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‘Why entrepreneurs should invest in real estate’

By NKIRUKA NNOROM

An expert in the property market has advised budding entrepreneurs to take advantage of opportunities in the real estate sector to grow their income, describing the sector as investors’ haven.

Chairman/CEO, Genesis Group of Companies, Ichie Nnaeto Orazulike, made the call while speaking at Fidelity Bank’s SME Forum, in Lagos.

Speaking on “Growing a Diversified Group of Businesses” at the forum, Orazulike said that the property business is one area where investors can expect to recoup their investment within a short period of time because of the high return on investment (ROI). He advised Small and Medium Scale Entrepreneurs (SMEs) desirous of growing their businesses to make conscious efforts to tap into the huge property market in the country even as they plough back the excess funds into their business.

“Naturally, as you grow your business and develop it, the best thing to do with the excess which the business didn’t absorb is to invest it in real estate,” he said.

Orazulike, who is also a director in Fidelity Bank Plc., said he veered into business immediately after his National Youth Service Programme (NYSC) essentially because he wanted to do something different. He said that real estate is an investment he would advise every entrepreneur to take on, noting, “real estate, as far as I am concerned, is the best for value. It will grow over time; outlast you and generations to come.”

 


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