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How diaspora investments are reshaping real estate market
How diaspora investments are reshaping real estate market
Nigerians in diaspora have emerged as a powerful force in the country’s real estate sector, injecting billions of naira yearly into property investments. Their contributions bring higher standards and global perspectives to local real estate practices
A growing number of Nigerians in the diaspora are investing in property back home, driven by emotional ties, rising incomes abroad, and economic uncertainty in host countries.
This trend is reshaping real estate in Nigeria, fueling a construction boom, price surges in certain urban areas, and triggering fraud and legal disputes.
The Central Bank of Nigeria (CBN) reported a significant increase in remittance inflows, reaching $553 million in July 2024, a 130 per cent increase from the corresponding period in 2023. In 2024, diaspora remittances to Nigeria reached $20.93 billion, a significant increase of 8.9 per cent year-on-year
Many remittances were channelled into real estate, as the diaspora seeks to establish a tangible presence back home, whether for retirement, family support, or as a hedge against economic uncertainties abroad.
perties, as well as Ibadan, Enugu, Benin City, Owerri, Uyo, Ilorin and Asaba – emerging cities offering affordability and lower entry thresholds, as well as appreciable returns.
Experts estimate that 70 per cent of investments in Nigeria’s real estate sector originate from the diaspora, highlighting their significant influence on the market. Over the past five years, Nigerians in the diaspora have remitted approximately $99 billion, underscoring their vital role in the nation’s economic development.
The Guardian investigation revealed that many diaspora Nigerians fall victim to scams involving fake land titles, double sales, or properties that don’t exist. Scammers often pose as agents, family members, or even developers. A UK-based Nigerian who sent funds to build a house in Enugu, only to discover that the land didn’t exist or had been resold to another buyer.
Lack of transparency in documentation processes complicates the worries of these Nigerians. Title registration and verification processes are often bureaucratic, slow, and riddled with inconsistencies across states. Buyers abroad can’t verify property ownership or development status in real-time.
Other challenges are that these investors rely on family members or acquaintances who may mismanage funds or give false updates, miscommunication, unfinished buildings, or outright theft, as well as insecurity in parts of Nigeria, especially rural or developing areas, which makes certain regions unattractive. As such, investors stick to “safe zones,” driving up prices in cities like Lagos and Abuja.
Amid the uncertainty and frustration, a new wave of platforms, legal reforms, and tech-driven real estate firms is working to rebuild trust with Nigeria’s diaspora. These solutions aim to offer transparency, accountability, and convenience—critical tools for anyone investing from thousands of miles away.
For instance, platforms are curating listings with verified titles and developer credentials. Some even offer video walk-throughs, digital documentation, and escrow services that hold funds until certain project milestones are met.
Startups are using blockchain technology to digitise and secure land title records, starting with pilot projects in states like Lagos and Oyo. This innovation makes it easier for diaspora investors to confirm land ownership remotely and reduces the risk of fraud.
Firms now offer diaspora-exclusive packages such as flexible payment plans, construction progress monitoring via apps or video updates and delivery guarantees and legal representation for non-resident buyers. Some developers even conduct property road shows in the UK, US, and Canada, allowing Nigerians abroad to meet company reps and sign contracts in person.
Now, the Federal Government, tech platforms and verified developers are stepping in to restore confidence. To cater for the diverse needs of Nigerians and expand access to affordable housing, the Federal Mortgage Bank of Nigeria and Nigerians in Diaspora Commission (NiDCOM) designed the Diaspora Mortgage Loan. The initiative is expected to open opportunities for Nigerians living abroad to invest in real estate back home in Nigeria.
There are ongoing engagements between the bank, NiDCOM and the Central Bank of Nigeria (CBN) aimed at ensuring seamless transaction processes. International Money Transfer Operators (IMTOs) are also being engaged to facilitate smooth transactions, with plans for a full rollout of the product this year.
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Experts urged the Federal Government to work to attract more foreign investment, while safeguarding the interests of its diaspora should be a national priority, not just for real estate, but for long-term economic development.
