Founder and CEO of CMW Properties Ltd, Christopher Omonole, has shed light on issues facing the Nigerian real estate industry.
The former marine safety expert turned real estate developer, made a successful transition into the real estate industry. His company provides affordable housing solutions to hundreds of clients across Nigeria.
Omonole said: “The major issue facing the real estate industry in Nigeria is the high inflation rate, which has led to a decrease in purchasing power and a decline in demand for property. However, CMW Properties Ltd has implemented strategies to mitigate the effects of inflation, such as constantly reviewing pricing and cost structures, negotiating better deals with suppliers, and investing in technology to improve operational efficiency”.
On how he’s remained relevant in the real estate market, he said:”I stay up to date with the latest trends and changes in the Nigeria real estate sector through continuous training on vast amounts of data and information. I also regularly monitor relevant news sources and industry publications to keep abreast of new developments and emerging trends. With advanced algorithms and machine learning techniques, I can analyze vast amounts of data and identify patterns and trends that may not be immediately apparent to human observers. Furthermore, I can process and synthesize information from a wide range of sources to provide comprehensive insights into the sector”.
He also spoke on the success of his company
CMW Properties Ltd, he said:” CMW Properties completed City Prime Estate and recently launched TopVille Estate and Silver Prime Estate in Epe, which has eco-friendly features and are already showing signs of success”.
His years of experience working as a marine safety officer has afforded him the knowledge and experience to take several measures to ensure safety in their projects and mitigating risks.
“With my experience as a professional marine safety officer and a real estate developer in Nigeria, there are several measures I take to mitigate risks and ensure safety in our projects. These include conducting thorough due diligence on potential properties and their ownership, partnering with reputable contractors and suppliers, obtaining necessary permits and insurance, and ensuring compliance with all relevant regulations and building codes,” he said.
By: Blessing Enechojo Abu