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Nigeria Real Estate To Benefit From $200bn Foreign Investment

Huge potentials abound for better return on investment in Real Estate.

A Lagos-based firm, Pazino Engineering & Construction Company Limited, has said it is on a mission to transform Nigeria’s real estate sector to world class by adding new styles and dimension to what is currently in existence.

This was disclosed during a chat with the Guardian by the Managing Director of the company, Patrick Agbaza, he said Pazino is set to bring awareness and transform life in the areas of construction and engineering in the real estate sector.

According to him, the practice of real estate business has transformed tremendously from what it used to be and there was need to take advantage of developments on the global stage.

Stating that the firm intends to take real estate from what it used to be to the next level in terms of construction and building type. “We have a lot of estates. Apart from the buildings, we have the gardens, the drainages and all of that. Again before now we had few people living in estates, but now we have a lot of people come to appreciate living in estates,” he said.

He said Pazino was determined to make people understand why they should invest in real estate because there are huge potentials for better return on investment in the sector.

“Other than real estate, what will you want to invest in? We want people to come and invest in real estate. Some years ago it used to be shares and all of that, but with the collapse of shares, the momentum has swung back to real estate,” he noted.

He contended that government has not created the enabling environment for the real estate business to thrive as it only pays lip service to the development of the sector.

He added that the banks have not really helped also: “ Some of us have come this far because we are resolute, passionate and dogged in our effort to succeed. The banks are no longer interested in long term businesses. They are only investing in short term businesses like oil and gas.”

 

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