…Diasporas have a critical role to play in promoting Nigeria’s investment potentials
The Detty December phenomenon was described as a unique opportunity for real estate investors and developers to tap into the growing demand for short-term rentals, luxury accommodations, and entertainment-driven properties, thereby diversifying their portfolios and increasing their returns on investments.
This was made known yesterday by Ambassador (Dr) Babatunde Adeyemo, the Chief Executive Officer of Pelican Valley Nigeria Limited, at a n event in Lagos.
The event, Sensitization and Advocacy Program for Promoting Diaspora Investment Potentials, was organized by Nigerians in Diaspora Commission (NiDCOM).
Dr Adeyemo revealed that, “I have come to the conclusion that the Detty December phenomenon presents a unique opportunity for real estate investors and developers to tap into the growing demand for short-term rentals, luxury accommodations, and entertainment-driven properties, thereby diversifying their portfolios and increasing their returns on investments.”
The Chief Executive Officer of the leading real estate company in Nigeria, Pelican Nigeria Limited said about the company,” The company is officially a decade old in the Nigerian real estate business. We started with Pelican Valley Estate Laderin, Abeokuta, where unusual homes happen, and we have since expanded our frontiers to have three additions which are Pelican Brief, Pelican’s Ecostay Apartments and Pelican Greenish Acres Farm Estate.
Specifically, our Vision is to empower and unite Nigerians in the diaspora by offering a secure and transparent platform for real estate investments in Nigeria. Our Mission is to establish a trusted and reliable platform that propels Nigerians in the diaspora to reconnect with their roots through real estate investments and value adding, homeland retirement plan. Essentially, our goal is to provide affordable housing, drive economic growth and create opportunities for Nigerians.
Our flagship project which is the Ecostay Apartments began as an extension of Pelican Brief Estate. It is more than just a place to live. The apartments are a statement of intent and deliberateness. We have incorporated cutting-edge eco-friendly technologies, sustainable materials and innovative design principles to minimise our carbon footprint. In fact, every detail has been carefully considered to create a truly befitting eco-friendly environment.
Let me specifically highlight some of the salient features to treasure at the Pelican’s Ecostay Apartments. Our Estate, which has a full government approved-layout and building approvals, is also fortified with armed security guards. It is provided with energised 33 KVA/500 KV public power, equipped with 90 percent industrial solar street lights and paved with interlocked roads.
Our unique residential project also has provisions for a purpose-built lounge, bar and mini club; basketball, lawn tennis, badminton courts, worship centers, as well as swimming pool. a mini zoo where camels, peacocks and other delightful animals are equally on display. In addition, the Estate has a close proximity to our Greenish Acres Farm, where organic and fresh meals are processed. Above all, Pelican’s Ecostay Apartments is easily accessible less than 15 minutes drive to the Abeokuta Central Business District, the new train station and also, we are just a 45 minutes drive, to the Alausa Secretariat, Ikeja, Lagos.”
Dr Adeyemo also added that,” . It may interest you to know that we have received another government approval for the extension of the Pelican Brief Estate and Ecostay apartments. We are extending it by an additional 600 plots and even with the extension, we are planning a closure on land sales. We want to continue to add value by building more tastefully finished apartments for sales.
Therefore, this is the right opportunity for our brothers and sisters in diaspora to pick interest in our real estate products and invest in any of them. Our products have high return on investment (ROI). We have been in the business for 10 years officially and we have no record of any negative case or review. We have never been involved in unethical practices and we have never been in court for any litigation. We have also not been to the police station for any land-related conflict.”
He noted that, “The Southwest region of Nigeria is particularly ripe for investment, with its rich cultural heritage, abundant natural resources, and strategic location.
However, I acknowledge the fact that there are still challenges that need to be addressed to create a more conducive investment environment. This is where the diaspora community comes in. As ambassadors of Nigeria in their respective countries of residence, they have a critical role to play in promoting Nigeria’s investment potentials and facilitating investments in our country.
Through initiatives like this programme organised by NiDCOM in collaboration with Gconsulting International Services Limited, we can sensitise and advocate for the promotion of diaspora investment potentials in Southwestern part of Nigeria. We can create awareness about the opportunities and challenges, and work together to develop strategies for overcoming the challenges and maximising the opportunities.
Based on my experience, I know that there are several ways Nigeria’s real estate sector can benefit from diaspora remittances. These include investment in property development, acquisition or renovation by Nigerians living abroad; development of modern, high-quality housing units to improve Nigeria’s housing stock and address its housing deficit; creation of jobs for the citizens and stimulation of the nation’s economy.”
In addition, Dr Adeyemo suggested that,” diaspora investment can support infrastructure development such as roads, utilities and amenities, which are essential for real estate development while it can also be used to develop mortgage financing options for Nigerians, making it easier for them to purchase homes. Diaspora investors can equally partner with local developers to develop new real estate projects such as shopping malls, office complexes and residential estates.”
He called on stakeholders especially government to provide incentives such as tax breaks, subsidies or other benefits to encourage diaspora investment. “Through outreach programmes, events and social media, government can engage with diaspora communities to raise awareness about investment opportunities”, he noted.