At 74, Jim Ovia is hardly able to retreat into the quiet comforts of retirement. Rather, the astute entrepreneur seems poised to commerce the acquainted corridors of banking for the high-stakes world of premium property improvement, the place towering ambitions meet deep-pocketed buyers.
For Ovia, the stakes are clear. After many years of shaping fortunes in banking, he is able to construct one other legacy, this time in concrete, glass and metal. Having bowed out as chairman of Zenith Bank Plc, the billionaire businessman is deepening his investments by way of Quantum Luxury Properties Ltd., with two upscale residential tasks redefining his property ambitions in Lagos.
The first, Metropolitan Towers, is a 26-floor improvement providing residences beginning at $1.85 million. Its sister undertaking, Quantum Luxury Towers, contains 44 residential items, with costs starting at $2.8 million.
Recently, he disclosed that the developments have been attracting appreciable curiosity, with each tasks already recording important gross sales.
He declared that actual property is extra worthwhile than banking, providing a glimpse into the funding philosophy driving his newest enterprise.
Lagos, with its focus of prosperous people, company executives and worldwide buyers, stays a main vacation spot for luxurious property improvement. Despite inflationary pressures and the naira’s depreciation, demand for high-end residential lodging continues to draw buyers in search of premium addresses and long-term capital appreciation.
Yet, the market presents a placing distinction. While Nigeria grapples with a housing deficit estimated at greater than 20 million items, luxurious developments proceed to command extraordinary costs, catering to a slim however financially highly effective clientele.
