Firm urges digital transformation of real estate sector

Olayinka Braimoh, the Chief Executive Officer of Hall 7, one of Nigeria’s leading real estate development firms, has urged both local and international investors to reframe the country’s profound housing deficit not as a burden, but as a significant, untapped economic opportunity. Speaking to a captivated audience at the prestigious Africa International Housing Show, a […]

Olayinka Braimoh, the Chief Executive Officer of Hall 7, one of Nigeria’s leading real estate development firms, has urged both local and international investors to reframe the country’s profound housing deficit not as a burden, but as a significant, untapped economic opportunity.

Speaking to a captivated audience at the prestigious Africa International Housing Show, a key event in the industry, Braimoh delivered a keynote address that positioned him as a leading voice and expert, offering a clear and strategic roadmap for unlocking the immense potential within Nigeria’s real estate sector.

In his keynote address, Braimoh, widely regarded as a visionary and one of the most sought-after developers in the country, highlighted the powerful market fundamentals that make real estate a prime investment. He backed his analysis with compelling data, noting that despite the sector’s steady annual growth rate of over 3.5%, a vast gap exists between supply and demand, making it a lucrative frontier.

Braimoh emphasized that innovation in real estate must extend beyond construction to drive industrial growth and streamline processes. He advocated for regulatory bodies to embrace digital transformation, specifically by adopting online platforms for submitting, reviewing, and approving development proposals. This, he argued, would enhance efficiency, reduce the current lack of transparency and predictability, and allow for approvals in as little as 10 to 20 days.

He also discussed the implementation of technology to monitor urban development, enabling city offices to track changes in building structures in real-time. This innovation, he noted, would not only improve development processes but also have a direct, positive impact on the economy. By reducing the time developers spend on approvals, a significant amount of capital could circulate more rapidly, benefiting the entire economic ecosystem.

Braimoh backed his analysis with compelling statistics, noting that while the Nigerian real estate sector’s growth has been steady, with an average annual growth rate of over 3.5%, there is still a wide gap between supply and demand, particularly in the premium and middle-class segments. He emphasized that forward-thinking developers who prioritize quality, timely delivery, and innovative solutions will be the most successful.

Braimoh urged for greater public-private sector collaboration to address infrastructural gaps and accelerate the sector’s digital transformation.

He concluded his address by inviting investors to look beyond conventional models and partner with proven, results-driven firms like Hall 7 to capitalize on Nigeria’s real estate boom.