Damilola Olanrewaju is the chief executive officer of Opalite Nigeria, a fast-growing real estate development and brokerage firm. He also coordinates a network of independent property brokers through an organisation called Marketing360Agency. He spoke recently on real estate investment and development in Nigeria.
How do you assess government’s efforts as far as the property and real estate business is concerned in Nigeria?
One of the ways government affirms its hold on the real estate industry is through the policies they put in place to guide the industry. One major thing the government needs to do is to create more favorable policies that make it easier and safer for Nigerians at home or in the diaspora to invest in lands and properties within the country. Creating a better credit system would also help people track their wealth or debt levels and help them make better and more informed investment decisions.
How are you coping with the challenges facing real estate business in Nigeria?
We understand that every industry has its issues and shortfalls, and the real estate industry is no different. We as a business try to edge ahead by studying industry trends that could become problematic and creating solutions ahead. That way, you won’t be caught off guard when issues arrive. There are still some things you can’t prepare for, for example, the COVID-19 pandemic; but, if you position your business as a solution provider, you can ride out any storm. So, what we have done is create several verticals within the real estate space that help us provide value to our clients. We have also created various products and services that help simplify different aspects of real estate that people interact with regularly.
What is Opalite?
Opalite Nigeria Limited is a real estate investment and development company that uses innovation and technology to help Nigerians simplify the rigors that naturally comes with investing in real estate.
Opalite is new in the real estate business, so what is the company doing to cope with the competition in a saturated sector?
The answer to that is simple: value, integrity, and trust. Almost every industry is saturated, but what sets you apart is how you do your business. People say that “a satisfied customer tells two people, and a dissatisfied one tells two thousand.”
So, we keep our operations seamless and transparent. From the moment we start dealing with a client, we provide all the information they need to make the best investment decision without withholding any detail. We also pride ourselves as an innovative and evolving business that constantly creates valuable services for our clients through our existing or new products.
What other services and products does your company have?
As I previously mentioned, our company focuses on constantly innovating and improving the real estate investment process. We provide various services and products, from short lets to property management and brokerage. We also offer backend investment opportunities for people who want to invest in developmental projects and earn substantial ROIs. We have a new flagship product called The Opalite Landbank, which would make up the core of our innovations for 2022. We also have other projects and developments in the works, and we will provide more information as we progress.
Can you tell us more about The Opalite Landbank?
The Opalite Landbank is an innovative take on affordable Real Estate Investment, and I mean very affordable. Many people want to invest in landed properties but are unable to due to financial shortfalls, but imagine you could become a landowner without having to break your back or bank. Our Landbank offers people the opportunity to buy land from us while paying small amounts over an extended period. We offer the most flexible land payment plan in Nigeria, we don’t take collateral, and there’s a 100% buyback guarantee if you want to resell your land after your purchase is complete.
Who would you say are the ideal target for the Landbank and how do people subscribe to it?
Everyone. Whether you are a student, employee, parent, grandparent, organisation, whatever category you fall under, you can subscribe to the landbank. The idea behind Landbank is to create a land purchase structure that everyone should be a part of, irrespective of age, gender, or financial disposition, and that is what we did. Landbank is straightforward and organized in a way that makes it easier for you to purchase your land and track your payment progress right from your mobile devices. We’d also be launching our landbank software to help people track their investments and savings at any time.
What are you doing to gain the confidence of prospective and potential customers?
At Opalite, we have the “Out-Everything” mentality, which means we out-perform, out-execute, out-satisfy clients in a way our competitors cannot. We always put the clients first, and that is why our products and services come with ease and simplicity. We make sure that we remain transparent and open to our clients and prospects. We create flexible plans to fit our customers’ needs and provisions. We also value customer communication and feedback. We listen and evolve to serve our customers better.