Michael Ejekam

Michael Ejekam Blog: 2018’s Real Estate Prediction

Michael Ejekam, Michael Chudi Ejekam, Michael Chu'di Ejekam, Chudi Ejekam, Chu'di Ejekam
Courtesy of castles.com.ng

February 2018. Fine & Country organized ‘Navigating Change’ in collaboration with Business Day and Lagos Business School. ‘Navigating Change’ will set the tone for the year by identifying the impacts of the current economic and political standing in the Real Estate Industry. Winning strategies for the current economic state was discussed by experts and current trends and opportunities for residential and commercial sectors were also mentioned by some.

The Real Estate Outlook session was formally started by Dr. Henrietta Onwuegbuzie, Director of Entrepreneurship, Lagos Business School, with her welcome address. Mr. Frank Aigbogun, Publisher for Business Day, then commenced the seminar by saying Real Estate mirrors the Economy and gave his insights to the current economic situation.

Michael Ejekam on The 2018 Economic and Real Estate Outlook

‘Navigating Change’ was described by Mrs. Udo Okonjo, CEO/Vice chair of Fine & Country, as a crucial seminar to discuss the reflection of the current and new market situation that is beaming with bright opportunities for Real Estate Entrepreneurs. Three main topics were discussed: Real Estate, Real Disruption; Bridging the Financial Gap; and Residential and Commercial Trends and Opportunities.

As one of the special guest, Mr. Michael Ejekam shared his insights and experiences working in the retail real estate. As a world-renowned leader in his field, the audience were keen to know his predictions for 2018’s economic and real estate growth, taking into consideration the current economic situation and its potential effects for Real Estate growth for the country.

During the program, Fine & Country and Lagos Business School has announced their collaboration to launch a Real Estate Leadership Course that will start on June 2018. She added that Fine & Country’s main goal is to continuously provide thorough leadership course in the Real Estate sector through courses such as this which is designed for Real Estate Entrepreneurs.

David Mbah, Commercial and Advisory Consultant, finished the Real Estate Outlook event by giving the Fine & Country’s perspective, wherein he shared a detailed insight on the Real Estate industry for 2018. Read the full article HERE

From the Michael Ejekam Blog: Impact of Retail on Youth Employment

Michael Chu'di Ejekam, Michael Chudi Ejekam, Michael Ejekam, Michael Chudi Ejekam Commercial Real Estate

Through the years, Michael Ejekam has had a hand in the development of several malls throughout Nigeria and Africa as a whole. These retail spaces aren’t just a sign of a growing economy, or even of improving lifestyles for people. For Nigeria’s unemployed young workers, they may be a sign of hope. This Michael Ejekam blog explores the unemployment issue in Nigeria and how retail just might be a key piece in solving it.

A “Society in Danger of Destruction”

Not too long ago, the president and CEO of Dangote Group in Nigeria used that phrase to describe the difficult employment situation. Aliko Dangote spoke out about the dangers associated with unemployment in a 2015 editorial, which served as an open letter to the Buhari administration. Referring to youth unemployment (up to age 34)  as “the monster that has kept our teeming youths on the fringes of human existence,” he called for the administration to “slay” it. “Our entire society is in danger of destruction unless we pay attention to this huge segment of our young and jobless global population,” he added. Around that time, youth unemployment rested around 50%, an astounding level that no doubt contributed to countless other issues throughout the country.

Retail Could Help Break the Cycle

Naturally, as the population grows, so, too, does the unemployment rate. The good news is, retail could play key role in reducing youth unemployment throughout the country. Broll Nigeria recently held a roundtable discussion called “Retail Industry: 10 Years from Now,” and the industry experts concluded that retail could be the biggest employer of youths in the coming years. Bolaji Edu, CEO of Broll Nigeria, offered further insights into the industry. “Despite a challenging environment,” he said, “Nigeria still holds promise for investors who are willing to take a long-term approach on investments.” However, the government will play a large role in whether retail continues to expand and create jobs. “The outlook for the retail sector is largely dependent on economic reforms as well as the lifting of foreign exchange restrictions,” Edu added.

So, although retail may not be a magic bullet that slays the beast, it very much could be with the right governmental procedures and policies in place. This would not only impact the Nigerian youths of today, but will build for a better future for the country overall.

Bookmark the Michael Ejekam Blog

For more information on the retail sector, business, investments, and news that matters to people throughout Nigeria and Africa, please be sure to bookmark the Michael Ejekam Blog now. We’ll be adding articles periodically, creating a searchable database of news, tips, and insights right here on this site. You can also check his crunch base profile to learn more.

From the Michael Ejekam Blog: New Lagos Mall Opened

Michael Chu'di Ejekam, Michael Chudi Ejekam, Michael Ejekam, Michael Chudi Ejekam Commercial Real Estate

Michael Ejekam has been involved in the creation of several malls, including the Ikeja City Mall and the Jabi Lake Mall, as well as the Abuja and Accra Malls. These kinds of projects are always exciting, as they show that investors have faith in the economy and they bring jobs and growth to the area. Although Michael Ejekam was not involved in the newest mall to open in Lagos, Nigeria, it’s still good news for local residents.

The Maryland Mall is Open

Onikepo Akande, President of Lagos Chamber of Commerce and Industry (LCCI) spoke at the inauguration celebration. “It is my sincere belief that this new mall will help to expose and grow the manufacturing and commercial potential of Lagos state and by extension, the national economy,” she said. Anchored by a Shoprite store, with many other venues for entertainment, shopping, and services, the location is expected to do quite well. Many businesses are eager to take up slots in the 7,700 square metre property, including companies like Stanbis IBTC Bank and The Place restaurant. Akande gives credit to the team behind the new development, explaining, “Indeed, retail is one of the cornerstones of trading and investment, and Purple Capital, the developers of Maryland Mall, have done extremely well to give Maryland a new lease of life through this retail investment.”

It’s a Unique Structure in a High-Volume Area

The Lagos State Ministry of Transport carried out studies of the area, highlighting traffic patterns and the best way to position things. It’s estimated that 5,000 cars will pass by every single hour, which will bring people naturally to the mall throughout the normal course of their days. Unlike most structures being built today,  the Maryland Mall is built lengthwise, rather than reaching into the air. It also boasts a few unique features, such as an underground parking lot, which is the first one in the country. Developers has also included a massive 550 square metre LED screen on the front of the building, which is the largest in all of Sub-Saharan Africa. It’s estimated that the structure cost some $25 million to construct, and took roughly three years to bring to fruition, from the early investing stage through opening day. So far, it has been well-received by local residents, who have largely been treating visits as a family outing and appreciating the nice cool air conditioning.

Bookmark the Michael Ejekam Blog

If you haven’t done so yet, please take a moment to bookmark the Michael Ejekam Blog. We’ll be adding all kinds of articles pertaining to retail, investment, and commercial enterprise throughout Nigeria and all of Africa. From time to time, we’ll also add in insights directly from Michael Ejekam, so expert advice and opinions on the market will always be at your fingertips.