Zakary A. Toyin: Real Estate Isn’t Just About Buildings, It’s About Creating Legacies, Security and Value for Generations

Zakary A. Toyin is the CEO of Growthill Limited, a real estate development company. He tells Bennett Oghifo there is more to real estate than buildings. He says it’s about creating legacies—something that can provide security and value for generations. He discusses the risks in the country’s real estate market, particularly that of Lagos State and how to navigate in the terrain, using the invaluable

intel provided by the government

Tell us about yourself, and why you are so interested in real estate

My passion for real estate started at a young age and is deeply rooted in my family’s values on purposeful and impactful living. One of the most impactful things my father left behind were a few properties. These weren’t substantial, but during challenging times, they provided stability and options. It was then I realised that real estate isn’t just about buildings; it’s about creating legacies—something that can provide security and value for generations. Early in my career, I had the privilege of working alongside my uncle, who introduced me to the immense potential of real estate as a long-term investment. However, the moment that truly changed everything for me came while helping clients secure afirst property. The gratitude and prayers I received reminded me of the deeper purpose behind real estate—it’s not just a transaction; it’s a life-changing experience. That was when I committed fully to real estate, seeing it not just as a business but as a means to positively impact lives and create lasting value for communities.

Give us your background in real estate and your key portfolio

Although Growthill is a new entrant in the market, it’s built on the foundation of extensive experience and rooted in expansive knowledge about the real estate ecosystem. Personally, my journey in real estate spans several years and has included roles in finance, business development, investor relations, and property management. I have also been involved in residential and commercial developments in major cities like Lagos and Abuja. Before Growthill, I gained valuable experience working in both the private and public sectors, where I learnt to navigate the complexities of real estate investment and development. I’ve always focused on delivering sustainable and profitable solutions, from managing large-scale projects to negotiating public-private partnerships and joint ventures in very substantial amounts. Growthill is a reflection of these experiences. While we are a new company, the collective expertise of our exceptionalteam ensures we are prepared to deliver projects that meet the highest standards of quality and value. Our goal is not just to build properties but to create spaces that leave a lasting impact on people and communities.

Tell us what you think about the Lagos property market and its challenges

Lagos is undeniably a major driver of Nigeria’s real estate market. However, like any vibrant market, it has its shares of challenges, such as rising construction costs, regulatory complexities, infrastructure deficit and a growing affordability gap. Despite allthis, the demand for affordable and luxury housing remains strong due to urbanisation and population explosion. One of the most pressing issues is access to affordable housing, especially for middle-income earners. Economic conditions have made it harder for potential homeowners to secure quality homes, leading to an increased demand in the rental market. However, this challenge also presents an opportunity for developers to innovate. At Growthill, we are addressing these issues by focusing on energy-efficient designs and exploring modern technologies like Building Information Modelling (BIM) to optimise construction costs and timelines. Although we are just emerging, we are committed to partnering with like-minded organisations to deliver projects that balance affordability with quality, ensuring more people can access homes that truly meet their needs.

What project types is Growthill focused on, commercial or residential?

Both residential and commercial projects offer unique benefits, and our focus at Growthill is driven by market demand and long-term value creation. Residential projects are critical because they address the housing deficit, offering stability and steady returns for investors. Growthill is committed to delivering energy-efficient, sustainable homes that reduce environmental impact and lower long-term costs for homeowners. On the other hand, commercial developments drive economic activity and create opportunities for businesses. For these, we are applying the same principles of sustainability and innovation to ensure they meet global green building standards. Ultimately, our strategy is to maintain a balanced portfolio of both residential and commercial developments. This approach ensures diversification, helps us meet the varied needs of the market, and positions Growthill for long-term success.

A good number of people have suffered setbacks in terms of investment in property in Lagos. What is your advice for prospective investors?

Like any other, the real estate market in Lagos comes with its risks. However, the key to avoiding setbacks is careful planning, due diligence, and working with trusted partners. My advice is simple: focus on the fundamentals—location, quality, and transparency. At Growthill, these principles guide everything we do. While we are new to the market, we are intentional about being transparent with our processes and maintaining open communication with all stakeholders. Our focus on well-regulated, high-value locations ensures that our developments are not only profitable but also sustainable in the long term. Choosing developers with a track record of quality and integrity is essential for investors. Growthill may be a new entrant, but we’re committed to delivering projects that meet and exceed expectations, ensuring your value for money. 

