Haldane McCall CEO urges cheaper financing and simpler land rules to unlock real estate growth

Nigeria needs lower-cost financing, better infrastructure, and simpler land and tax policies to unlock investment in its real estate and hospitality sectors, according to the Group Managing Director and Chief Executive Officer of Haldane McCall Plc, Dr Edward Akinlade.

Akinlade said high construction and operating costs, elevated interest rates, infrastructure deficits, and land administration bottlenecks are limiting developers' ability to expand housing supply and attract private capital.

"The challenges are significant and interconnected," Akinlade said, calling for improved access to long-term financing, faster land-title registration, and greater policy stability, particularly in taxation and planning regulations. He urged the government to expand roads, electricity and water infrastructure, and to strengthen public-private partnerships so developers can build at scale.

The hospitality industry faces similar pressures, with high energy costs, expensive financing, weaker consumer spending, and infrastructure constraints affecting profitability. Akinlade called for targeted incentives, improved tourism infrastructure, better transportation and security, and reduced regulatory and tax burdens.

Akinlade said Haldane McCall has commenced plans for Phases 2 and 3 of its Mile 12 project in Lagos, comprising 64 two-bedroom apartments, following completion and sale of the earlier phase. The company has also completed a joint venture agreement to develop 32 three-bedroom apartments at Olateju Street, Olorunsogo, Lagos, and paid its 2025 dividend.

"Our objective is to create a healthy balance between immediate value distribution and reinvestment in projects that can generate future revenue and profitability," he added, saying the company will focus on scaling its project pipeline, pursuing strategic partnerships, and maintaining disciplined capital allocation.