They called for a stronger legal protection, streamlined land registration, and widespread digital verification, as well as smart platforms and transparent developers to end heartbreak in real estate investments.
The Chairman, Lagos branch of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Mr Gbenga Ismail, admitted that Foreign Direct Investments (FDI), especially from Nigerians in the diaspora, contribute significantly to inflows in real estate.
According to him, the development has increased housing development, especially in urban and semi-urban areas, with a focus on mid- to high-end properties, enabling the rise of real estate tech platforms: Platforms offering virtual tours, online purchases, and escrow services cater to diaspora investors.
It has also improved building standards: Diaspora demands for quality and transparency have influenced developers to adopt better construction practices, boost GDP and employment: construction and related industries benefit from increased demand.
He disclosed that that the investors are motivated by the desire to own property back home, investment opportunities – high returns compared to markets abroad, retirement planning – building or buying homes to return to, family support – providing shelter for relatives or generating rental income and weakened naira – encourages conversion of foreign earnings into real assets.
To curb the risk associated with such investments, Ismail advocated the use of escrow services and verified developers, ensuring funds are only released when project milestones are met, and title verification – Partnering with professionals to verify property documents before purchase.
Other suggestions he made include investment through structured real estate funds or diaspora investment platforms, providing oversight and legal protection, government regulation and incentives, encouraging diaspora-friendly policies and easing land titling processes and the use of digital platforms, promoting transparency through tech tools that allow real-time project tracking and remote property management.
The Chairman, NIESV, Anambra State Branch, Raji Adewale, said the influx of FDI has profoundly redefined the contours of the nation’s real estate ecosystem. “These capital inflows have not only augmented liquidity within the sector but have also ushered in global best practices, modern architectural standards, and an enhanced appetite for structured developments.
“The sector has witnessed a proliferation of high-end residential estates, premium office complexes, and mixed-use developments, particularly in urban epicentres. This renaissance has spurred infrastructural expansion, elevated professional service standards, and bolstered investor confidence, thereby repositioning the real estate market as a cornerstone of national economic growth,” he said.
Adewale noted that motives underpinning diaspora investments are both sentimental and strategic, such as hedging against inflation and currency volatility, the desire to bequeath tangible wealth to descendants, and superior return on investment compared to stagnating overseas markets. He added that enhanced institutional frameworks like improvements in land administration, digital registries, and diaspora-targeted policies have instilled greater confidence.
He called on the government to sanitise the terrain and engender sustainable diaspora participation through digitisation of land records, establishing regulated Real Estate Investment Trusts (REITs), and enforcement of professional ethics to eliminate quackery, as well as accelerated judicial processes to expedite dispute resolution.
“The ascendancy of diaspora investments in Nigeria’s real estate sector is not merely a financial trend—it is a transformative force. With the right safeguards, institutional reforms, and strategic foresight, this capital can serve as a linchpin for sustainable urban development, national economic rejuvenation, and generational wealth creation,” Adewale added.
Former president of the African Chapter of the International Real Estate Federation (FIABCI), Mr Chudi Ubosi, said there has always been interest by corporate investors like the Rendevour in Alaro City in the FTZE in Lagos, but the greatest interest has been from citizens in the diaspora. “The greatest interest in the Nigerian real estate sector is internal. Private investors are reshaping the sector from Lagos to Abuja and nationwide.”
Ubosi explained that the challenges of those investments for companies are usually the inability to repatriate profits, security of investment and a couple of other environmental issues like poor electricity supply. “The risks of investment in Nigeria can be ameliorated purely by good governance and the provision of an enabling environment for businesses to thrive,” he said.
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Federal High Court Rules in Favour of Adron Homes Over Estate Management Rights
In a legal victory for Adron Homes, the Federal High Court sitting in Abeokuta, Ogun State, has dismissed the suit brought by the Registered Trustees of the City of David Residents Association (CODRA) and five others, Elder Gbadebo Aromolaran, Mr. Adetokunbo Adeshile, Mr. Olaolu Ayinde, Olusegun Aba Yomi Esq, Oluwadamilare Awokoya Esq, against Adron Homes and Properties Limited.
