Nigeria's Real Estate Potential: Unlocking 95% Growth

My-ACE China, Chairman of the Mayor of Housing Group, stated that Nigeria can unlock up to 95% of its largely untapped real estate potential, which is currently valued at approximately $2.6 trillion, making it Africa's largest property market. He highlighted that Nigeria has only exploited about 5% of its real estate assets.

China identified three key factors for growth: global market saturation, confidence in credible Nigerian developers, and stronger institutionalization of the real estate sector. He projected a potential surge of 65% in the remaining untapped market.

Port Harcourt was noted as an emerging real estate hotspot, growing at 30%, compared to 15% for Lagos and Abuja. China urged the Rivers State Government to digitize land administration and implement tougher sanctions against land fraud to boost investor confidence.

He also mentioned the Alesa Highlands Sustainable Green Smart City project in Port Harcourt, which aims to model sustainable urban development.