The Minister of Housing and Urban Development, Ahmed Dangiwa, has advised foreign investors at the Saudi Real Estate Forum to use the massive opportunities within Nigeria’s housing sector, particularly through the Federal Government’s Renewed Hope Cities and Estates Programme.
This is according to a statement on Tuesday, January 28, 2025, by the Special Assistant Media and Strategy to the Minister, Mark Chieshe.
Dangiwa noted the great growth prospects in Nigeria’s real estate market.
He said: “Nigeria’s real estate sector contributed around 5.2 per cent to the nation’s GDP in 2024, and will increase in market volume to $2.25 trillion by the end of 2025.
“Despite this, there is still tremendous investment opportunity, especially in the Residential Real Estate segment. Nigerians need homes now more than ever and you can partner with the Nigerian government to deliver these houses at scale.
“The government is tackling this by prioritizing large-scale housing delivery through public-private partnerships, innovative financing, and government-led interventions.
“Housing is a fundamental driver of economic growth, social stability, and national development.
“However, achieving a balance in the real estate sector between affordability and profitability means that the challenges of sustainability and cost efficiency, as well as policy and private sector incentives, must be addressed.”
Source: www.mynigeria.com
