During an interview with the managing director of PWAN plus, Mr Julius Oyedemi. He acknowledged that no matter the economic challenge, real estate remains a booming industry in Nigeria.
PWAN plus is a subsidiary of Property World Network Africa (PWAN Group). Julius Oyedemi, takes a look at the real estate sector of the economy in Covid-19 pandemic era.
Contrary to lamentations of business owners over the negative effect of the pandemic on businesses generally, Oyedemi, a real estate guru, insists that real estate industry still flourishes, and remains booming under the ravaging Corona virus. He states this and other sundry issues in this interview with Vanguard Homes & Properties.
Considering the current economic challenges facing businesses following the impact of the novel Corona virus, one will expect that this period is a dull moment for the real estate sector like every other sector of the economy. But instead, you are launching new products here and there. Could you explain the secrete behind this?
As you know, Nigeria is fully dependent on crude oil. But it has become a reality today, that crude cannot sustain the country any more. Many multinational oil companies are relocating out of Nigeria. I want people to know that one sure industry that has contributed significantly to the economies of the world at large is real estate. In Nigeria today, real estate is contributing immensely to the economy. No matter the economic challenge, real estate remains a booming industry in Nigeria. The reason as I said, is that everybody wants a roof over his head. And everyone wants to be a landlord or landlady. So, the quest for real estate is always high.
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