A recap of major talking points in real estate in 2021
From the beginning, the COVID-19 pandemic has defied almost every economic prediction. In March 2020, stores, restaurants and offices emptied out with astonishing swiftness. The stock market tanked and jobs quickly disappeared. But what many Nigerians feared would be a long and devastating economic downturn didn’t happen.
The economy—along with the real estate sector—bounced back in record time. Surprisingly, the real estate sector in Nigeria experiences a 6 year record growth. However, 2021 was a very interesting time for the real estate sector in Lagos. Here’s a recap of the major talking points.
1. The commencement of major road constructions in Ibeju Lekki. These roads include;
2. Dangote refinery completes light testing of the world’s biggest crude unit heater: Though it was expected to commence operations in the first quarter of 2021, a major milestone was reached this year as the refinery completed light testing of the world’s biggest crude unit heater.
3. Construction on the Seaport reached 70% completion: Expected to be commissioned before 2023, the Lekki deep port reached 70% completion status this year.
4. Governor Babajide Sanwo-Olu ordered full excision on all untitled lands in Ibeju Lekki: Aimed at curbing land grabbing in Lagos, Governor Babjide Sanwo-Olu ordered the full excision of untitled land in Lagos State.
Are there any things you think we missed out on? Drop a comment in the comment box below to let us know.