Immobilium Nigeria and its U.S.-based counterpart, Immobilium USA, have announced a strategic partnership aimed at driving innovation, sustainability, and accessibility in the sector. Unveiled at a high-profile event in Lagos, this collaboration promises to leverage global expertise and local insights to address Nigeria’s housing deficit, stimulate economic growth, and elevate the country’s real estate industry to international standards.
The partnership comes at a pivotal moment for Nigeria, where real estate has recently surpassed oil and gas to become the nation’s third-largest economic sector, contributing 5.43% to real GDP in Q3 2024, according to the National Bureau of Statistics. With a housing deficit estimated at 28 million units and a projected market value of $2.61 trillion by the end of 2025, the sector is ripe for transformation. Immobilium Nigeria, a leading property development firm, and Immobilium USA, renowned for its cutting-edge real estate solutions, aim to capitalize on this opportunity by introducing ambitious projects and technology-driven approaches.
Speaking at the launch, Chinedu Okeke, CEO of Immobilium Nigeria, highlighted the partnership’s potential to bridge Nigeria’s housing gap. “We’re not just building structures; we’re creating communities that empower Nigerians,” Okeke said. “With Immobilium USA’s expertise in smart technology and sustainable design, we’re poised to deliver affordable, high-quality housing at scale.” The initiative aligns with the federal government’s Renewed Hope Cities and Estates Programme, which seeks to provide accessible housing amid rapid urbanization and a growing middle class.
John Harper, President of Immobilium USA, emphasized the global-local synergy driving the collaboration. “Nigeria’s real estate market is dynamic and full of untapped potential,” Harper noted. “By combining our advanced property management systems, data analytics, and green building practices with Immobilium Nigeria’s deep market knowledge, we’re setting a new benchmark for the industry here.” Harper pointed to plans for mixed-use developments in Lagos, Abuja, and Port Harcourt, featuring residential units, commercial spaces, and recreational facilities designed for modern urban lifestyles.
A flagship project under this partnership is the “Green Horizon Estate” in Lekki, Lagos, scheduled to break ground in June 2025. The 50-hectare development will include 2,000 residential units—ranging from affordable apartments to luxury duplexes—equipped with solar power, smart home systems, and flood-resistant infrastructure. The estate aims to address sustainability concerns in a city prone to flooding while catering to diverse income levels. “This is about inclusivity,” Okeke added. “We’re ensuring that both the middle class and young professionals can own homes without compromising on quality.”
The collaboration also introduces proptech innovations to streamline property transactions and management. Immobilium USA’s proprietary platform, already successful in American markets, will enable virtual tours, blockchain-secured land titling, and automated valuations for Nigerian buyers and investors. This move tackles long standing challenges such as bureaucratic delays in land registration and fraud, which have deterred investment. “Transparency and efficiency are key to unlocking Nigeria’s real estate potential,” Harper said. “We’re bringing tools that make buying a home as seamless as ordering online.”
Industry experts have welcomed the partnership, citing its timeliness amid Nigeria’s economic diversification. Muda Yusuf, CEO of the Centre for the Promotion of Private Enterprise, described it as “a game-changer.” “Real estate is proving to be a cornerstone of Nigeria’s future economy,” Yusuf said. “This collaboration could attract more foreign direct investment and set a precedent for scalable, sustainable development.”
However, challenges remain. High construction costs, driven by fluctuating exchange rates and import duties on materials, pose risks to affordability. Critics also question whether the focus on urban centers like Lagos will adequately address rural housing needs. Okeke acknowledged these hurdles but expressed optimism. “We’re exploring local material alternatives and public-private partnerships to keep costs down,” he said. “Our vision extends beyond cities—we want to transform housing nationwide.”
The partnership has already garnered interest from diaspora investors, with Immobilium USA facilitating connections to Nigerians abroad eager to invest in their homeland. A dedicated “Diaspora Property Desk,” launched alongside the Green Horizon project, aims to simplify offshore investments and strengthen economic ties.
As Nigeria’s real estate sector continues its upward trajectory—projected to grow at a compound annual growth rate of 6.91% through 2029—the Immobilium Nigeria and Immobilium USA alliance signals a new era of innovation and ambition. With plans to deliver 10,000 housing units by 2030 and expand into secondary cities like Enugu and Kano, the duo is poised to leave a lasting mark on Nigeria’s urban landscape.
