Nigerian Real Estate sector is currently battling economic challenges ranging from contractors’ time inefficiencies, inflation and the fluctuating Forex, which has severely impacted the procurement of construction material.
This was disclosed by the Chief Executive Officer, LandWey, Olawale Ayilara, in an interview with an online news platform, Nairametrics on Wednesday.
According to him, while it may appear on the surface that the world has made a successful return to business as usual, this is not the reality of most businesses, especially the Real Estate sector which is still battling with the challenges mentioned above.
He said, “Since 2020, companies like LandWey have battled different challenges ranging from contractors’ time inefficiencies, inflation and the fluctuating FX, which has severely impacted the procurement of construction material.
“There is a lot to be said about the burden of construction in Nigeria. However, at LandWey, we have learnt that construction requires a daily review of our processes and improving on them. In the reality, we are learning to adapt to thrive. The companies that survive these challenging times are those that can lead with integrity and have a deep understanding of their customers.
“We are facing these challenges by being optimistic despite the tough market conditions and devising new strategies that will enable us to create greater value for our customers in the long run. We are bringing together our industry expertise; quality product and service applications, and safe and reliable supply to provide more viable solutions.
“As part of its efforts to deal with the ripple effects of these current challenges, LandWey has constantly improved its communication to clients who may be understandably displeased with the delays. Through routine project updates, an increased workforce and an efficient work plan towards delivery, LandWey is also optimizing its processes to keep to its promise of quality service to clients.”