joining forces
Laolu Oluwarinde, Head of Operations of Global Property Partners (GPP), talks about how they are trying to address the issue of housing deficit in Nigeria.
In Africa, the issue of housing deficit has been enhanced by rapid urbanisation. Given this, Nigeria has a soaring demand and is in want of about 17 million units. It is good news that the Nigerian government has put all hands on deck to find a lasting solution by investing a huge amount into housing programmes. However, the housing deficit Nigeria is facing is a wide gap that can not be filled by the government alone.
To address this problem, forward-thinking development companies in Nigeria have come into the picture to proffer solutions. One of these development companies is the Global Property Partners. GPP is a global investment firm with interest in commercial real estate, infrastructure development and energy projects.
With iconic projects like The Pacific Lagos, Oluwarinde believes his company is on the path to solving housing deficit in Nigeria. “The project, The Pacific Lagos, has been put in place to help reduce housing deficits and meet the demand in the country’s top-notch space and also attract foreign/diaspora investments. We believe that with such development,
the deficits will be reduced drastically,” he said.
The Pacific Lagos is a modern interpretation that blends the history of the vibrant and commercial city of Lagos. It has magnificent, modern and classic architecture that emulates the spirit of a vibrant urban neighbourhood with breathtaking views of the Lagos Lagoon.
It has not all been plain sailing bringing a variety of projects to reality. With issues in the real estate sector like government policies, ease of doing business, government approval, availability and access to sufficient funds, GPP has witnessed its fair share of the challenges associated with the Nigerian real estate sector. Notwithstanding, GPP has managed and facilitated properties with sophisticated concepts to attract discerning investors. Some of them are The Grand Orchard, Pacific Heights, Empire Residences and Amlad Place, Banana Island among others being developed by our sister company- Deluxe Residences.
Looking ahead into the next five years, Oluwarinde is optimistic that Global Property Partners is going to be unlocking investment opportunities in infrastructure and commercial real estate development through various global partnerships. For those looking to venture into the real estate sector, he advised: “they must set their strategies right via proper planning and research.”
