•REVOLUTIONPLUS Property MD, BAMIDELE ONALAJA
RevolutionPlus Property is one of the biggest property companies in Nigeria who focus more on affordable properties/land. RevolutionsPlus is a 4 years old property company. Last year, the company played a major role in the sector; it partnered the Access Bank Lagos City Marathon Lagos City Marathon, an Annual Lagos International Marathon event. The company also signed Naija’s biggestYoruba movie actor, Odunlade Adekola as Brand Ambassador. The MD of the company, Mr. Bamidele Onalaja has really distinguished himself amongst his peers who deal in the same business. Presently, RevolutionPlus Property is planning to play a significant role in this year’s Lagos City Marathon.
Last week, City People Magazine Publisher, SEYE KEHINDE, led a team of senior staff, made up of Deputy MD, FRANCIS OWOJORI, Production Manager, WAHAB BASIR, Head of Real Desk, ISAAC ABIMBADE and Senior Photographer, FEMI ADELEKE to his Ikeja Head office. City People spent more than 2 hours with him during which he spoke about his plans for real estate in 2019 and many other stories in an extensive interview. Below are the excerpts of the interview.
Let me start by asking you to share your thoughts on this year; what it has for real estate?
Year 2019 for us is a great year. We have so many plans lined up. We are coming with new projects this year, basically most of them will be housing projects, and developing new houses. We are extending our tentacles to other states. For instance, we are going to Port Harcourt. We are also going to Ibadan. Infact, Ibadan is almost done. We are moving also to Owerri and some other parts of the country. We are also expanding in Abuja. We already have big presence in Abuja. And we are doing more projects in Abuja this year, about 3 to 4 projects. We are also moving towards Badagry in Lagos. In 2019, our hands are full.
We are presently building houses in some of our existing estates. We are building houses as low as 4.5 million naira for a bungalow of 2 bedroom. You can also get a 3 bedroom bungalow for 6.5 million at RevolutionPlus Property. With 80 Percent down payment you can move into the house. So those are some of our plans this year.
We also want to focus more on development of Property this year. You know we have been selling land. So, what we want to do now is Site and Service, where we provide infrastructures and people buy from you and you build for them. We are going into full housing development and its affordable. It sells as low as 4.5million to 6.5million. And you can pay this money over 36months, interest free mortgage.
How was 2018 if you can look back?
2018 was a good year for us. It was a supernatural year. We had a great year with several challenges but we conquered it because we are focused. We have wonderful staff; they have been supporting me over these years. I also have my wife’s support and my realtors who have been supporting for many years. Despite all the challenges in the Nigerian economy, we were able to provide affordable houses for people and that has always been the focus of RevolutionPlus Property. We started 4 new projects in 2018. Projects like Grandeur Court, Champions Court, Brooklyn Court 1 and 2. We also started housing development at Flourished residences in Sangotedo. So, 2018 was a big year for us.
In 2019, our target is bigger! We want at least, do 10 projects this year by God’s grace because we are moving to other states.
There are real some estate players who are a bit worried about the political situation of the country and also the purchasing power in 2019. What can you say about that?
Politics is around and purchasing power seems to drop which is normal in any political year. So, it’s not only peculiar to Nigeria, it’s everywhere. People still buy properties but most politicians now, because there is a
More properties will start selling but I can tell you authoritatively that more properties will be sold this year. The reason I said this is that some of the money these politicians have distributed all around, money they spent on artisans, on the people that made their signboards and fliers, on the TV and radio stations. So all these people will want to invest it. I also think more money will be in circulation this year because of this more people will buy land, they will buy more houses, they will invest more
With the kind of economy we have, do you still think real estate is the best one can invest his or her money?
I will say categorically yes! Real Estate is the best investment. I went into stock several years back, about 10 years ago. I lost some money then. So, up till now, so many people who had their money in stock could not recover. Even Foreign Exchange is not dependable like real estate. Real estate appreciates every day. You can see your money growing. You can see it appreciate every day. In 50 years from now, a house you bought for 10 million naira you will sell it for nothing less than 100 million if you want to sell it in 50 years after. But stock and any other investments don’t give such guarantee. Anything can happen to that investment. Did you know that real estate was 5th GDP contributor to Nigerian economy last year? That means everybody is coming into real estate investment, and they are investing in it. I will choose real estate over any investment any day, anytime.
We also noticed RevolutionPlus property is also investing heavily in the sporting sector. Can you tell us why?
Because Sports is life. Just like housing is life, Sports is life. Because it’s only a healthy man that will live in a house; a dead man can’t live in the house.
We are the title Sponsor of Lagos City Marathon which is happening February 2nd. We strategically partnered them to encourage our partners, our customers, our friends and families to get involved in sports because it’s only when you are healthy you can do business with us at RevolutionsPlus Property. I do exercises every morning and I tell people that I am healthier now compared to the time I wasn’t doing it. That is the whole idea. And that’s why we decided to partner Lagos State Government, precisely, The Access Bank Lagos City Marathon. Also as a property entrepreneur, it is important we synchronise with state government.
I want to thank the state government for supporting us because it’s like a give and take thing.
I’m also on many sports radios because I want to educate people that sports is life. If you are sporty and healthy you can build houses, you can live in your own house as a healthy man.
A dead man can do nothing. We don’t only support sports, we support any initiative that’s valuable to the society. So far it’s going to add value to the society and it will
What will be your advise to the government at the state level and federal in terms of polities that will help your sector?
Election is every 4 years. It will be good if the incoming government can follow the policy of the outgoing government so that there can be continuity. It helps the economy of a country. It shows to the world that we are serious. When a government start a project and another government comes in, it’s expected for the incoming government to complete the project. We also want the incoming government to pay more attention on housing. If I want to do C of O, it should be ready in less than 6months. A deed of assignment, governor consent, I should get it in 3 months. If as real estate players we can get such things done, everybody will be happy. I have governor’s consent!! I have been pursuing for like 18months. That’s just governor’s consent. It makes no sense.
Land documentations in Nigeria needs to be smooth and better. Because once your property has documentation, the property goes up, it adds value and you are safe.
What would also be your advice for Lagosians who want to buy landed property?
Right now, the best place to invest is Ibeju-Lekki. The reason is very simple. Dangote refinery is coming up there. I was there last month. You need to be there to see how big it is. Apart from the refinery, there is a Petrol Chemical company owned by Dangote, as well. There are Chinese Companies. There are German Companies, there is a seaport. There
As a Lagosian, that is the best place to invest. We will have over 10 housing estates in Ibeju Lekki, all you have to do is call RevolutionPlus and we will take you there and choose whichever one you want.
Presently, everyone is rushing to that side to invest. We also have houses and properties at Abijan GRA and Sangotedo that you can build immediately. Everybody is looking toward the Island to invest. On the Mainland, we have properties in Ikorodu, we have in Mowe, Simawa. We have properties in almost everywhere.