REAL ESTATE AND TOURISM: UNLOCKING NIGERIA’S HOSPITALITY POTENTIAL

October 18, 2023by Riveton Homes0

INTRODUCTION

 

Nigeria, the giant of Africa, is experiencing a profound transformation at the intersection of entertainment, business, hospitality, real estate, and tourism. This intricate interplay is shaping the nation’s economic landscape and redefining the way people experience Nigeria. In this detailed article, we will explore how the entertainment industry and entrepreneurial ventures are propelling the hospitality sector, and in turn, how hospitality is driving real estate development and boosting tourism across the country.

  1. 1. THE RISE OF ENTERTAINMENT AND ENTREPRENEURSHIP

 

Nollywood and Beyond: A Global Entertainment Hub

Nigeria’s entertainment industry, particularly Nollywood, has captivated audiences worldwide. The international acclaim of Nigerian movies has attracted tourists eager to explore the vibrant film culture. Additionally, thriving music festivals and events showcase Nigeria’s diverse musical heritage, drawing in visitors and business opportunities.

 

  1. 2. THE IMPETUS ON HOSPITALITY

Entrepreneurs in Nigeria’s hospitality sector are leveraging the nation’s cultural richness to create unique  accommodations. These venues offer immersive experiences, blending local traditions with luxury, attracting tourists seeking authenticity. Moreover, the rise of culinary tourism, highlighting Nigeria’s diverse cuisine, is fueling the growth of restaurants and food-related businesses.

Corporate Travel and MICE Tourism (Meetings, Incentives, Conferences, Exhibitions)The influx of businesses and entrepreneurs necessitates sophisticated hospitality services. Business travelers and event attendees require modern, well-equipped hotels and conference centers. As Nigeria becomes a hub for international conferences and exhibitions, the demand for event venues and accommodations is soaring, leading to significant investments in the hospitality sector.

 

  1. THE RIPPLE EFFECT:HOSPITALITY DRIVING REAL ESTATE AND TOURISM

Entertainment hubs and business districts are reshaping Nigeria’s urban landscapes. Real estate developers are capitalizing on these trends by constructing mixed-use developments. These projects combine entertainment venues, office spaces, hotels, and residential units, creating vibrant, integrated communities. Investors recognize the potential for high returns, prompting the construction of iconic skyscrapers and modern living spaces.

 

TOURISM BOOST

Enhanced hospitality services are crucial in shaping Nigeria’s tourism landscape. Tourists, drawn by Nollywood attractions, cultural festivals, and business expos, require comfortable accommodations and memorable experiences. The growth of hospitality offerings, including eco-friendly lodges and heritage resorts, is amplifying Nigeria’s appeal as a tourist destination.

 

CONCLUSION

Nigeria’s journey at the crossroads of entertainment, business, hospitality, real estate, and tourism is a testament to the nation’s vibrant spirit and entrepreneurial drive. As each sector propels the other, the tapestry of opportunities woven is reshaping Nigeria’s image on the global stage. Entrepreneurs, investors, and policymakers must collaborate to sustain this growth, ensuring that the benefits of this symbiotic relationship reach every corner of the nation. With creativity, innovation, and collaboration, Nigeria is poised to become a beacon of integrated economic development, setting a precedent for the world to follow.

Till we come your way next week with more real estate insights, goodbye for now from all of us at Riveton Homes & Properties. For more information on how you can start investing in real estate, kindly call us on 07042409999 /07042099918 or send us a DM on all our social media handles  @rivetonhomes

 

 

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INITIAL DEPOSIT - ₦15,000,000 M
Apartment type
Outright
6 months plan
12 months plan
18 months plan
Studio Apartment
₦30,000,000.00
₦33,000,000.00
₦34,500,000.00
₦36,600,000.00
1 Bedroom
₦50,000,000.00
₦55,000,000.00
₦57,500,000.00
₦60,000,000.00
Standard 2 Bed
₦60,000,000.00
₦66,000,000.00
₦69,000,000.00
₦72,000,000.00
Premium 2 Bed
₦70,000,000.00
₦77,000,000.00
₦80,500,000.00
₦84,000,000.00
4 Bedroom terrace house +BQ
INITIAL DEPOSIT - ₦20M
Plan
Prices
OUTRIGHT
₦85,000,000
0 - 3 MONTHS
₦89,250,000
3 - 6 MONTHS
₦93,500,000
6 - 9 MONTHS
₦97,750,000
Register Interest
INITIAL DEPOSIT - ₦350,000
Duration
300 SQM
600 SQM
OUTRIGHT
₦990,000
₦₦1,900,000
0 - 6 MONTHS
₦1,089,000
₦2,090,000
6 - 12 MONTHS
₦1,237,000
₦2,375,000
Other financial Considerations
1
Development Fee
300 SQM: ₦750,000; 600 SQM: ₦1,500,000
INITIAL DEPOSIT - ₦10M
Duration
1 Bedroom
2 Bedroom
OUTRIGHT
₦35,500,000
₦45,000,000
0 - 3 MONTHS
₦35,500,000
₦45,000,000
3 - 6 MONTHS
₦39,050,000
₦49,500,000
6 - 12 MONTHS
₦40,825,000
₦51,750,000
INITIAL DEPOSIT - ₦1,500,000
Duration
250 SQM
300 SQM
500 SQM
600 SQM
OUTRIGHT
₦4,750,000
₦5,500,000
₦9,500,000
₦11,500,000
0 - 3 MONTHS
₦4,750,000
₦5,500,000
₦9,500,000
₦11,500,000
3 - 6 MONTHS
₦5,225,000
₦6,050,000
₦10,450,000
₦12,650,000
6 - 12 MONTHS
₦5,700,000
₦6,600,000
₦11,400,000
₦13,800,000
ALL FEES INCLUSIVE
INITIAL DEPOSIT - ₦15,000,000 M
Apartment type
Outright
6 months plan
12 months plan
18 months plan
Studio Apartment
₦30,000,000.00
₦33,000,000.00
₦34,500,000.00
₦36,600,000.00
1 Bedroom
₦50,000,000.00
₦55,000,000.00
₦57,500,000.00
₦60,000,000.00
Standard 2 Bed
₦60,000,000.00
₦66,000,000.00
₦69,000,000.00
₦72,000,000.00
Premium 2 Bed
₦70,000,000.00
₦77,000,000.00
₦80,500,000.00
₦84,000,000.00
INITIAL DEPOSIT - ₦2.5M
OTHER FINANCIAL CONSIDERATIONS
INITIAL DEPOSIT - ₦20M
Duration
300 SQM
600 SQM
OUTRIGHT
₦30,600,000
₦61,200,000
0 - 3 MONTHS
₦30,600,000
₦61,200,000
3 - 6 MONTHS
₦32,130,000
₦64,260,000
INITIAL DEPOSIT - ₦10,000,000 M
Apartment type
Outright
3 months plan
Boys Quarter (BQ)
₦19,900,000.00
₦21,392,000.00
Studio Apartment
₦39,900,000.00
₦42,892,500.00
1 Bedroom Apt
₦59,900,000.00
₦64,392,500.00
2 Bedroom Apt
₦69,900,000.00
₦75,142,500.00