Version: CN
Global real estate giant IQI, a member of Asian PropTech group Juwai IQI, announced today its first entry in Africa with the launch of IQI Wolfe Nigeria.
The presence in Nigeria extends IQI’s network of more than 40,000 agents to a total of 23 countries and its ambition to cover the whole of Africa and serve its population of 1.28 billion people.
The new office is led by Abisoye Oluwo, a local real estate veteran and Managing Partner of Lagos’ Wolfe Realtors.
Juwai IQI Co-Founder and Group CEO Kashif Ansari said: “We are delighted to announce that we are now in Africa and expect Nigeria to be followed by new offices in several other countries. It is our pleasure to have such an experienced member of the local real estate industry as Abisoye join our network.
“Africa is home to the world’s fastest growing and youngest population, and the continent will host the world’s largest working age population by 2040. It is also the fastest urbanising region in the world.
“By 2040, Africa will be home to 12 cities of more than ten million people each, and 19 cities with populations between five million and ten million.
“The continent is also the scene of vibrant economic growth and has produced 345 home-grown companies with revenues of at least US$1 billion. Just this decade alone, African consumer spending will increase by US$3 trillion, as more young consumers enter the consuming class.
“This growth presents abundant opportunities for a global real estate brand and we see many attractive markets on the continent.“
Kashif Ansari
“Nigeria is one of the fastest growing countries in Africa with a population and economy that are expected to boom over the next few decades.
By 2050, the country will have about 392 million people, making it the world’s fourth most populous country. Nigeria will be the second largest country in the world by the end of the century.“
Juwai IQI Co-Founder and Group Managing Director Daniel Ho said: “We’re excited to partner with Abisoye and his team in serving the dynamic and rapidly growing Nigeria and wider Africa market.
We see great potential in Nigeria and want IQI to be the real estate team that successfully adapts global standards and technology to take leadership in serving local developers and consumers.
Daniel Ho
This year alone, there will be US$15.3 billion of total residential transaction value, according to estimates.”
Mr. Oluwo said, “I am delighted to be joining the IQI network and launching IQI Wolfe Nigeria. This is a significant opportunity for the local market to benefit from the presence of one of the world’s fastest growing real estate networks and the PropTech giant it is part of.
“Nigerians have a deep appetite for real estate investments and home ownership, which is considered a guarantor of wealth and financial stability.
One of the fast-growing segments of the market is gated communities that offer amenities and security, and which are popular both with middle class buyers and expats living in Lagos.
The number of these communities is increasing, and more of them are combining, not just residential, but also commercial, retail, and recreational developments in a single large project.
“We see an increasing presence of foreign investors and Nigerian expats in the market. Nigerians are also actively investing overseas especially in Asia, and with this fruitful collaboration we look to provide these investors with even more options and better global level service.”
Abisoye Oluwo
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