10th January, 2024
In a decisive response to the challenges posed by heavy construction inflation in Nigeria, LandWey, has announced a strategic shift in its business model.
According to the real estate company, it is transitioning to an urban site and service developer, focusing on exclusive land offerings and committing to completing all ongoing residential developments by the second quarters of 2025.
The company in a statement on Wednesday said it has an impressive record of selling the largest square meters of land since its inception and boasting a vast portfolio of residential units, making it stand as a pivotal force in the Nigerian real estate industry.
“The company is adept at adapting to the interests of its clients and the company amid evolving market conditions. Facing substantial inflationary pressures in Nigeria’s construction industry, LandWey pivots to focus on land projects as an urban site and service development company, aligning with dynamic real estate market dynamics. This strategic evolution is driven by a vision for resilience and adaptability, ensuring sustained growth and continued delivery of quality projects,” it said.
LandWey emphasised the necessity of this transition to navigate challenges presented by construction inflation, aiming to shield the company from market uncertainties while enhancing its capacity to fulfill commitments to existing clients, saying the move underlined its ability to recognize and adapt to market trends promptly, solidifying their position as an industry leader.
Assuring current residential project clients, LandWey maintained a firm commitment to completing ongoing developments by second quarter of 2025, reinforcing dedication to trust and promises made to valued clients.
The company added that its decision to focus on land projects as a site and service urban community developer is recognized as a forward-thinking approach, leveraging opportunities in a dynamic real estate landscape, which it said positioned LandWey for sustainable growth, aligning with broader industry trends and establishing itself as a strictly Land Company.
“LandWey’s move isn’t just a response to challenges; it’s an innovative step toward shaping the future of real estate in the region.
“By prioritizing land development and pledging to conclude existing residential projects by Q2 2025, LandWey reassures stakeholders, demonstrates adaptability, and continues to provide high-quality real estate solutions,” the company said in the statement.