Why you should invest in Nigeria real estate

There are myriads of reasons why you should invest in Nigeria real estate and if you have been considering investing in Africa and real estate is in your mind, then Nigeria should be your best destination. With a population of over 206 million people, and millions of housing deficit, Nigeria is sure the best place to put your money. Unlike many other real estate markets in Africa or the world, Nigeria real estate market guarantees both short term and long term profit and entry capital is not that much. If you want to start with a bungalow, you could start with just $40,000 depending on the location.You can image a country where you can develop a low cost housing estate of over 100 unit bungalow with just 1 million US dollars and generate more than 80% of your investment capital in profit.

In 2019 Icorp Global Partners, did an intensive research on real estate housing development in Nigeria and they discovery was amazing. A gold mine that is yet to be tapped. For the purpose of third party confidential agreement, we will just share a snippet of a housing development proposal that was born out of this research.  In this proposal, the city of Owerri, the capital of Imo State was used as a case study.


Imo is one of the 36 states of Nigeria and lies in the South East of Nigeria with Owerri as its capital and largest city. It was created on the 3rd of February 1976. Imo has twenty seven local governments. 

Located in the south-eastern region of Nigeria, it occupies the area between the lower River Niger and the upper and middle Imo River.It’s location makes it very attractive as the number one  eastern state to reside in, as it is bordered by Abia State on the East, River Niger and Delta State to the West, Anambra State on the North and Rivers State to the South. The State lies within latitudes 4°45’N and 7°15’N, and longitude 6°50’E and 7°25’E with an area of around 5,100 sq km. 

Imo state prides herself with a population of four million, eight hundred thousand. Her richness with natural resources such as; crude oil, natural gas, zinc and lead have made it an investment hub for foreign investors.

Many trade and investment opportunities abound in the peaceful State including Oil and Gas Exploration, Chemical Plants, Brewery Plants, Hydroelectricity and Gas-Fired Power Plants, Grain Milling, Starch Production, Cashew Product Industry, Fruit and Vegetable Juice Concentrate Production, Integrated Multi-Oil Seeds Processing Plant, Ceramic Industry, Inland Waterway Transport, Integrated Palm Produce Industry et al.

In addition the presence of oil and gas investors, independent global brewer, Heineken through its subsidiary Nigerian Breweries has significant investment in Imo State. The company manages the world-class Awo-omamma Brewery, a multiple-line brewery plant.

Many more opportunities in oil and gas are yet to be fully exploited. The Federal Government has been called to inspect newly discovered oil-rich council areas for possible exploration in order to increase the presence of the federal government in the State and the region. This indeed would enable economic development, foreign investments and more job creation.

Establishment of industrial parks and processing zones like Ada Palm, Avutu Poultry, etc. to harness the huge agricultural produce and the presence of 163 oil wells at over 12 different locations in Imo State by Addax Petroleum, Chevron Corporation, Royal Dutch Shell and Agip have given a major boost to the State’s economic growth and industrialization.

Oguta Lake in Oguta local government, Palm Beach Holiday Resort in Awo-omamma and a host of other tourist sites along the banks of the 26 km-length Njaba River have presented hotspots for tourism. Also,Imo State has the 6th busiest local airport in Nigeria which is a 10 mins distance to Owerri the capital city. This airport is also an International cargo airport which is good for business.

Imo state is an up and coming state that is rapidly growing due to the influx of upwardly mobile individuals, the growth of the Nigeria middle class, and the influx of capital from overseas. Imo state also appeals to visitors as a weekend retreat with plenty of activities as the State is the home of many magnificent Hotels, clubs and relaxation centers.


The mission of ICORP GLOBAL PARTNERS is to create a lasting business portfolio in real estate. Our focus will be on estate development. Also ICORP GLOBAL PARTNERS will seek to purchase residential properties that have the potential to generate immediate return on investment upon completion of renovation either by renting, leasing, service apartment or sale. We will then take proceeds to service the loan.  If a property is sold outright, after redeeming the outstanding loan, the proceeds will be reinvested to a second project. To help the Nigerian property market, we are developing a state of the art online real estate marketing website for the sale, rent, promotion and advertising of properties in Nigeria; www.zimbooz.com.


