Just drain the water from The busiest place in Lagos, where 20 megacity people live in camps, landowners on Banana Island are selling a million-dollar residence, made of gold, black and cream.
“What we are selling is good,” said Sijibomi Ogundele, a 42-year-old general manager of construction and construction company Sujimoto, raising his hand around a house in Giuliano di Medici’s house. Pointing to the bathhouse of Zaha Hadid in the main bathroom he says: “Its design is one of the most expensive in the world.”
Ogundele is an economic sector in the largest city in Africa that has developed despite Nigerian economic growth, slower growth and high unemployment.
The riders are the wealthiest Nigerians who are looking elsewhere to save their money when the central bank has lowered the naira by more than a third against the dollar last year.
“We have a private market – one-third of 100%,” Ogundele said. “There are not many, their numbers are not increasing. . .[but] those people, no matter what, will buy. ”
The view from the Giuliano balcony – after passing through an empty space full of barns and lazy cows, big bulls – is the many houses built by Sujimoto.
Lucrezia, a 14-story mansion with waterfront housing for $ 1.9m, features a special Imax movie. Nearby is Leonardo, a 25-story building that houses 22 swimming pools and a “house glass”.
“In the Covid era, people… Didn’t waste money because they didn’t travel, they didn’t buy, they didn’t get anything, that’s why I think they feel rich,” said Andrea Geday, chief executive of El-Alan, a 25-year-old Bourdillon long-term contractor. especially in West Africa. “And the reduction of naira was something else, because they need to invest the money somewhere, and the only way is to buy land.”
From the 21st section of Geday to 4 Bourdillon, the architecture in Ikoyi, arguably the richest and most well-known region in Nigeria, is in full view.
Not only are there 12 houses climbing, plus one nearby, but many smaller projects – four-story buildings or several cookie-cut town halls.
The above towers serve the richest people in Nigeria, of whom Knight Frank estimates about 200,000 or 300,000, whose money is not their property, and who have second homes in London, Dubai, New York or Miami.
Some researchers are skeptical of any possible location in all of these new locations, mainly because of the large number of homes in Lekki and Ikoyi areas with only 30 or 40%.
The answer is that it would not be so important, given the sale of real estate and laundry, says Timothy Nubi, a professor of site management at the University of Lagos.
“There is one school that thinks it’s a way to save money with people who don’t have the opportunity to take their money out, or put their money in a bank – they just put their money in… And we hope they’ll sell it again years later,” said Nubi.
“She is OK. You drive around Ikoyi and you will see all the left side of the road [with buildings] which have no people. ”
This week, the head of the Crimes and Financial Crimes Commission in Nigeria, Abdulrasheed Bawa, told Channels TV that “90 to 100%” of the revenue comes from real estate.
At the retail office in Lucrezia, Ogundele said he had heard of the waste of money being part of a Nigerian sport, but did not see it. And there’s no money to steal right now! “He said, laughing at the state of the economy.
Taking into account the economic and social disparities in Lagos and Nigeria in general, Nubi said the government should focus on managing affordable housing in a city with about 2.5m housing while two-thirds of the population lives in camps, according to UN estimates. “We have a problem of inconsistencies in the Nigerian stock market,” he said. “What’s coming to market is not what people need.”
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