The commercial real estate landscape in Nigeria has evolved into a dynamic and multifaceted market, witnessing remarkable growth over the past decade. This surge is primarily fueled by rapid urban expansion, a rising population, and steady economic advancement. Together, these factors have heightened demand across diverse commercial property categories, including office complexes, shopping malls, industrial zones, and mixed-use projects. Recently, I had the opportunity to engage with an industry veteran whose insights shed light on the current trends and obstacles shaping this sector.
In our conversation, he detailed his academic journey, professional experiences, and guiding principles in real estate. He also discussed his driving motivations, the challenges he has faced, and critical issues such as soaring land and construction costs, the status of indigenous manufacturing, and the significant role government policies play in nurturing a robust real estate market. Below are his comprehensive thoughts on these vital matters.
“My name is Godwin Akinkunmi, and I specialize in real estate investment consulting and sales, committed to helping individuals build wealth through property ownership. With a background in Accounting, I possess strong financial expertise and analytical skills, which I apply rigorously when assessing and marketing real estate opportunities.
For the last two years, I have been actively engaged with UVEST Realty, a reputable property development and investment firm. My responsibilities include designing sales and marketing strategies that connect clients with promising investment prospects, empowering them to make informed choices that protect their financial well-being.
Additionally, I co-founded Block15 Realty, a prop-tech startup aimed at creating a transparent and user-friendly digital platform that brings together investors, developers, buyers, and agents. This venture promotes collaboration and innovation, accelerating growth within the real estate industry.
To me, real estate transcends mere transactions-it represents opportunity and legacy. It provides stability, asset appreciation, and tangible value. Beyond financial returns, I see it as a powerful means of economic empowerment, enabling individuals to accumulate wealth, establish generational assets, and contribute to national development.
My journey into real estate began in 2022 in Lagos, one of Africa’s most vibrant property markets. Since then, I have broadened my focus to emerging investment hotspots in Lagos, Ogun State, and Ibadan, guiding clients toward properties with strong potential for long-term growth.”
Reflecting on initial obstacles, Godwin shared, “Like many newcomers, identifying my target market was a significant challenge-understanding their needs and effectively communicating the value of properties. I also faced skepticism, rejection, and intense competition. Overcoming these hurdles demanded resilience, ongoing education, and mentorship. I committed myself to mastering sales psychology, refining communication skills, and prioritizing genuine relationships over quick sales. This approach gradually enhanced my reputation, attracting serious investors and buyers.”
Discussing the rise in land and housing prices, particularly in Lagos, he explained, “The price increases stem from rapid urbanization, concentrated infrastructure, and limited land supply. However, affordability is relative. Several emerging neighborhoods around Lagos and Ogun State present accessible entry points for small-scale investors seeking portfolio diversification. Education is crucial-many overlook these areas by focusing solely on established markets. My role is to spotlight these hidden gems and assist clients in capitalizing on them before prices escalate.”
On government involvement, he stressed, “Government initiatives are essential for fostering a sustainable real estate environment. Key measures include:
- Upgrading infrastructure such as roads, power supply, and public transportation to unlock new investment zones.
- Simplifying land registration processes and cutting bureaucratic red tape to enhance regulatory transparency.
- Encouraging public-private partnerships to deliver affordable housing solutions.
- Expanding mortgage financing options to help more Nigerians transition from renting to homeownership.”
Regarding the use of indigenous building materials, Godwin observed, “Strengthening local production is transformative. Bolstering domestic industries would reduce construction expenses, generate employment, and make housing more affordable. Reliance on imports causes price fluctuations and inflates project costs. Supporting local manufacturing not only lowers housing prices but also stimulates broader economic growth.”
When asked about the unique strengths he and his company bring, he replied, “At UVEST Realty, we emphasize transparency, client education, value-driven sales, and operational efficiency. Our standout feature is speed-from project development to allocation-ensuring clients experience a smooth investment process.
Personally, I have built my reputation on honest communication and relationship-centered sales, ensuring every client fully comprehends their purchase and feels confident. This trust forms the foundation of lasting success.”
He also acknowledged the impact of mentorship, stating, “Dr. Philip Babalola, CEO of UVEST Realty, has been instrumental in shaping my career and personal development. His leadership taught me the importance of patience, integrity, and consistency in sales. Beyond closing deals, he emphasized cultivating meaningful relationships, making a positive difference, and maintaining professionalism. His guidance has refined my thinking, communication, and presentation skills within this industry.”
Looking forward, Godwin is committed to reshaping perceptions about real estate, asserting, “I aim to dispel the myth that real estate is reserved for the wealthy or experienced investors. It is accessible to anyone with the right mindset, strategy, and support. I am passionate about educating young people to start early, identify emerging markets, and view property as a pathway to financial freedom. Transparency is also vital-clients must understand the true value behind every transaction, fostering trust throughout the sector.”
Ultimately, he calls on the federal government to recognize the urgent need for economic policies that create a favorable environment for business growth and real estate development.