What’s the ROI like with your projects?

Being a company with a clear and precise vision, Growthill is laying the foundation for exceptional ROI through strategic planning, innovative designs, and a focus on high-value locations. While our first projects are still in development, we are confident in their potential to generate realistic returns for investors and homeowners alike. Our strategy is simple: we’re investing in locations with long-term growth potential, incorporating energy-efficient designs to reduce operational costs, and partnering with reputable industry players to ensure the sustenance of our value chain and the success of our projects. For investors, this is a unique opportunity to be part of a company that is poised to deliver sustainable value as we grow.

There is an unwholesome trend now that is frustrating most investors, who don’t get what they bargained for because of some terms and conditions that they either did not see at the beginning of negotiations or were introduced after the buyer commits. What is your advice in this regard?

Trust is the foundation of any successful business relationship, and at Growthill, we take this very seriously and without compromise. From the outset, we are committed to clear communication and ensuring that our clients and investors understand all terms and conditions. There are no surprises—what we promise is what we deliver. For investors, my advice is to always work with developers who prioritise open communication and have a proven reputation for integrity. We are building our brand on trust, ensuring that expectations set at the beginning are met at the end.

There are growing cases of conflict between developers of estates and homeowners with respect to control of facilities. What, in your opinion, can resolve this issue?

Conflicts often stem from unclear agreements or misaligned expectations. At Growthill, we believe in addressing this proactively by setting clear frameworks for facility management from the beginning. This includes transparent agreements that outline roles, responsibilities, and expectations for all parties. We also encourage the formation of homeowners’ associations to ensure residents have a voice in decision-making and can collaborate effectively with developers. By combining this with professional facility management services, we aim to minimise conflicts and build lasting partnerships with our homeowners.

Housing finance is a crucial component of homeownership. What do you think about Nigeria’s mortgage system?

Nigeria’s mortgage system has made some strides, but there’s still a lot of room for improvement in terms of accessibility and affordability. High interest rates and limited options make it difficult for many Nigerians to own homes. At Growthill, we’re exploring partnerships with financial institutions to offer flexible payment plans and innovative financing solutions. We also believe more education is needed to help people understand their options. By working with stakeholders, we aim to empower more Nigerians to achieve their dream of homeownership.

What role do you think the government should play to enable more Nigerians to have suitable accommodation?

The government plays a vital role in addressing Nigeria’s housing deficit. Policies that reduce land acquisition costs, streamline building approvals, and incentivise affordable housing development are crucial. Additionally, providing infrastructure in underdeveloped areas can significantly reduce housing costs. Public-private partnerships (PPPs) are also essential. By partnering with developers like Growthill, the government can leverage private sector expertise to deliver scalable housing solutions. We are committed to collaborating with the government to ensure more Nigerians have access to affordable and suitable homes.

Is it compelling for everyone to build a house or have access to decent accommodation? What are your thoughts on this?

Access to decent accommodation is a fundamental need and should be a priority for everyone. While building a house may not be feasible for everyone due to financial or personal circumstances, having access to safe, quality housing should be non-negotiable. At Growthill, we are committed to addressing this by creating sustainable, affordable housing solutions that cater to a wide range of income levels. Whether through innovative financing options or strategic partnerships, we aim to make decent accommodation accessible to more people, empowering them to live with dignity and stability.

Some people have bought land designated as government excision from people who are not authorized to sell. What do you think can prevent this, particularly with prospective buyers?

The key to preventing this issue is due diligence and working with trusted professionals. Prospective buyers should always verify the status of any land through the appropriate government agencies before committing to a purchase. Consulting a real estate lawyer or a reputable developer can also help ensure that the land is free from legal complications. At Growthill, we prioritise transparency and ensure that all our land acquisitions are properly documented and verified. By partnering with credible developers who uphold integrity, buyers can avoid these pitfalls and protect their investments.