Property Development Services in Nigeria: The Largest Construction Company You've Never Heard Of!

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From the moment you step foot in Nigeria, you’ll know something is different. There’s never a shortage of people willing to help you find a house, apartment or office space. In fact, there are so many property agents waiting for you to finalize your real estate search that it might be difficult to figure out who’s legit and who isn’t. With over 20 million residents and an additional 4 million foreign expats currently residing in the country, there’s no doubt that Nigeria is one of the fastest growing markets with regards to real estate development. This has led to the rise of new players in the property development services industry. However, despite this increased demand for housing and commercial spaces, most construction companies will operate under suspicious circumstances and/or charge extremely high rates as if they were part of some secret society.

What to Know Before You Go Looking for a Property Development Company

- Know Your Budget: First and foremost, you’ll have to know your budget. If you’re looking to build a residential property, you’ll probably be looking to spend between $100,000 and $400,000 depending on the size, location, amenities and other factors. Commercial properties cost, on average, $300 per square foot, regardless of location. - Know What You Want: Secondly, you’ll want to figure out what you want in terms of location, size and amenities. Do you want a small apartment or condo unit close to a major commercial or residential area? Or do you want a large estate with plenty of green space and room for expansion? - Know How You Want to Pay: There are a few different ways you can pay for your new property. You can get a mortgage, which is probably the most widely used method in Nigeria. However, you should be aware that there are different types of mortgages in Nigeria and you’ll have to be careful because some can be very deceptive. - Know When You Need the Construction to Be Completed: You also have to make sure you know when you need the construction to be completed. While this may seem like a silly thing to include, it’s actually very important. Why? Because most Nigerian construction companies will build your house in phases and will require payment in stages as well.

How to Find the Right Real Estate Development Company in Nigeria

- Do Your Homework: You might assume that the first company you come across is the best one for your needs. However, this isn’t always the case. To make sure that the construction company you hire is truly the best one for your needs, you’ll want to do your homework. - Talk to Other Customers: You can easily find out if a construction company is trustworthy by talking to other customers. If you come across a company with a lot of positive reviews and testimonials, chances are they’re the real deal. However, if you come across a company with lots of negative reviews, run! - Look for Government Bonds: You can also tell if a construction company is trustworthy by looking for government bonds. If a construction company has government bonds, it means that it’s been in business for a long time and is a legitimate business. - Check Their Website: You can also tell if a construction company is trustworthy by checking their website. If their website is poorly designed and has little to no information, you can bet it’s a scam. If their website, on the other hand, is professionally designed and provides you with all the information you need, you’re probably dealing with a real company.

5 of the Largest Real Estate Development Services Companies in Nigeria

- Julius Berger: Founded in 1902, Julius Berger is one of the oldest and most reputable construction companies in Nigeria. This company has been involved in numerous high-profile contracts, including the construction of the Bartholomeus Bridge in the Netherlands and the Standard Oil Building in New York. - UBA: UBA was founded in 1968 and is one of Nigeria’s largest and most diverse conglomerates. This company currently employs over 20,000 people, making it one of the largest employers in the country. UBA is also one of the largest property developers in Nigeria. Some of its most notable projects include the UBA Central Business District and New Lagos waterfront. - Oando: Oando was founded in 2000 as a partnership between five individuals. The company is currently worth over $1 billion and is one of the largest private oil and gas companies in Nigeria. They also have an active real estate division that is currently involved in several large-scale residential and commercial projects. - Dangote: Dangote is currently one of the richest individuals in Africa and is worth over $22 billion. This is one of the largest and most reputable construction companies in Nigeria. The company has participated in numerous high-profile government contracts and has been recognized as one of the most responsible and sustainable corporations in the country. - Lafarge: Lafarge is one of the largest cement manufacturers in the world, currently controlling over 12% of the entire industry. In recent years, this company has expanded its operations to include real estate services in Nigeria. They are currently involved in major residential and commercial projects throughout the country.

Conclusion

There’s no doubt that the Nigerian property development services market is an extremely competitive one. This is due to the extreme growth of the market in recent years and the fact that there are currently no laws in place to regulate the industry. As such, it’s extremely important that you do your research and find the best construction company for your needs. If you do so, you can rest assured that you’ll get what you pay for and you’ll be able to enjoy your new home once the construction is complete.