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Real estate investments are the key to overcoming the economic crisis – Casafina

The CEO of Casafina Improvement Firm, Dr. Seyi Olufemi, has suggested traders to spend money on prime places to climate the challenges of inflation and naira devaluation.

He acknowledged this on Friday throughout a press convention on the public presentation and launch of Greystone Residence in Maryland, Lagos.

In line with latest knowledge from the Nationwide Bureau of Statistics, Nigeria’s inflation charge stood at 33.95 p.c in Could, whereas the naira rose to over 1,450/$ on official markets from 450/$ in Could 2023.

Nonetheless, Dr. Olufemi advised that to beat these two financial challenges, traders ought to deal with actual property because it has confirmed to be one of the crucial dependable property within the present financial local weather.

He stated: “We all know that the financial system is mostly a bit burdened. We additionally know that this stress will come to an finish. Those that perceive the values ​​of prime actual property perceive the values ​​that we carry to the desk.

“However extra importantly, when issues are dangerous, inflation may be very excessive and devaluation impacts each sort of asset; there are three property that may stand up to these headwinds.

“These are commodities, equities and actual property. For the serving traders, now could be the time to go for prime actual property to experience out these headwinds.”

In the meantime, he famous that the 64-unit residence challenge at Greystone Residence can be accomplished inside 24 months, whereas the 360-unit challenge at Chemical Plaza in Ojota can be accomplished in 18 months or much less.

Olufemi stated the presentation was geared toward demonstrating that regardless of the powerful financial circumstances, individuals can nonetheless make worthwhile investments in Lagos State with a supportive monetary construction.

He stated: “We wish to construct probably the greatest residential actual property clusters within the mainland. That’s our objective. We’re constructing a complete of 64 items of various kinds of residences. By the point we full this on time, this would be the finest residential space on this space.

“The timeline for the Greystone Residence Venture is 24 months, with 64 residences and roughly 360 retail items in Chemical Plaza to be accomplished inside 18 months. We began the Chemical Plaza challenge in April. We’ve 18 months, however we’ll most likely be completed inside 12 months. That’s our objective.”

John Okezie, the President of Chemical Market Ojota, expressed appreciation for the lined plaza with 360 outlets, noting that the tasks, as soon as accomplished, will add vital worth to each the neighborhood of Ojota and Lagos as an entire.

He stated: “We discovered that they’re time-bound of their service. If they are saying 10 months, it’s 10 months. We did an inner audit of a number of the tasks they’ve completed prior to now. We noticed their work. We purchased them after we realised how good they have been.

“This would be the largest sq. within the space. And it is going to be a closed sq. that offers you good safety. It will likely be straightforward for individuals to adjust to the legislation that regulates a closed sq.. This sq., as soon as it’s completed, will add worth and sweetness to Ojota.”

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