Latest news from the Michael Chu’di Ejekam Blog: February 6, 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.
Michael Chu’di Ejekam: 2018 Economic And Real Estate Outlook
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.
‘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 Chu’di 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.
Michael Chu’di Ejekam delivered a presentation on the Broll event titled “Retail Industry: 10 Years from Now”. Michael’s presentation focuses on Nigeria’s retail development and is aptly named “The next generation of malls in Nigeria – the same? or Adapt?”. Check this slideshare for more information.
Michael Chu’di Ejekam knows real estate, especially commercial real estate in the retail sector. Over the years, he has had the pleasure of working on many development projects that have benefitted people in the United States, as well as throughout West Africa. These development projects have not only stimulated the local economies, but also highlight how the “retail revolution” has impacted consumers and changed the way people expect to experience a shopping experience to be.
Michael Chu’di Ejekam: Innovative Ideas and In-Depth Knowledge
As an honors graduate of the prestigious Wharton School of Business at the University of Pennsylvania, Mr. Ejekam has a firm background in the industry. His Ivy League education has helped him throughout his career. First, while working as a Wall Street investment banker at Merrill Lynch, and then later, while working for an American private real estate investment and development firm with interests in $2 billion of real estate assets. These experiences combined made him the ideal choice as the Director Real Estate for West Africa for Actis. For seven years, he served the $7.5 billion private equity firm, while it was the most active retail developer in sub-Saharan Africa. He provided the company with the necessary insights on demographics, potential challenges, and factors of success, enabling the company to take part in the creation of Lagos, Nigeria’s first certified green commercial building and several retail shopping malls throughout the region. Overall, he originated more than $700 million in retail projects with the firm, including Ikeja City Mall Lagos, Jabi Lake Mall Abuja, and Accra Mall, among others. The expansive list contains the largest retail malls in all of Ghana, Nigeria, and broader West Africa.
Michael Chu’di Ejekam as a Leading Expert in the Industry
These successes have put Mr. Ejekam in high demand with the media when they need to gain insight into a trend or the real estate market. He’s commonly interviewed by journalists and is also consulted by some of the industry’s most notable agencies and firms. His expertise spans the whole breadth of real estate, though commercial real estate in the retail sector is certainly his strong suit and passion. Moreover, he has a proven track record of full cycle retail investment and development. This includes site origination, equity investment, planning approvals, development management, tenant leasing, asset management and exit strategies.
Real Estate Info From Michael Chu’di Ejekam
This site is slated to be a hub of information for all things related to the global real estate market, from the United States to Nigeria, and everywhere in between. You’ll be able to find news, stories, statistics, and general info here, as well as special insights from Michael Chu’di Ejekam, himself. To make sure you never miss a post, be sure to bookmark this site and check back often for the latest updates.
Michael Chu’di 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 Chu’di 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 meter 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 have 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 Chu’di Ejekam Blog
If you haven’t done so yet, please take a moment to bookmark the Michael Chu’di 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 Chu’di Ejekam, so expert advice and opinions on the market will always be at your fingertips.