‘Putting what you can afford to invest in real estate is now the safest option’

There are people who see recession while others see an opportunity. Most average investors tend to panic during an economic downturn, forgetting that all markets have cycles. In times of uncertainty, the two most important qualities an investor needs are the ability to stay focused and confident.

One of the easiest ways to gain confidence is to have accurate information, which emerging investors can develop by watching how tried and tested investors approach different market cycles. It was Warren Buffet who said “Look at market fluctuations as your friend rather than your enemy. Profit from folly rather than participate in it. At Fine and Country, most of our clients are astute investors and know this is one of the best times to seek out opportunities.

Astute investors understand that market conditions are irrelevant if your investment strategy is right. Risk typically comes from not knowing what you are doing We continue to see Naira Devaluation, along with a growing sense of insecurity, and with this a sense of unease and panic for the average investor.

Many now recognize, at least, that holding Naira in the bank is no longer a viable option as the twin factors of inflation and devaluation erode their wealth. Putting what you can afford to invest in real estate is now the safest, most secure and most sensible option for many, apart from diversification to other currencies which is unlikely to beat the value of real estate in the long run. In any case, international and diaspora investors have a unique opportunity because it’s never been easier to acquire generally under-valued assets.

I have to confess that I’m not an economist, but as a business owner, or even private individual, if I’m unable to meet my obligations or take advantage or opportunities to grow further, it would not be unreasonable to do an assessment of my assets, and look to raise funds by disposal of non-essential, or non-performing assets. Truth is most of us own far too many liabilities fronting as assets. But I wouldn’t be looking to trade any asset that is performing well or that has room to deliver better value if well managed. I’m pretty certain, that the experts will apply these basic common sense approach to the asset sale proposition.

It starts with what you believe. I don’t believe the market is sleeping. I believe there are pockets of opportunities in the market and our role at Fine and Country is to ensure we are part of those opportunities. If they don’t exist, we will create them as we did with Oakwood Place, located on Cooper Road Ikoyi. We worked with the developers to create a market sensitive residential project which has been received very positively.

We also believe that more investors/developers need to become more sensitive to the market and respond intelligently to it by ensuring they have accurate and current insight. That’s why we are keen to host this year’s upcoming Refined Investor Series in November, an opportunity for investors and developers alike to benefit from shared experiences and expectations and expert insight.

The International Property Awards is a world-renowned mark of excellence that celebrates the highest levels of achievement for over 25 years  in the real estate industry worldwide, while the  Africa and Arabia Property Awards are the largest, most prestigious, and widely recognised programme throughout the region and was judged by an independent panel of 70 industry experts. Chaired by Lord Caithness, Lord Best, Lord Liverpool, and Lord Thurso, members of the House of Lords in the UK Parliament, the judging process focuses on design, quality, service, innovation, originality, and commitment to sustainability.

The objective of these awards is to recognise excellence in the property industry worldwide and to promote an international standard. Being a Grade A property with features that could compete in any cosmopolitan location worldwide, Nestoil Tower which is outstanding in its location, uniquely designed, constructed by Julius Berger, LEED certified (silver category) and is energy efficient clearly stood out for the win for Best Commercial High Rise Development in the region. Fine and Country also won an award in the Property Consultancy category at a ceremony held in Dubai Marriott Marquis Hotel, the world’s tallest hotel at the 2016 International Property Awards (Africa & Arabia).

 It’s interesting because, just this morning, we had a meeting with a prospective client looking to do business across Nigeria, Ghana and West Africa as a result of seeing us win that award in Dubai. So, for Fine and Country, the award really consolidates our already solid footing as leaders in the prime real estate space in Nigeria and across Africa. More importantly, for our client, Nestoil, the award really acts as a pointer to multinational clients that this is a property that meets exacting international standards and that can compete with the facilities they occupy in any part of the world.

The award was judged by a very esteemed panel of judges, and so corroborates what Fine and Country always believed about the quality of Nestoil. We expect that the prospective tenants will also benefit from the prestige of working from an internationally recognised office building. On a more general note, for Nigeria, the awards to Fine and Country West Africa and our client’s project, the Nestoil Tower, contribute to the Rising Africa narrative, at least, in terms of the standards to be expected out of Africa. It puts Nigerian real estate on a map where it didn’t exist previously and the world recognises that good quality real estate is being developed here.

Nestoil is in a class of its own even in Nigeria. We were so confident about its iconic and international status, and therefore decided to put it to test to an international audience through the international property awards. We are very proud that the highly regarded panel of judges agreed with us considering the many top quality properties within the jurisdiction that were entered for the award but which didn’t make the mark. For us, it’s important to be working with projects that raise the bar and contribute to building the future of Nigeria’s skylines.

Fine and Country is a multi award winning real estate marketing and advisory firm with many remarkable results to its credit wherever we operate, whether in Lisbon, Lagos or London, Cape Town or Dubai. We take an innovative and intelligent approach to addressing real estate needs for high net-worth and corporate clients. There’s definitely more to us as evidenced by our results wherever we operate but especially in this market.

You are absolutely right. Getting up the ladder is tough but staying there requires even more effort. We are mindful of the challenges in the present market, but also remember that Fine and Country West Africa was birthed in the midst of a tough market in 2008, during the financial markets meltdown and global economic distress. We came into Nigeria with a culture of confidence, a commitment to excellence and demonstrable expertise in our core areas of marketing and branding of prime residential and commercial real estate.

We believe that tough markets require an even higher sense of commitment to those ideals, but in addition a willingness to be adaptable to market changes, and a readiness to innovate quicker while offering clients unsurpassed service. These are values that are appreciated in all markets and we are determined to be consistent with them. We like to say that consistency is the food of champions. It is easy to start but we intend to stay the course irrespective of economic tidings.