Nigerian, Chinese investors to boost real estate sector in the south west part of the country

In a move to boost the nation’s real estate industry, Nigerian investors are exploring opportunities with a Chinese firm to promote housing developments in the South West part of the country, especially Ondo, Osun and Ogun States.

Senior officials of the Chinese firm, Messrs Sinafri-Hongye visited Nigeria last week to hold discussions with the private investors led by Niger-Sino and Hemaded Logistics Group in areas such as real estate, construction, building materials, especially, lightings and alternative power supply, among others.

The Chinese Group, led by the Sinafri-Honye’s Marketing/International Relations, Mr. Sebbs Azubuike accompanied by the Director, Sinafri-Hongye, Mr. David Yang, Messrs Xu Jacky Ronchang, Managing director, Hongye Energy Unit and Pan Bing Kui, managing Director, Sinafri-Hongye, Electronic/Electrical, highlighted their findings and desire to commence business in Nigeria immediately they formalized agreement with their partners in the different areas.

Speaking at a press conference held at the prestigious “Asso Friends Club”, Maryland, Lagos, Chairman of Niger-Sino Nigeria Limited, Mr. Olanrewaju Saka-Shenayon expressed confidence that the outcome of collaboration between the two parties would be successful.

Saka-Shenayon hinged his optimism on the landmarks that Chinese firms are making in Africa, especially, Nigeria in construction works. “We have confidence in our new partners and we believe that at the end of the day, we will sign memorandum of understanding (MOU), by which activities will commence”.

Chief Executive Officer, Hemadeb Groups, Mr. Tunde Akinboun, disclosed that the area of cooperation with the Chinese group in real estate would be concentrated in the South-West of Nigeria, especially, in Ondo, Osun and Ogun States.

Akinboun, who reiterated the market potentials of real estate sector in Nigeria, called for investment in solar energy, adding that it is economically wise to explore more of solar use, especially, for streetlights and other domestic usages.