By Benson Daniel
Experts in Nigeria’s real estate and hospitality sectors have called on the Federal Government and private investors to address financing, infrastructure and regulatory challenges limiting growth and investment in the industries.
The Group Managing Director and Chief Executive Officer of Haldane McCall Plc, Dr Edward Akinlade, said high construction and operating costs, elevated interest rates, inadequate infrastructure and bottlenecks in land administration were making it difficult for developers to expand housing supply and attract private capital.
Akinlade said access to affordable long term financing remained critical to the development of the real estate sector, particularly as developers contend with rising construction costs and expensive credit.
He urged the government to simplify land administration processes, accelerate the registration of land titles and provide greater policy stability in taxation, planning and other regulations affecting property development.
According to him, delays in obtaining land titles and approvals can increase project costs and discourage investors from committing funds to large scale developments.
He also called for increased investment in roads, electricity and water infrastructure, arguing that improved public infrastructure would reduce the cost of developing and operating residential and commercial properties.
Akinlade further advocated stronger public private partnerships to enable government and private investors to collaborate on large scale projects capable of expanding housing supply and supporting economic development.
The hospitality sector, he noted, faces many of the same challenges, with high energy costs, expensive financing, weaker consumer spending and infrastructure deficits affecting the profitability and sustainability of businesses.
He urged the government to introduce targeted incentives for hospitality investors while improving tourism infrastructure, transportation and security across major destinations.
Akinlade said reducing unnecessary regulatory and tax burdens would also make the sector more attractive to investors and encourage the development of new hotels, resorts and other tourism related facilities.
He maintained that a stronger hospitality industry could create employment, stimulate local businesses and generate additional revenue through tourism and related economic activities.
Beyond government intervention, the real estate executive called on investors and industry operators to adopt disciplined capital allocation strategies and explore strategic partnerships that could reduce financial risks and improve project delivery.
He disclosed that Haldane McCall was expanding its development pipeline, with plans for the second and third phases of its Mile 12 project in Lagos. The phases are expected to comprise 64 two bedroom apartments following the completion and sale of the earlier phase.
The company has also completed a joint venture arrangement for the development of 32 three bedroom apartments at Olateju Street in Olorunsogo, Lagos.
Akinlade said the projects were expected to strengthen the company’s revenue pipeline while allowing it to deploy capital more efficiently.
He added that the company was focused on expanding its project portfolio, pursuing strategic partnerships and maintaining disciplined investment decisions as it seeks to build a more diversified real estate business.
The call for reforms comes amid increasing demand for housing and hospitality services in Nigeria, even as developers continue to face significant cost pressures.
The real estate sector remains an important contributor to economic activity through construction, employment, property services and related industries. However, access to affordable housing remains a major challenge, particularly in rapidly growing urban centres.
Industry stakeholders have therefore continued to emphasise the need for policies that encourage private investment while making property development more affordable.
For the hospitality industry, improved infrastructure and a more predictable regulatory environment could similarly encourage fresh investment and support the expansion of tourism related businesses.
Akinlade said collaboration among government, investors and other stakeholders would be essential to unlocking the full potential of both sectors.
He maintained that addressing financing constraints, infrastructure deficits and regulatory bottlenecks would help create an environment where developers can invest with greater confidence and deliver projects capable of supporting Nigeria’s broader economic growth.
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