LAGOS Property Player, AJEWOLE AKERELE
When discussing about successful property firms which have been making waves in Lagos, over the past 3 years, Gidi Real Estate Investment stands out. Founded in 2022, this company specializes in real estate development and offers investment services also.
The company is known for providing safe real estate investment opportunities with the potential for over 100% Return On Investment (ROI) in the near future. The company has launched several exclusive estates, including the Epe Gardens series. Mr. Ajewole Akerele serves is the Chief Executive Officer.
A few weeks ago, he shared insights with ISAAC ABIMBADE (08155107955) on what sets his company apart in the real estate market. Below are excerpts.
Can you tell us a bit about your company?
Gidi Real Estate Investment Limited focuses not just on bricks and mortar, but more on value creation. We take pride in being a company built in Africa, contributing to various aspects of life, not just real estate. Our mission is to add value to life, so it’s beyond just buildings; it’s about creating a value chain through real estate.
One of our projects in Mowe is called Mowe Golf Town, developed in partnership with Legal Homes and Property. The concept behind Mowe Golf Town is to create a landmark community in Mowe, designed for living, working, and playing. Within Mowe Golf Town, we have a commercial village designated for business purposes. Additionally, we are building a bungalow resort that is self-sustainable—the first of its kind in South West Nigeria—using polystyrene construction. The community will also feature a standard golf course.
We also have an area called Creek View, where you can purchase land overlooking the water to build your dream home.
Do you have property in Lagos?
Yes, we do. In Lagos, we are working on several projects, including Palm Residence Phase 2 (TPR2). This project consists of terraced duplexes, fully detached duplexes, and apartments. We also have the Civic Residence project, designed for the “1% of the 1%,” targeting senior citizens in the country. This estate features bungalows and fully detached duplexes, with plans for a love garden that includes an artificial lake. We expect to deliver this project in the next couple of months.
Additionally, we are developing Civic Town, which overlooks the proposed site for the Lekki Airport. Our latest project is called Lekki Coastal City (LCC). The purpose of Lekki Coastal City is to position investors to take advantage of opportunities related to the refinery, seaports, coastal roads, factories, and especially the free-trade zone. Our goal is to attract investors who understand land banking, time projection in real estate, and the trends in real estate acquisition in Lagos.
For the benefit of our readers and potential clients interested, what are the other attractions to your company?
First and foremost, we indemnify ourselves for all properties that we sell; we take full responsibility for them. Additionally, we do not sell untitled land. All of our properties come with titles, specifically either a Certificate of Occupancy (CofO) or government allocation. This ensures that all our properties are legitimate and legally recognized.
Now, let’s talk about Mowe Golf Town. There is a common belief that golf is only for the wealthy and privileged. This mentality has persisted among many Africans. However, when we travel abroad, we see average individuals enjoying golf for fun and leisure. At Mowe Golf Town, we aim to change this perception by creating an inclusive environment centered around golf.
Upon entering Mowe Golf Town, the first feature you’ll encounter is the commercial village. Here, we invite investors to develop offices, schools, and other businesses. We believe in creating jobs for the residents of the area. Beyond the commercial aspect, we have a resort that attracts over 35,000 visitors annually, surpassing even Island.
Inside the estate, there’s a dedicated space for professional golfers as well as an area for amateurs to enjoy the sport. We also offer a restaurant and a lounge for relaxation.
As for the title of this estate, it has a Certificate of Occupancy (CofO), ensuring that it is fully titled and legitimate.
Furthermore, the projects we bring to market are always unique and distinct from those of regular real estate companies. Our aim is to create value for our investors. We focus on identifying locations with the highest potential for return on investment (ROI) within the shortest time frame. Our commitment is to go beyond merely selling properties.
One of the unique aspects of our work is our dedication to building Africa. Each year, we host the Intra-African Realtors Conference, which connects the Nigerian market with other African countries. We also facilitate value-sharing sessions for our realtors, staff, and clients to foster knowledge and growth within the real estate sector.
What made you choose real estate?
As a person, I’m a mariner; I’m a sailor. However, I left sailing to enter the real estate field. Initially, I got into real estate out of frustration, wanting to do something different. After finishing school and not securing a job—or not getting the kind of job I wanted—I decided to make a change.
I remember starting as an agent in Isolo, Lagos State. At that time, I noticed that the agent I was working with was not earning what he deserved for his effort. So, I thought to myself, “What can I do differently?” My quest to stand out as an agent and do better—while being genuine— ultimately led me to where I am today.
I didn’t wake up one morning and say I wanted to be a real estate developer. I was fresh out of school and needed a better-paying job. Since I hadn’t found that, I decided to work as an agent with someone else. I realized that he wasn’t conducting business properly, and I believed I could do better.
What year was that?
That was in 2015-2016.
How old is your company now?
My company is officially about three years old, but I’ve been working as a realtor since 2015.
What has given me fulfillment is the fact that my company, The Company Foundation, has sponsored about 20 students who had dropped out of school. It fulfills me to know that people from various parts of Nigeria pray for my success. Recently, a group of Nigerians in the diaspora came to visit and pray for me.
Many of them had lost money to fraudulent real estate companies multiple times. However, for the first time in their history, when they met me, I delivered their home to them in just nine months. They are now moving into their houses. One particular woman even gave me a gift and prayed for me. That is what has brought me true fulfillment.
In five years, where do you see your company?
In five years, we envision ourselves achieving a significant goal: within ten years, we aim to be operating in 60% of African countries. Additionally, with perseverance and determination, we hope to have commissioned at least three of our social housing projects in Nigeria. We also aspire to have made a positive impact on Nigerian youth, working daily to create more entrepreneurs rather than just employees.
What advice can you give to the government regarding real estate, particularly the Lagos-Calabar coastal road project?
I believe that there is always room for improvement, not just for the government but for everyone involved. We need better planning, a more detailed database, and effective processes. It’s essential to demonstrate empathy both within and outside of government institutions. The issues surrounding the coastal road stem from poor planning and inadequate protection. I think both the government and the people must work together to enhance planning efforts.
If there had been adequate planning and adherence to established alignment—one that has been in place for 20 years—then properties would not have been built on that alignment. If the government had to move the alignment to a less developed area, it would not be necessary if compliance had been maintained. It should be clear that Section A should remain designated as the coastal road. Meanwhile, individuals should avoid illegal construction in that area because, if the government takes action to demolish those buildings, the same people will accuse the government of lacking empathy.
Can you tell us a bit about your background and education?
My name is Akerele Ajewole Oluwatobi, and I am from Ondo State, which I proudly consider the best state in Nigeria. I moved to Lagos in 2013 after dropping out of school because I couldn’t afford my tuition fees. I began working in Isolo at a pure water factory as a motor boy. I hustled to pay my first school fees and eventually returned to school. After graduating in 2015, I began job hunting, which was challenging in Nigeria. As a mariner, I also worked on the water, but I realized I needed a better opportunity.
I then started working as an agent with my in-law, but I noticed he wasn’t conducting the business properly. I decided to approach it differently. By rebranding myself and working innovatively, I was able to gain recognition and credibility, which led to the project that has brought me to where I am today.
When was your big breakthrough?
My significant breakthrough occurred in 2022.
How did it happen? Can you share the details with us?
I initiated a project worth billions without investing a single naira of my own money. It’s remarkable to undertake a project of that scale without initial capital. I had neither a wealthy uncle nor influential connections; it was purely a result of hard work, faith in God, and dedication.
