Real Estate in Abuja: The Why, What and How
It’s no longer news that real estate investment in Nigeria is a profitable venture but whilst desiring to make a profit from the sector, certain strategies must be employed and engaged based on knowledge and experience. It’s not just enough to have the financial capacity to invest, it’s also important to possess the requisite real estate investment know-how that will guarantee safe, profitable and sustainable real estate investments.
In this article, Raymond Ijeomah explores the why, what and how to invest in real estate in Abuja for safety, profitability and sustainability. These three words are key elements that Fortreal Rei Limited runs, a real estate company owned and managed by Raymond.
When it comes to real estate investment, location is king. When you invest in high-demand locations, you are guaranteed fast and high returns on investment as against other locations and this is the major reason Abuja and Lagos rank very high when it comes to return on investment. However, this article focuses on the Abuja real estate market.
The Why
Fast Growing City: Abuja at a point was ranked as one of the fastest growing cities in the world and since then, it continues to rank high both in number and in development.
Population is a critical element of real estate investment because it is a need that can’t be ignored by anyone. Clearly, in a location like Abuja where you have a high population, any form of real estate investment will thrive and yield great returns on investment.
The FCT
The fact that Abuja is the Federal Capital Territory cannot be ignored. This is a core advantage that Abuja has over every other location and this naturally makes Abuja a major destination for both the high and mighty, multinationals as well as those seeking greener pastures. Naturally, this impacts everything about Abuja as a city as well as those who invest in it.
Infrastructure
Abuja being the Federal Capital Territory is always considered to be a “construction site” because it is rare to drive around the city and not find major infrastructural development happening around the city. This generally makes it good for investment because, with great infrastructure, the environment will develop rapidly. It’s important to add that Abuja is in 5 phases of development and if you invest right and strategically, you’ll attract great returns on investment.
Environment
Abuja is considered the most serene and beautiful city in Nigeria and the reason for that is not far-fetched. As the FCT and Nigeria’s only purpose-built city, attention was paid to details in such a way that everything about Abuja was planned. In other words, the environment guarantees safe and peaceful habitation both for visitors and residents and both will need real estate.
Another angle of the environmental impact of Abuja on the real estate market is the quality of people who live in Abuja. When you have senior citizens, top leaders, executives, politicians, multinationals, foreigners, entrepreneurs etc. residing in an environment, it is natural for such an environment to be desirable. Abuja inarguably accommodates some of the wealthiest people in Nigeria and an environment like that will always yield great returns on investment because there is purchasing power and high demand for real estate and other businesses associated with it.
Road Network
As a city intentionally planned, every road in the city is well connected to ensure the free flow of traffic. The flyovers are strategically located all around the city to reduce road congestion. Beyond the present road Network that Abuja has, the master plan also factored in expansion in such a way that if the roads will require expansion, there’s an adequate plan for that. So, with quality roads and good road connections, living in Abuja is enjoyable and highly desirable.
Availability of lands
Abuja has very developed areas as well as enough space for developing areas. As an investor, real estate as a product is readily available for you. You’ll simply make sure you’re getting the investments from the right sources.
Returns on Investment
Because of the above-stated reasons and several others, it is clear that when you invest the right way in Abuja and the most strategic locations, you’re guaranteed to have huge and fast returns on investment.
THE WHAT
This answers the question of what type of real estate you prefer to invest in. Abuja as a location has 5 phases of development and each of these phases has different types of real estate that will achieve the goal of profitability and sustainability. Quickly, it’s important to state that not all areas are for land banking in Abuja and because of the master plan, you don’t build whatever you like in Abuja. Every location within the masterplan has a pre-approved intention and design so if you must invest in Abuja, you have to define your goal and make sure it is in line with the demands you’re making from your realtor or broker.
THE HOW
The Abuja real estate market is a profitable one but to invest for safety, profitability and sustainability, investors must do it from a place of knowledge. There are tactics and strategies around “The How” of investing in real estate in Abuja which we can’t exhaust in this article but the summary of them all is that every Abuja real estate investment must be done from the place of knowledge.
We will address this in subsequent articles but in the meantime, the Fortreal YouTube channel (Real Estate by Fortreal) is a major source of knowledge where we have taught exhaustively about the real estate market in Abuja and how to invest safely, profitably and sustainably.
