ABUJA—In spite of the hype on the effect of the global economic meltdown on the nation’s economy, the Minister of Works, Housing and Urban Development, Dr. Hassan Muhammad Lawal has said the country’s economy was strong and offered the best investment opportunity in Africa.
Dr. Lawal who stated this while welcoming the proposal by the Turkish Construction Giant TASYAPI Construction Undertaking to participate in the construction industry in Nigeria, said the fact the country is enjoying stable polity glitters its fortune as investment hobnob in the continent.
Led by the General Manager and member of the Board of TASYAPI Construction Undertaking, Mr. Goksel Bodur, the Minister assured the Turkish Firm that Nigerian economy was strong and the polity stable and offered the best investment opportunity in Africa.
He recalled that Nigeria and Turkey have a very cordial bilateral relationship and told the Turkish delegation that they had nothing to fear.
He said the coming of the Turkish company into the Nigerian construction industry would strengthen the existing cordial bilateral ties between Nigeria and Turkey.
He urged the company to comply with legal stipulations for business operations in Nigeria, and explore their areas of interest with relevant officials in the Ministry.
The Minister also called on them to participate in joint venture schemes with the Ministry to provide beautiful and affordable housing schemes for Nigerians, noting that the sector was very viable and lucrative.
He said the Federal Government will welcome the injection of international capital and investment in the housing sector to ease the problem of affordable and decent housing in the country.
Addressing the Minister earlier, leader of the Turkish delegation Mr. Goksel Bodur said they were the third largest construction company in Turkey and were currently involved in construction projects in Europe, Asia and the Middle East.
Written by Chris Ochayi
Tuesday, 03 March 2009
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Market Statistics show that in the year 2008 the African Real Estate Sector performed stronger than the US Real Estate Sector, as strong as the European Real Estate Sector with only the Real Estate Sectors of Asia Pacific and the Middle East showing more strenght than the African Real Estate Sector. Whereas the African Real Estate sector was the least affected by the global economic crisis, which indicates that the African Real Estate is the most resilient of the worlds Real Estate Markets and is as profitable as any other market whrereas it is in its infancy and has enormous capacity for growth,growth is inhibited because many global Investors still errorneously perceive Africa as the dark continent to their own peril, because Africa is the new frontier for business.
ReplyDeleteAny savy or prudent Real Estate Investor would know that this is the best time to enter the African Real Estate market, because demand is greater than supply in the sector, the statutory requirements placed on investors are liberal, tax considerations are very good and the continents economies are growing at a phenomenal rate.
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