of building a strong team to work with. We are overcoming these hurdles by using one leap to cross two hurdles. we are reaching out to key stakeholders in the sector who also have innovative plans, and we are leveraging their network, experience, and investment through partnerships that are mutually profitable.

Alfred Properties works with like-minded and willful people who are passionate about the housing sector and share the same vision as our company. We equally invested in the continuous learning of our staff. We create avenues for them to participate in real estate seminars and conferences that would sharpen the atmosphere of our company’s financial capability and net worth.
 
Do you think startups looking to start their real estate company in Abuja stand a chance to succeed in the real estate sector?

Yes, they do. A thorough research of the Abuja real estate market and investment analysis should be crucial to any startup. There are still numerous underdeveloped areas in Abuja waiting on young minds to harvest.
 
According to research, about 75% of homes in Nigeria’s urban areas are built of concrete. Cement prices in Nigeria are about 30-40% higher than in neighboring countries and world market prices. The lack of public infrastructure as well is said to surge as much as 30% to the total costs of the development. How will you address this in the prices of your properties for prospective buyers?

The adage that says no man is an island is crucial in businesses. At Alfred Properties, we are keen on mutually profitable and progressive partnerships.  We believe in and leverage partnerships. We use our network to ensure that we get the best procurement deals on building materials from our suppliers at the best rate and cost.

At Alfred Properties we offer our customers the most reasonable investment opportunity that their budget can accommodate through our flexible plans payment. Partnering with us is the best way to avoid the surge in the prices of building materials.
 
Making a case for effective regulations and enforcement in the housing sector in Abuja –, how do think it will make headway?

We recommend that the government should welcome the idea of Public Private Partnerships to develop affordable estates and housing schemes in the FCT. Government can take over abandoned estates with no legitimate source and convert them into housing estates for government staff and citizens with stable sources of income at low-interest rates.
Also, thorough checks in the offices of AGIS and the FCDA should be carried out with effective hands and sustainable reports as backups. All these can be done with effective housing policies and by the deployment of capable Human Resources with the assistance of technology.
 
The recent new naira note scarcity, fuel price hike, mass migration, and insecurity among others have negatively impacted the nation’s economy. And Nigerians are yet to bounce back. What makes you think people are ready to start investing in real estate?

Definitely, a fact, the economy has faced very difficult conditions recently due to the new naira note shortage, fuel price increase, mass migration, and most importantly security, but the solution to this economic calamity is investing wisely in what’s left, and the best way to invest right now, anywhere in the world, is by investing in properties. At Alfred Properties, we are concerned and particular about assisting everyone to get a strong stance and sure path in property investment.

With  Alfred Properties, you get the best value for your money which includes a huge sense of safety for your money and a sustainable return on investment.
 
Wow, this has been deep and insightful. So we should be on the lookout for the impressive packages that will be rolling out of the Mills of Alfred Properties soonest. Thank you for coming but before we draw the curtain, any last words?

It’s been an insightful conversation and I look forward to establishing a facade as a young lady in the sector. Also, to work with the key stakeholders in the sector by creating sustainable and affordable homes for ordinary Nigerians.