Rooftop Space Contribution to CRE Market Values in Nigeria in 2021

Over 80% of commercially viable rooftop space within the Nigeria real estate markets remain largely underutilised.

The data from real estate and advertising markets in Nigeria put the rooftop space total contribution to the overall market value at 32.47% in 2021; representing a compound annual growth rate (CAGR) of 45.27% between 2018 and 2021, according to akinABRAHAM & ASSOCIATES Research.

The available market data show a major shift in asset management strategies in fighting the dwindling incomes, market uncertainty, volatility, rising inflation, vacancy rate, high operating expenses and capex, pandemic-led changes, amongst others.

Existing assets are benefiting from the market windfalls due to several factors - locations, great visibility, expansive covered area, permissible approvals, excellent traffic count; whilst others are looking at the possibilities from the design and construction choice, zoning and approvals, choice of location, height and rooftop space flexibility, etc.

For more updates on how to unlock the potentials and or repurpose your commercial real estate, please call +2348068774629 and www.akaa-ng.com

📸 credit: Aviation Plaza | RO & Co

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