The Managing Director/CEO of Propertygate Development and Investment Plc, Mr. Adetokunbo Ajayi has   identified the competitive edge of the company despite the challenges facing the real estate sub-sector in Nigeria. Speaking at the company’s Annual General Meeting, AGM, Ajayi who listed the key growth factors. He said the company would continue to wax stronger irrespective of the challenges militating against the real estate sector.

From left: Director, Propertygate Development and Investment Plc, Mr. Wole Ogungbola; Managing Director and Chief Executive Officer, Mr. Adetokunbo Ajayi and Company Secretary, Mrs. Tosin Arinola, during the company’s 6th Annual General Meeting, in Lagos.

“Propertygate Development and Investment Plc is comforted by the fact that it is in a business where the need for its products and services remain tremendously high, and will continue to be so for a long time to come. The company will continue to review key strategic issues of markets and products, sales, funding, production and marketing, in addition to strengthening its operational strategy”, Ajayi told shareholders.

Commenting on the factors that would help drive growth in the real sector, he explained that the products and services in the real estate are always in high demand. He said another set of growth drivers are the nation’s demography, planned economic expansion, much anticipated growth in infrastructure and the atmosphere of hope generally.

On the perennial difficulties facing operators in the real estate sector, he noted that there are still threats and internal weakness that must be addressed such as the rise of operators whose compliance level is very low. “By their activities, they distort competition, negatively impact the built environment and grossly undermine the high professional nature of the real estate vocation,” he said.