The Nigerian real estate industry is facing numerous challenges, including a lack of integrity, transparency, and innovation. Kendrick Akhimie, CEO of RareAcre Investment Limited, recently discussed these issues and potential solutions. Akhimie, who has over seven years of experience in construction, property sales, and project management, noted that his company aims to transform the real estate market through innovation, value creation, and value maximization.
RareAcre Investment Limited is a visionary real estate development and investment company that focuses on innovation, transparency, and quality delivery. The company’s mission is to create real estate solutions that inspire trust and generate long-term value for homeowners and investors. Akhimie established RareAcre to address the challenges facing the Nigerian real estate industry, including a lack of integrity, transparency, and innovation.
The company’s core services include designing and developing premium residential and commercial projects, delivering high-quality construction projects, and offering expert investment and property advisory services. RareAcre maintains a competitive edge in Nigeria’s rapidly evolving real estate market by designing and delivering projects that meet international standards, incorporating technology, and adapting global trends to the Nigerian market.
Akhimie noted that the real estate sector in Nigeria is under-regulated, which can lead to building collapses, demolition cases, and land disputes. He also highlighted the challenges posed by bureaucratic red tape in property registration and title documentation, which can hinder real estate development. To address these issues, RareAcre prioritizes transparency, superior engineering, and innovative concepts in its projects.
The company is also working to address the country’s housing deficit by providing durable, properly documented, and fairly priced housing solutions. Akhimie emphasized the need for sound policies, addressing high inflation, and stabilizing the economy to make homeownership more accessible to average Nigerians. He also suggested that mortgage schemes could be made easier to access by simplifying processes, reducing interest rates, and strengthening government-backed interventions.
RareAcre is committed to leaving a legacy of trust, innovation, and quality in the Nigerian real estate industry. The company’s projects, such as Resida Apartments, reflect its commitment to premium living, with modern amenities, solar energy systems, and exceptional attention to quality and detail. As the world’s population is projected to become increasingly urbanized, with 70% living in urban areas by 2050, RareAcre is working to contribute to Nigeria’s readiness for this shift by investing in mixed-use communities, transit-friendly designs, and sustainable infrastructure.
The Nigerian real estate sector faces numerous challenges, including uncontrolled rent hikes, rising construction costs, and fraudulent schemes. Akhimie noted that these issues can have a lasting impact on the industry, widening socioeconomic gaps and making homeownership unattainable for many. RareAcre is working to address these challenges by prioritizing transparency, verified documentation, and ethical practices across its projects. Over the next 5-10 years, the company aims to deliver landmark projects that set new standards for innovation, integrity, and customer experience in the Nigerian real estate industry.