A real estate firm, Delta Mega Trend Nigeria Ltd, moved to fulfilling its dream of changing the narrative that real estate investment don’t thrive in the oil city of Warri. This came with the development of the Plantation City on a 1,700 hectares of land with only 120 hectares already completed.
Speaking to the press on the development of the estate, the Managing Director and Chief Executive Officer of Delta Mega Trend Nigeria Limited, Mr. Sam Ogrih, said the estate which is already 40 per cent developed is aimed at giving accommodation to over 8,000 residents in Warri, Delta State.
According to Ogrih, the Plantation City at Otokutu Delta Steel Company Expressway, is a perfect demonstration that Nigeria can grow its economic potential through real estate due to its multiplier effects that come with construction industry seen in places like Lagos, Abuja and Dubai.
Ogrih attributed the doggedness of some real estate investors and developers like Delta Mega Trend and others as the master stroke that changed the real estate narratives in Warri and its environs. He said that prior to this, the oil city was a ‘no go area’ for real estate investors due to security challenges and lack of interests by banks to support such ventures, making Lagos, Abuja, Port Harcourt, as choice locations for prime real estate developments.
He argued that most people have remained aparthetic to real estate business based on its capital intensive nature, but fail to understand that you don’t need so much money to start. “What you need is integrity and trust with little cash to start it up.
You don’t need to be every where at once, rather start somewhere and make your mark for people to notice you positively. For us here, we have every building material for use so clients have the opportunity and advantage of not labouring to bring in materials from outside.