Alpha Mead Chief Sees Real Estate Driving Nigeria’s $1trn Economy Ambition

According to him, the sector witnessed a 46.52 per cent expansion, 16.5 per cent quarter-on-quarter growth rate, and 5.43 per cent contribution to real Gross Domestic Product (GDP) in the third quarter of 2024.

He submitted that the real estate industry could create several jobs and help with urban and rural landscape renewal, as well as robust tax and fee contributions.

He tasked the government to pay special attention to the sector, noting that his company is making concerted efforts towards improving the performance of the real estate industry.

Mr Akintunde said the company aims to help both the government and private investors scale returns, even as users scale experience; noting that the role of facility management in boosting growth in the sector and the Nigerian economy cannot be over-emphasized.

“The sector leaped above oil and gas, telecommunications and agriculture which were traditional leading contributors to the economy, and facility management also played a part in this development.

“Trends in sustainability, cybersecurity, automation, workplace and home well-being, smart building and Artificial intelligence have expanded the operations of facility management consultants beyond the usual traditional roles, making engaging their services a necessity if the growth trajectory of the real estate sector will be maintained,” he posited.

He, therefore, cautioned developers, stakeholders, and other professionals in the real estate industry to maximise the roles of facility managers to hasten growth in the Nigerian economy.

The Alpha Mead MD also stressed that developers and owners should engage the services of a facility management firm or consultant in keeping tab with the growth trajectory of the real estate sector.

“It is most likely that it will be overwhelming to keep up with the growth trajectory of the real estate sector and cope with trends in facility management.

“An attempt to self-play both roles will yield poor facility management which snowballs into an unsatisfactory tenant experience, complaints, court cases, unrealised utility projection, threat to human health and safety, structure deterioration, expensive repairs, facility failure, abandonment, and low investment yield,” Mr Akintunde said.

Currently, Alpha Mead Group is one of Africa’s leading facilities management companies. It is certified to ISO 9001:2015 international standards by United Kingdom Accreditation Services, UKAS, providing Integrated Facilities Management operations and Consultancy services to large-scope, complex, and multi-serviced facilities across Africa.