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TOMIWA FAYOSE, MD FURTAIL Properties Ltd
Tomiwa Fayose is a big real estate player. He is the co-founder of Peak Global Network. He is also the Managing Director of Furtail Properties Ltd. He is a prolific investor and serial entrepreneur with interests in about 6 different high-profile businesses in Nigeria and Diaspora. His extensive experience in business and human talent management has established him as a savvy professional, with a high level of integrity.
Currently, he has properties across many states in Nigeria. He is one of the youngest real estate developers in Nigeria presently.
A few weeks ago, Mr Tomiwa spoke to City People’s ISAAC ABIMBADE about his real estate firm, Furtail Properties. And what they are doing to ensure that many Nigerians become home owners. Below are excerpts of the interview.
You are the MD of a wave-making real estate firm, how does this make you feel?
It’s exciting, but it has its own challenges. You have to deal with the prospect and the challenges that come with it from every level you attain in the real estate industry. And for every level or stage, you must find a way to deal with the challenges that come with it. You know it’s a multi dimensional sector. You have the private sector. You have your clients and you have the government. So it’s a lot of sectors to deal with but it’s very exciting, as well.
What led you into real estate?
Well, my passion is for making sure we have Affordable housing, making sure that the young man who is about to leave the University has the opportunity to have an affordable from where he can start to build is good future for himself. He should be saying in another 10-15 years of work I should be able to own one or two properties.
So it’s important to be able to build an environment where younger people can thrive. So our major goal at Furtail Properties is to build affordable housing for Nigerians.
Is that where you majorly focus, I mean affordability?
Yes, I deal majorly in short term house plan and I do inland.
Tell us some of the achievements of the company in the last few years?.
We have been able to make affordable land and housing affordable across the South-West states. We have properties in Ekiti, Oyo, Ogun, Lagos. Where we have been able to acquire over 500 acres per state. And we are selling these properties at a cheap rate. This is for the people who don’t have much to be able to afford what we offer them. We have been able to garner over 3,500 clientele that are buying these properties at very good rate. Though there is a level of development time to this properties but the guarantee is that, you already have a starting point.
For the benefit of our readers, can you tell us where some of these products (housing estates) are located?
We have Bedford estate at Ilawe Ekiti. We have in Eden Court in Edo State. We have Maxspring in Ogun State. We have Silverstone in Lagos. We also have Firtail height. It’s a highrise we are building. We also have an apartment we are about to start next year.
If not for real estate, what would you have done?
Maybe I would have been called to the chamber. I would have been a lawyer.
Are you one?
No, but it’s an area of specialization that I have taken an interest in
How old is Furtail Properties?
Furtain Properties will be four this year.
I’m the MD and Chief Executive Officer of the company.
How do you see the company in four/five years?
In another 5 years we should be able to start full development in all our estates across the states. We have acquired properties. We are getting final documentation and getting the layout, so roll out we commence in terms of development across the states. That is the goal.
What is the challenges you have faced with in the real estate sector?
Like I told you it’s a multi dimensional sector. You have your clients, government and local indigenes. They all have their peculiar issues we have to resolve but I don’t want to go into the details now.
There are several issues in the real estate sector that will need the government to resolve. From getting document. I mean the government should ensure our documentation come out in time. and for development, I implore them to release our building approval on time.
What will be your advice to the Lagos State government about the happening in the sector?
The Lagos State Government should be transparent in its conduct. Once their transparency is there it’s easy to navigate the real estate sector.
What is your advice or take on the issue of tribal sentiment that is affecting real estate market in Lagos?
I have not necessarily experienced it but I don’t say it’s the right thing if it’s true. I am a Yoruba man and I have property in Edo State and I am a Yoruba man so I do not see it as a good development it is real.
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