Experts have urged investors in the real estate sector to pay close attention to infrastructure development, saying areas along emerging road, rail and other infrastructure corridors are likely to become the next major value zones for property investment.

They also advised investors and developers to move beyond land speculation and focus on productive development, innovation and long-term value creation, while paying close attention to the legal and regulatory requirements governing the sector.

The experts spoke at a real estate expo organised by Ikoyi Club 1938 as part of activities marking the club’s 88th anniversary.

The Founding Partner of M.I. Okoro & Associates and an associate of the firm, Dr Meckson Okoro, who led discussions at the event, said infrastructure, including roads, rail, power, water, drainage, security and digital connectivity, determines the value of real estate.

Okoro, who spoke on the theme, “The Future of Real Estate: Investment, Innovation and Wealth Creation,” said Nigeria had enormous opportunities in the sector, driven by rapid urbanisation, population growth, housing demand and expanding infrastructure.

He said investors should focus on turning opportunities into productive assets rather than merely acquiring land and waiting for prices to rise.

He, however, warned that technology could also facilitate fraud through fake listings and doctored title documents, stressing that professional judgment, integrity and proper due diligence must remain central to real estate transactions.

Okoro, who also called for stronger collaboration among government, employers, financial institutions and developers to expand access to home ownership, advocated an employer-supported housing model under which employers contribute towards workers’ home ownership, with employees making repayments through payroll deductions, while government-backed mortgages provide additional financing.

Besides, he stressed the need for sustainable development, warning that poor building standards, flooding, inadequate drainage, rising construction costs and title insecurity remained significant risks to property investment.

Former Head of the Department of Estate Management, University of Lagos, Prof. Austin Otegbulu, who spoke on property law, due diligence and securing real estate investments, advised investors to comply with the rules and regulations governing the property market.

He urged investors to familiarise themselves with relevant laws governing property transactions, including tenancy, mortgage and property laws.

Also speaking, Executive Director, Enterprise Services, Lagos State Development and Property Corporation (LSDPC), Adeniyi Aromolaran, who represented the Lagos State Government, said the state was deliberately pursuing measures to address its housing deficit.

Aromolaran said real estate would remain a major anchor of investment in Lagos, urging investors to pay attention to infrastructure and rail corridors as the state expands its transportation network.