The case, Suit No. FHC/AB/FHR/58/2023, was presided over by Hon. Justice Abiodun J. Adeyemi, who, after an exhaustive review of the claims and evidence presented, found the Applicants’ allegations to be unsubstantiated, speculative, and without merit.
The Applicants had alleged that Adron Homes infringed on their right to personal liberty. However, the court held that they failed to present any credible evidence showing that Adron Homes posed any threat or committed any act constituting a breach of their fundamental human rights.
Hon. Justice Adeyemi noted that there was no record or proof of any invitation, arrest, or action traceable to Adron Homes that could justify such a claim. He concluded that the allegations were merely speculative and unsupported by evidence.
On the claim of proscription and infringement of the Applicants’ right to freedom of association, the court ruled emphatically that Adron Homes has no power to proscribe CODRA or prevent residents from associating. However, in a critical clarification, the court affirmed that while residents are free to associate among themselves, the legal right to own, manage, and make administrative decisions concerning the estate remains vested in Adron Homes, as the rightful developer and manager.
Justice Adeyemi stressed that the court’s decision was guided strictly by evidence and the law, not by conjecture or subjective interpretation. Consequently, the Applicants’ case was dismissed in its entirety.
Despite Adron Homes’ victory in the lawsuit, the organisation’s true victory is in ensuring the well-being and satisfaction of all its subscribers and residents, and they will not relent in guaranteeing this.
This landmark judgement not only vindicates Adron Homes but also reaffirms its position as a law-abiding, customer-focused developer dedicated to delivering value and protecting the interests of its clients.
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Federal High Court Dismisses CODRAS’ Suit, Victory for Adron Homes
In a legal victory for Adron Homes, the Federal High Court sitting in Abeokuta, Ogun State, has dismissed the suit brought by the Registered Trustees of the City of David Residents Association (CODRA) and five others, Elder Gbadebo Aromolaran, Mr. Adetokunbo Adeshile, Mr. Olaolu Ayinde, Olusegun Aba Yomi Esq, Oluwadamilare Awokoya Esq, against Adron Homes and Properties Limited.
The case, Suit No. FHC/AB/FHR/58/2023, was presided over by Hon. Justice Abiodun J. Adeyemi, who, after an exhaustive review of the claims and evidence presented, found the Applicants’ allegations to be unsubstantiated, speculative, and without merit.
The Applicants had alleged that Adron Homes infringed on their right to personal liberty. However, the court held that they failed to present any credible evidence showing that Adron Homes posed any threat or committed any act constituting a breach of their fundamental human rights.
Hon. Justice Adeyemi noted that there was no record or proof of any invitation, arrest, or action traceable to Adron Homes that could justify such a claim. He concluded that the allegations were merely speculative and unsupported by evidence.
On the claim of proscription and infringement of the Applicants’ right to freedom of association, the court ruled emphatically that Adron Homes has no power to proscribe CODRA or prevent residents from associating. However, in a critical clarification, the court affirmed that while residents are free to associate among themselves, the legal right to own, manage, and make administrative decisions concerning the estate remains vested in Adron Homes, as the rightful developer and manager.
The court per Justice Adeyemi stressed that the court’s decision was guided strictly by evidence and the law, not by conjecture or subjective interpretation. Consequently, the Applicants’ case was dismissed in its entirety.
Despite Adron Homes’ victory in the lawsuit, the organisation’s true victory is in ensuring the wellbeing and satisfaction of all its subscribers and residents, and they will not relent in guaranteeing this.
This landmark judgement not only vindicates Adron Homes but also reaffirms its position as a law-abiding, customer-focused developer dedicated to delivering value and protecting the interests of its clients.
