Adelani Adewuyi is the managing director of CW Real Estate Group of Companies, which specializes in helping its clients find homes, invest, and build in Nigeria and the United Arab Emirates. The company’s projects include Etisalat, Erickson, Mikano, and 750 in Capital, in which Delani served as the Real Estate Surveyor and Valuer.
In a conversation with Delani, CW Real Estate’s managing director.
Q. How is business?
A. Business is good, but the market is skyrocketing every day in this present administration. But looking forward to seeing the balance within the ecosystem.
Q. Is CWR focused on housing agents?
A. No we are not, but our team has about 30% housing agents and 70% shared among other fields in real estate including Sales & Leasing.
Q. What else do you have going on?
A. Aside from the idea of revolutionizing real estate practices in Nigeria. We are focused on giving our clients luxury in Nigeria. I actually just completed a few building projects that are available for renters and sells in Lagos. Still have some construction going on in Abuja, and we are in the second phase to finish two rental buildings with over 50 units, while the one in Lagos got over 100 units. Within the second quarter of 2023, CW Real Estate is going to come to market with the Abuja buildings.
Q. Does CWR hold onto buildings for long?
A. We don’t operate in such a manner unless the clients require our long-term service. Rather we intend to build rental buildings and then sell them. We’re looking for returns that are roughly two times multiple of the capital that we invest and the only way to achieve those returns is in Lagos, which market is bigger in return than most states.
Q. Anything else in the pipeline, you can share with us?
A. We’re constantly looking, with the help of our Agents on the field. We have some land holdings in Lagos and Abuja we just valued and surveyed about a month ago. CW would be looking into developing in the next five years or so. Which could be a mix of retails, and condominiums, just like the pioneering structure in Victoria Island, 1004 Estate.
Q. It was nice having you, one last thing. What do you do for fun?
A. Am basically a workaholic and a researcher, meaning fun for me means work.
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