By Nkiruka Nnorom
Afriland Properties Plc has said it is well positioned to benefit from emerging opportunities in the real estate sector to continue to deliver superior value for its stakeholders.
This is even as the company declared N856.6 million final dividend for the year ended December 31, 2024, following the impressive financial performance for the year.
The company’s Chairman, Mr Emmanuel Nnorom, made the declaration at the virtual Annual General Meeting, AGM, saying the company would continue to innovate and expand its project portfolios to drive long-term value creation.
He stated that the company’s focus on customer satisfaction and operational excellence would enable it to navigate potential uncertainties in the industry and maintain its competitive edge.
He said: “The real estate sector in 2025 is expected to benefit from government initiatives aimed at improving housing accessibility and infrastructure development. The on-going digital transformation in the sector, including the adoption of smart building technologies and prop-tech solutions, will further enhance operational efficiencies and investment attractiveness.
“Our company is well positioned to capitalise on these emerging opportunities. We will continue to invest in innovative and sustainable real estate solutions, expanding our project portfolio and strengthen partnerships to drive long-term value creation.”
Laying the company’s financial result before the shareholders, Nnorom said that Afriland Properties was able to sustain growth within the financial year despite the challenges and hurdles that confronted the sector in 2024.
He said: “The real estates sector in Nigeria faced both opportunities and hurdles. On the positive side, urbanisation continued to drive demand for residential and commercial properties, particularly in Abuja, Lagos and Port-Harcourt.
“The government’s push for affordable housing and public private partnerships, PPPs, provided avenues for growth in the mid-to-long term.
“However, challenges such as rising construction costs, limited access to credit and infrastructural deficit posed constraints to sectoral growth.
“Despite these challenges, our company continued to expand its footprint in the Nigerian real estate market. Through strategic investment, innovative housing solutions, and customer-centric approaches, we sustained growth and profitability while adapting to the evolving economic environment.”
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