At 74, Jim Ovia is hardly able to retreat into the quiet comforts of retirement. Rather, the astute entrepreneur seems poised to commerce the acquainted corridors of banking for the high-stakes world of premium property growth, the place towering ambitions meet deep-pocketed traders.
For Ovia, the stakes are clear. After a long time of shaping fortunes in banking, he is able to construct one other legacy, this time in concrete, glass and metal. Having bowed out as chairman of Zenith Bank Plc, the billionaire businessman is deepening his investments by Quantum Luxury Properties Ltd., with two upscale residential tasks redefining his property ambitions in Lagos.
The first, Metropolitan Towers, is a 26-floor growth providing residences beginning at $1.85 million. Its sister undertaking, Quantum Luxury Towers, includes 44 residential models, with costs starting at $2.8 million.
Recently, he disclosed that the developments have been attracting appreciable curiosity, with each tasks already recording important gross sales.
He declared that actual property is extra worthwhile than banking, providing a glimpse into the funding philosophy driving his newest enterprise.
Lagos, with its focus of prosperous people, company executives and worldwide traders, stays a first-rate vacation spot for luxurious property growth. Despite inflationary pressures and the naira’s depreciation, demand for high-end residential lodging continues to draw traders searching for premium addresses and long-term capital appreciation.
Yet, the market presents a hanging distinction. While Nigeria grapples with a housing deficit estimated at greater than 20 million models, luxurious developments proceed to command extraordinary costs, catering to a slender however financially highly effective clientele.
