Tech-driven consumer-centric strategies in Nigeria’s property market

Tech innovation is ruling the world, and the real estate industry is not exempt. ONYEKORMAKA ASABOR writes on the deployment of tech and other trends in the sector to make live more cosy

Nigeria’s real estate market is fast improving since the last few years. It has been witnessing technological advancement, particularly as some of the housing estates in the country are being equipped with solar-powered electric services, environment-friendly incinerators, as well as Closed-Circuit Television and other modern devices to keep residents safe.

Not only that, the real estate industry is undergoing huge digital transformation, which is influencing the growth of the market. Also, the demand for tech-enabled innovations and new soft skills are driving companies to invest in Property Technology solutions. Such innovations are unarguably easing processing of products, integration of employees into a network for data collection and analysis, process efficiency, corporate improvement and end-user experience.

In fact, to ensure that real estates are no longer built in abeyance, particularly when rendered unattractive for buyers and tenants, property developers now carry out market research to ascertain what clients actually need before commencing work on a housing estate project. In the same vein, some developers engage customers while adopting tech devices they intend to use, to meet the latter’s expectations.

While building, the developer is sure that once the property is completed, investors or tenants will grab it outright. That means quick Return on Investment.

Against this backdrop, it is expedient to say that most of the housing estates that were unveiled in recent years across the country by notable developers are driven by tech. In fact, not few developers are providing housing solutions with tech designs and structures.

For instance, in the bid to meet the emerging needs of consumers in the sector, particularly in the area of adequate electricity, Nedcomoaks Limited, a Lagos State-based real estate development company, recently launched full solar-powered Citadel View Estate in Ibeju-Lekki area of the state. Sited along Abraham Adesanya, Lekki–Epe expressway, Lagos, CVE aims at making living affordable through an array of housing options with exceptional features.

The residential housing development company is providing access to constant and affordable power supply for its prospective residents in the Sangotedo area of Lagos.

On the level of technology integrated into building the estate, the founder of Nedcomoaks, Kennedy Okonkwo, said the company deployed cutting-edge solar energy solutions and biogas sewage treatment system.

According to him, CVE is, perhaps, the first of its kind in Lagos, with a housing model focused on sustainable living. He added, “This is done alongside other modern tech solutions designed to improve the quality life, such as stealth security system, world-class recreational areas and water treatment facility.”

As regards the sustainability of the environment within the estate, he said: “The need to separate and re-use waste to enhance better life, no doubt, has prompted Citadel Views Foundation to embark on a generational life-saving campaign. 

“We are already painstakingly building a sustainable green estate to reduce necessary emissions, which could put the climate in jeopardy. The world is presently talking about climate actions, and as a way of bequeathing a safer and better planet to the generations unborn, we are partnering notable companies like Coca-Cola to ensure that waste generated, especially the Polyethylene Terephthalate beverage bottles, known as the PET, can be recycled.”

Explaining how tech will drive human activity in the new estate, Okonkwo said, “In addition, the estate’s residents will have access to an efficiently installed Google Voice Assistant. This will enable them to get basic information about their environment in terms of the traffic situation and best route to ply, and the weather.”

There is no denying that proptech is fast influencing the real estate market now more than ever, as tech is integrated into our everyday lives, to the extent that every product, service, process and business model in the sector is driven by tech. In fact, digital innovation continues to change the real estate sector so much that it is majorly used to reach out to consumers. 



Proptech is technology aimed towards the real estate market. It may be used to alter the way real estate is bought, sold, designed, contracted and/or managed, both commercial and residential properties. The term, no doubt, is fast gaining popularity, as it is making significant impact in the sector. This tech is advancing at such a rapid rate and is affecting buildings in the sector.

It is such a broad term that can cover so many different aspects. Its function is to improve the work of professionals and companies in real estate. It offers a rapidly changing digital landscape for the real estate sector, in which different stages of proptech is brought to bear on meeting consumers’ needs. It includes chatbots.



A chatbot or chatterbot is a software application used to conduct an online chat conversation via text or text-to-speech, in lieu of providing direct contact with a live human agent. It is a simple use of proptech to dramatically improve customer experience. Chatbots are a must-have for almost any customer service website. They can help to reduce manual work and costs. Powered by Artificial Intelligence, they can help to provide actionable insights into customers’ needs. 


Micro investing

Micro investing means that even people with little savings can enter the world of investment. It means investing in fractional shares of a stock. The same principle is now being applied to real estate. It is possible to buy a percentage of a property and reap some of the financial rewards. This could be from the lease of the property or from its increase in value over time and eventual sale.


Last line

Against the foregoing, there is no denying that these days, proptech is the catchword on everybody’s lips. It is called the new disruption power and driver of innovation. It is said to be the remedy for real estate agents, who deal with endless paperwork and confusing spreadsheets.

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