Nze Anosike, Lead Partner at Cribz Apartment and Cribz Construction Nigeria Limited, has reflected on his ten years in the real estate industry, citing the challenges of real estate in Nigeria and calling for strong institutions to regulate the sector. Anosike’s company is primarily engaged in real estate and construction, providing essential housing services to the market.
In an interview, Anosike discussed the development of Nigeria’s real estate sector over the past decade, describing it as a period of intense ups and downs. He attributed his decision to venture into the industry to his frustration with the inefficiencies and lack of quality service delivery in the housing sector. Anosike expressed optimism about the future, stating that his company is committed to ensuring that the next ten years will be marked by greater efficiency and more substantial contributions to Nigeria’s housing supply.
Cribz Apartment has encountered significant challenges, including access to stable, long-term financing, managing high-quality personnel, and navigating regulatory bodies. Anosike advised prospective property buyers or investors to perform due diligence on a company’s history and presence before committing funds. He also suggested that the government establish an institution to accredit and vet real estate firms, providing a channel for reporting exploitation and reducing fraudulent activities.
Nigeria’s housing shortfall remains a pressing issue, with Cribz Apartment adopting measures to help close the gap. Anosike emphasized the need for the government to support private developers and introduce policy measures to reduce building costs. He proposed that the government partner with developers on mass projects, granting access to ready-to-develop land, and reconsider regulations on importing cheaper cement and steel.
Cribz Apartment primarily aims to serve low- and middle-income groups, addressing the critical national gap in housing. Anosike stressed the importance of land accessibility, stating that mortgage programs can only be effective if there are affordable houses available to buy. He highlighted the difficulties of obtaining capital for real estate development in Nigeria, with conventional banks being unhelpful. Instead, Cribz Apartment relies on private investment, with a funding model that involves direct investment from individuals.
In the short term, Cribz Apartment plans to launch five new projects in Quarter 1 of 2026, focusing on mass housing and building truly affordable homes. The company is seeking partnerships with the government and international organizations to provide land, allowing them to focus their capital and expertise on construction. Long-term diversification plans include moving into mortgage banking, creating a full ecosystem that makes homeownership a reality for the average Nigerian.