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NIESV Lagos Chairman Leads Delegation to Adron Homes, Seeks Strategic Collaboration
In a significant move toward fostering synergy between key players in the real estate sector, the Chairman of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), Lagos State Branch, ESV Tosin Kadiri, led a high-powered delegation on a courtesy visit to the Chairman of Adron Group, Sir Aare Adetola Emmanuelking KOF. The visit, which took place at the Adron Homes Head Office, demonstrated the growing need for strategic partnerships to accelerate housing delivery and professional integration within Nigeria’s real estate ecosystem.
Welcoming the NIESV delegation, the Group Chairman, Sir Aare Adetola Emmanuelking, a proud member of the Institute, shared an inspiring insight into the journey that birthed Adron Homes. He recalled his early professional experiences in estate management, which shaped his vision to transition into property development, not merely to build houses, but to create cities, communities, and homes that endure.
“Adron Homes was not born out of convenience, but of a calling,” he stated. “The industry is rife with challenges, but if you are truly called and driven by vision, you will stand out. We’ve seen many fall by the wayside, but with determination, resilience, and strategic thinking, we have continued to build and grow.”
He highlighted Adron’s innovative application of the labelling theory in estate development, thematically branding each estate to reflect cultural or geographic inspiration. This, he noted, along with Adron’s heavy investment in infrastructure, has set the company apart as a responsible, visionary, and futuristic developer.
Speaking on behalf of the visiting team, the Chairman of NIESV Lagos Branch, ESV Kadiri Tosin, lauded Adron Homes as a formidable pillar in the Nigerian real estate landscape. He admired the scale and consistency of Adron’s developments and emphasized the need for a more structured relationship between the Nigerian Institution of Estate Surveyors and Valuers (NIESV), and Adron Homes.
“We are here to seek collaboration. We believe that our members can tap into the vast structures and opportunities that Adron Homes has already created,” he stated. Adding to the discourse, the Chairman of the NIESV Cooperative Society echoed the call for a deeper partnership. He proposed a collaborative housing scheme wherein Adron Homes could allocate a zone within its existing estates for NIESV members to create bespoke properties, aligned with their professional dreams and financial capabilities. According to him, “This collaboration could bring our collective dream into the larger Adron vision.”
In addition, the NIESV Lagos Chairman proposed a strategic partnership where experienced members of the institute, particularly those with expertise in estate and facility management, can be integrated into Adron Homes’ operations to create added value across its estates.
In his response, Aare Adetola Emmanuelking welcomed the proposals with open arms, expressing optimism about the future of a deepened collaboration between both parties.
“We’ve enjoyed a cordial and mutually beneficial relationship with NIESV Lagos Branch in the past,” he said. “This administration brings renewed energy, and we are eager to deepen that relationship in meaningful and strategic ways. We are always open to working with professionals whose values align with our mission and vision.”
Members of the NIESV Lagos Branch delegation took turns to commend the impressive footprint of Adron Homes across the nation. One of the executives remarked, “This visit has been an eye-opener. As practitioners in the industry, we often underestimate the breadth and depth of being a real estate developer. Today, we’ve gained a new perspective, and more importantly, renewed inspiration.”
In attendance at the high-level meeting were several NIESV executives; the Vice-Chairman, ESV Ayodeji Odeleye, the Honorary Secretary, ESV Olaseni Lojede, among others, as well as Adron Group’s management team, including the Managing Director, Adenike Ajobo; the Group Company Secretary, Shola Orunmuyiwa; the Deputy Managing Director, Business Investment, Chitola Roberts; the Chief Press Secretary, Maureen Echefu; and the Personal Assistant to the Chairman, Faruq Salisu, among other company executives.
The meeting ended on a promising note, with both institutions expressing strong commitment to building a collaborative future. The engagement marks a pivotal step toward the professionalization of housing development and delivery, opening doors to mutually rewarding collaborations between developers and estate professionals.
With visionaries like Aare Adetola Emmanuelking at the helm, championing sustainable development and collaboration, the future of Nigeria’s real estate industry continues to look exceptionally bright.
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