Trends from 2020 1. Evacuation Of Expatriates & Foreigners: Foreigners & Expatriates contribute a significant percentage to the tenant pool of luxury residential properties. Amid the COVID-19 pandemic, a number of countries organized the evacuation of their citizens from visiting countries. This contributed to the shrinking of the foreign tenant pool in Nigeria, thereby...
Dubai nicknamed the city of gold has had a remarkable growth story from its days of being a fishing village to a closely quintessential city with bold architecture, modern infrastructure, and a sophisticated lifestyle. Similar to Nigeria, Dubai’s transformation began following its discovery of oil in 1966 at the offshore Fateh Field. Dubai rode on...
Remittances to Nigeria from the diaspora have grown 14x in 20 years, now accounting for about 5% of the Nigerian GDP at $20.97bn. Diasporans remitted over $25.1 billion in 2018, close to 1.5x higher than Nigeria’s 2018 gross oil revenue of $18.2 billion. Data from the National Bureau of Statistics (NBS) also revealed that the...
This plunge in yields from treasury bills and restriction of corporates and individuals from Open Market Operations (OMO) has shifted Nigeria’s investment narrative towards alternative sectors such as Real estate. Historically, investors including HNI’s, pension funds, treasury departments of multinationals simply invested in risk-free government securities and ignored other segments as they were largely...
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