Real Estate to Drive Nigeria’s $1 Trillion Economy Ambition – Akintunde

Real Estate to Drive Nigeria’s $1 Trillion Economy Ambition – Akintunde

Lagos, Nigeria – The Group Managing Director of Alpha Mead Group, Femi Akintunde, has emphasized the critical role of Nigeria’s real estate sector in achieving the Federal Government’s $1 trillion economy ambition.

Speaking on the sector’s remarkable growth, Akintunde highlighted its impressive expansion, citing a 46.52% increase, a 16.5% quarter-on-quarter growth rate, and a 5.43% contribution to the country’s real Gross Domestic Product (GDP) in Q3 of 2024. According to him, the sector has now surpassed traditional economic drivers such as oil and gas, telecommunications, and agriculture.

He noted that if properly harnessed, real estate could significantly contribute to economic growth through extensive job creation, urban renewal, and increased tax revenue.

The Role of Facility Management in Real Estate Growth

Akintunde stressed that facility management plays a crucial role in sustaining this growth, pointing out that evolving trends such as sustainability, cybersecurity, automation, smart buildings, and artificial intelligence have expanded the industry beyond its traditional roles.

“The rapid development in real estate requires professional facility management services,” he said. “Without proper management, developers and property owners risk issues such as tenant dissatisfaction, legal disputes, structural deterioration, high repair costs, facility failures, and low investment returns.”

To maintain the sector’s growth trajectory, he advised real estate developers and investors to engage facility management experts, cautioning against attempting to manage facilities without professional expertise.

Alpha Mead’s Commitment to Real Estate Development

Akintunde also outlined how Alpha Mead Group is positioned to support Nigeria’s real estate sector, offering integrated facility management services to investors, developers, and property owners.

“At Alpha Mead, we continuously scale our operations to support real estate growth—not just in Nigeria, but across key locations in Africa,” he stated. “Our services are designed to help investors maximize returns while enhancing user experience.”

As one of Africa's leading ISO 9001:2015-certified facility management firms, Alpha Mead has provided top-tier services to Fortune 100 companies across Africa and the Middle East for over a decade. The company remains committed to driving excellence in real estate development, supporting both government and private investors in achieving their economic goals.

With its strategic approach to facility management, Alpha Mead is set to play a vital role in ensuring that Nigeria’s real estate sector remains a key driver of economic growth in the country’s pursuit of a $1 trillion economy.