Nigeria has tapped only 5% of its real estate potential, says Mayor of Housing
Written on
Real estate entrepreneur My-ACE China, known as the Mayor of Housing, says Nigeria has exploited only about 5% of its real estate assets and forecasts foreign inflows surging from $96bn to $960bn.
My-ACE China, chairman of the Mayor of Housing Group and one of Nigeria's leading real estate entrepreneurs, says Nigeria has a very bright future and has only exploited about 5% of its real estate assets.
The Port Harcourt-based real estate success strategist was reacting to a global report on real estate which declared Nigeria Africa's largest real estate hub with a market value of about $2.6 trillion out of a global $650.4 trillion at the end of 2025. Africa was said to be valued at $17.6 trillion, or 2.7% of the global size.
The global report, which was also published in BusinessDay on August 21, 2026, said Nigeria's property sector would expand at 6.9% per annum, and that Nigeria was ahead with 5.1%, Rwanda 3.4%, and South Africa 3%. In monetary sizes, Egypt is valued at $1.6 trillion, Ethiopia $1.3 trillion, South Africa $1.2 trillion, Kenya $773 billion, and Ghana $533.3 billion.
China, who is behind the upcoming Alesa Highlands Sustainable Green Smart City in Port Harcourt, maintained that the report was a big wake-up call for Nigeria to push harder to move beyond the 5% exploitation rate so far. He said he sees a future where, out of the 95% potential remaining untapped, a 65% potential surge will happen almost overnight, driven by global market saturation, growing trust in Nigerian practitioners, and institutionalisation of the sector.
He noted that with the $96 billion inflow that came into Nigeria in 2024, there is going to be a surge that is 10 times bigger in a year within the next five years, bringing inflows to about $960 billion. He also pointed to diaspora remittances of about $20 to $22 billion annually, arguing that proper regulation and institutionalisation would draw more funds from the diaspora and global investors.
Once Nigeria settles down, insecurity is addressed, and trust and institutions are built, he said there will be a 10 times surge in real estate that will continue over the next 60 years.