  • To buy two hundred plots of land and develop two different housing estates for sale.
  • To invest in undervalued residential real estate properties for the purpose of renovating, remodeling, rebuilding and refurbishing and then immediate resale, or to hold and rent properties, generating monthly income while obtaining market value appreciation over a longer period.
  • To manage real estate investments from identifying potential properties, to evaluating, to acquisition, and to final sale or disposition.
  • To manage newly acquired residential properties.
  • To manage the residential properties that are rented.
  • To provide an online marketplace to widen our market and increase our clientele.
  • To provide other realtors an opportunity to sale their properties online.
  • To use our website as a platform for other businesses to promote and advertise their businesses; generating extra income for the company.


Acquisition of undervalued residential properties. The greater the discount that properties can be purchased, the greater the upside for short term or long term gains will be.

Complete the renovation work within the scheduled time and within the budgeted amount.

Recognize buying opportunities on specific properties that would provide the option to immediately resell selected renovated or rehabilitated properties upon completion for short term gain.

Find rental occupants for the selected properties before renovations are completed or at the first opportunity after completion.

Generate cash flow from rental income sufficient to cover debt and expenses and provide funding for new property acquisitions.

Maintain an average 90% occupancy rate each year on rental properties.

We are the only the biggest property listing website(www.zimbooz.com) in Owerri, and South East of Nigeria, and that offers us a better footing in marketing our homes directly and earning full commission.

Generate revenue from our property website by offering property agent services and also using our websites for adverts.

Provide projected overall 45%-50% return on investment.

With our new resolution to build a strong business in the real estate market, ICORP GLOBAL PARTNERS plan to achieve this goal by purchasing one hundred plots of land in two different communities (suburbs) 10 minutes away from Owerri town to develop a 120 unit low-cost housing estate on each of the locations.

A 3-bedroom flat apartment will be built on half plot making it 120 units to be built on a 60 plots. Fifteen plots will be used for road constructions. The remaining 25 plots will be used for building Nursery/Primary school, small shopping mall and park (exclusively for estate residents). In all the two housing estates will contain 240 units of 3-bedroom flat homes.

This project will focus primarily on civil servants, middle class, expatriates, Nigerians in diaspora, property investors and private equity partners. Our intention is to sell these units to this category of individuals.

An example of purchase is as follows;

The buyer will be required to deposit an amount of 25% valuation of the property. A further 25% will be due within 12 month and the balance of 50% will be due on or before the following 12 months given a total period of 24 months to pay.

We intend to discuss a possible lender mortgage facility from you for our buyers.

Icorp Global Partners will sell all the 240 unit homes but will retain the Shopping Mall, Schools, and parks. We will also reserve the right for management of the housing estates.


Because of lack of price control and irregularity in Nigeria real estate market which many property owners and realtors have taking advantage of, statistics has shown that over 60% of civil servants and middle class in the country are desperate to become home owners.

By providing these affordable homes we are providing people with the opportunity to live their dream of owning their own homes.

Our research has shown that these homes will be sold quickly after completion as there are over one million (1,000,000) individuals in this category who are ready to jump into this rare opportunity. Now is the time to cease this opportunity to profit, and help put smiles on the faces of many.

Also, Ikenegbu and Aladinma area of Owerri, is considered to be a sub-market of the greater Owerri, market area. While the median home price increased in areas (40%), from 2014 to around March 2018, on average this is approximately the same rate of increase as of the Concord Hotel area (50%) which is the haven of the rich.

This situation critically considered has set real estate market on the path of profitability. This is because though investors will benefit massively from short sale, the cost of property resale and rent will not be affected on the downside. Therefore good returns will be rallied on every investment done on properties following this prevailing trend.



Each unit home in our estate is projected to sell for thirty thousand US Dollars (30,000USD)

Total sale Projection = 30,000*240 (7, 200,000 USD).

For buy, fix and flip/rent investment, our projection shows that we will generate Two million four hundred and thirty six thousand, one hundred US Dollars. (2,436,100 USD)

Total Revenue: 9,636,100 USD

Net Income: 2,636,000 USD

Note: This income projection is for one year cycle and expected to increase. And it excludes income from our Malls, Parks and Schools.

This snippet is curled from Zimbooz housing development proposal which was designed with in-dept analysis provided by thorough research. It shows how profitable Nigeria real estate is, and it’s important to note here that foreign nationals can invest in Nigeria real estate market.All you need is proper guidance and direction from experts in this space and you’ll be good to go.

You may not actually have the capacity to start in this scale. Don’t let that deter you as you could just start with one building and grow through the ladder. Whichever way, you are guaranteed good return on your investment.

If you’d want to have an in-depth discussion on this topic, feel free to reach out to us.

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