For non-residents seeking to avoid Investment FOMO, acquiring property in Nigeria is now more secure
Foreign investors and Nigerians living in the diaspora wanting to own property in the green country can now do so without fear of fraud or quality control.
The total value of the Nigerian real estate market is worth over 59 Trillion Naira ($22 billion). This is almost seven times bigger than the entire local stock market. Lagos and Abuja remain the hottest markets in Nigeria, with 1 bedroom Luxury Apartments in Victoria Island (Lagos) going for as much as $450,000.
Four Seasons Legacy Investments has just launched a Real Estate initiative with Nigerian Dream Homes platform, to facilitate the building or buying of property in Nigeria. The portal enables prospective investors to identify their real estate needs most conveniently and seamlessly. The platform also provides the technology that enables clients to monitor the progress of their projects, live online.
Four Seasons Legacy Investments provides a turnkey solution from the land acquisition to the construction, infrastructure, and finishing. Through its strategic partnership with Fidelity bank, investors’ funds are transferred from abroad seamlessly to the local account in Fidelity bank. All funds are held in trust by the bank while the building project is being carried out. The projects are vetted and certified by a team of engineers who sign off only when defined parameters have been fully satisfied.
Foreign property investors and Nigerians living in the diaspora have had challenges building a house in Nigeria or investing in the real estate market. Some Nigerians who have been away from the country for a long time do not always understand the new terrain and funds entrusted to friends and relatives to build a house sometimes get diverted.
Additionally, the purchasing process of some lands is deeply embroiled in legal tussles that have been revolving for generations. Prospective buyers or builders may have their investments at high risk in such an environment.
Dr. Alfred Bisi Tofade, the Global CEO of Four Seasons Legacy Investments said, “this historic Real Estate initiative was developed to satisfy the needs of a core demographic group who want to build a vacation home in Nigeria or invest in the real estate market. We build on integrity and our currency is honesty. What else can be so important but to give you some peace of mind while you put the pieces together?”
All investments necessarily bear some degree of risk. Nonetheless, with the backing provided by Fidelity Bank of Nigeria and the ability to monitor progress in real-time, the purchase of property in Nigeria -while not in Nigeria- has now materialized.
