Femi Akintunde, Group Managing Director (GMD), Alpha Mead Group, has said, that the Nigerian Real Estate Sector has the capabilities to drive the Federal Governments’ $1 trillion economy ambition.
Akintunde disclosed this while citing the immense contributions of the Real Estate industry to the Nigerian economy, pointing out that the sector witnessed a 46.52 percent expansion, 16.5 percent quarter-on-quarter growth rate, and 5.43 percent contribution to real Gross Domestic Product (GDP) in Q3 of 2024.
He stated that if properly harnessed, the real estate sector will play a significant role in driving the achievement of Nigeria’s N1 trillion economy ambition through extensive job creation, urban and rural landscape renewal, and robust tax and fee contributions.
In his words: “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, 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.
He said: “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.”
Akintunde further outlines numerous benefits that developers and owners of properties stand to gain by utilizing Alpha Mead’s expertise in facility management.
He said: “At Alpha Mead Group, we keep scaling our operations to support the growth of the real estate sector – not just in Nigeria, but across the key locations within the African region. Our services are designed to help investors in the real estate sector achieve their objectives.”
He further noted that concerted efforts are being made by Alpha Mead towards improving the performance of the Real Estate industry. 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 Real Estate sector and the Nigerian economy cannot be over-emphasized.
Currently, Alpha Mead Group is one of Africa’s leading Facilities Management Companies. The company 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. For over a decade, they have provided quality facility management services to some of the Fortune 100 companies operating in Africa and the Middle East markets.
