Nedcomoaks Group Marks 20th Anniversary, Portfolio of Over 6,000 Homes 

Bennett Oghifo

The Group Managing Director, Nedcomoaks Group, Dr Kennedy Okonkwo recalled that he began his real estate business with the construction of a bungalow at Oniru, in Lagos and now has a portfolio of over 6,000 homes of different styles.

Okonkwo stated this on the sideline of the Group’s 20th anniversary in Lagos, saying, “From the very first time we built the first home, a bungalow in Oniru, the second bungalow, to many more bungalows that followed on a build, pay and transfer basis. 

“The moment when we went to Lekki phase one and completed that house that was owned by that doctor who couldn’t finish his property and we took it on a 10 year lease. To the very moment when we needed just to make sure that we can build one more home, to the very moment when we felt that we needed to expand and employ more people and give young people the opportunity to own homes. Once again, it’s been God all the way. It’s not by my own power. I give God the glory.”

On the cost of construction that has gradually escalated over the years, Okonkwo said, “Inflation is rising, the cost of construction will keep rising. But the thing is, strategically, we are positioning ourselves as a market leader. So, we must do things that enable us to produce those homes at a reduced cost. We must run more efficiently. We have been able to integrate outwardly, and that has helped us to be able to do more homes for people at significantly reduced rates. 

“We do a whole lot, from producing our own paving stones, to producing our own furniture. Those are the things we do to significantly reduce the cost of construction.”

His wife, Mrs Ichechi Okonkwo, who helped build the Group, recalled her experience, saying, “I remember when my husband first shared his vision for building a real estate company from scratch, leaving his 8 to 5 job, I was both excited and terrified at the same time.

“My fears were numerous. I worried about the financial risks, the uncertainty of the market, and the potential failure of the business. I also feared that my husband would be working long hours, leaving me to manage the household and our family alone. But despite these fears, I had hope. I believed in my husband’s vision, his passion, and his work ethic. I knew that he had a unique ability to connect with people and build strong relationships, which would be essential in building a successful real estate company in Nigeria.

“I also drew hope from our shared values and goals. We both wanted to build a business that would provide hope for families, create jobs and opportunities for others, and make a positive impact on our community.

“Throughout the journey, there were many times when I felt like giving up, when the challenges seemed insurmountable, and when the doubts crept in. But my husband’s unwavering drive, his resilience, and his determination to succeed kept me going.

“Looking back, I’m proud of what we’ve achieved together. We’ve built a successful real estate company delivering dreams, one home at a time. We’ve also built a marriage and home that has weathered many storms.

“So, to anyone who may be facing similar fears and doubts, I would say this: align your goals, personal and family, hold on to hope, believe in yourself and your partner, and never give up on your dreams. With hard work, determination, and a willingness to take risks, you can achieve great things together.

“As a woman who has been involved in the real estate industry, I would offer the following advice to women who are already in the business or are looking to venture into it: Be confident and assertive: They say it is a male-dominanted industry, but women have taken over, so this shouldn’t intimidate you. Believe in yourself, your abilities, and be hungry for knowledge, knowledge, and awareness helps build confidence

“Begin to build a strong network :Building relationships with other professionals in the industry, including mentors, peers, and clients, is crucial. Attend conferences, join real estate organizations, and participate in industry activities.

“Stay up-to-date with industry trends: The real estate market is constantly evolving. Stay informed about market trends, laws, and regulations to stay ahead of the competition.

“Be prepared to work hard: Real estate is a demanding industry that requires long hours, dedication, and perseverance. Be prepared to put in the effort required to succeed.

“Be resilient and adaptable: The real estate industry can be unpredictable, and things don’t always go as planned. Develop a growth mindset, and be prepared to adapt to changing circumstances.

“Seek mentorship and support: Surround yourself with people who support and encourage you. Seek guidance from experienced professionals, and don’t be afraid to ask for help when you need it. With these and more women can thrive in the real estate industry and achieve their goals.”

Ichechi Okonkwo, who is the CEO of Victoria Crest Homes, with over a decade of experience in the real estate industry, said, “I’ve developed a strong passion for delivering aspirational living to my clients.

“My team and I have successfully settled over 6,000 families into their homes within and outside the Lagos Metropolis. Over the years, I have attended different business schools and training to continue to hone the skills I require to succeed at my work.

“Outside of work, I enjoy family time, travelling,  and exploring. I value personal development and growth, meaningful relationships and people, service, character, compassion, and gratitude.

“I’m excited to help first-time buyers, and investors meet their real estate goals and look forward to collaborating more and celebrating the next 20 years.”