2028, Lagos, the new Dubai. At least, that’s how they sold it. In a scrubby pocket of land just beyond Toru-Elegede, where the bush still whispers and generators still sleep, Mr. Timi stood on a 10-plot expanse of land he bought for peanuts five years ago. ₦2 million a plot back then, now whispered to be worth ₦15 million or more. No roads. No electric wires. No humans. But value? Oh, the value...
Standard No. 1: Buyer circumstances may shape financing terms, but they do not mitigate the developer's risk exposure. In this edition of The Boldmen Standards, we return to the first principles. The business of real estate financing is not voided by empathy. Whether delivered by a bank, a seller, or a developer, capital extended without interest is still capital at risk. We uncover a tacit but...
Standard No. 2: Flexibility should never come at the expense of the developer's returns. Introduction In the 2nd edition of The Boldmen Standards, we examined the latent financial cost of staggered down payments and rent-to-own structures. We argued that while such arrangements increase buyer access, they simultaneously expose developers to hidden yield erosion. We went further to demonstrate...
2028, Lagos, the new Dubai. At least, that’s how they sold it. In a scrubby pocket of land just beyond Toru-Elegede, where the bush still whispers and generators still sleep, Mr. Timi stood on a 10-plot expanse of land he bought for peanuts five years ago. ₦2 million a plot back then, now whispered to be worth ₦15 million or more. No roads. No electric wires. No humans. But value? Oh, the value...
Nigeria is a country with a population of over 200 million people, and a huge demand for housing and infrastructure. However, the Nigerian economy has been facing economic challenges such as inflation, recession, and currency devaluation, which have affected the real estate sector negatively. According to the National Bureau of Statistics, the real estate sector contracted by 9.22% in the third quarter of...
2028, Lagos, the new Dubai. At least, that’s how they sold it. In a scrubby pocket of land just beyond Toru-Elegede, where the bush still whispers and generators still sleep, Mr. Timi stood on a 10-plot expanse of land he bought for peanuts five years ago. ₦2 million a plot back then, now whispered to be worth ₦15 million or more. No roads. No electric wires. No humans. But value? Oh, the value...
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