COVID-19 pandemic: Real estate, better option than cash asset – Folusho Samuel
As the world remains in limbo and uncertainty persists as a result of the Coronavirus pandemic, there is great panic in the world, leading to drastic choices being made. In the face of the global lockdowns people have resorted to desperate measures to survive in both their social and business lives.
In this unusual time many believe it is better to have their cash in their hands or stashed away in some financial institutions because they don’t know what the future holds. But Founder and Chief Executive Officer of Samitheo Network Company, a real estate company, Samuel O. Folusho has noted that this may not all together be a wise choice.
In a recent interview he posited that while it is good to have cash at this trying time, he also pointed out that it is an investment such as real estate that may survive most eventualities like the COVID-19.
“Real estate is the best investment for many reasons because in thick and thin, through all the crisis we have experienced as a country since independence , real estate has been the most consistent and sustainable form of investment, that can grow the value of your naira against the odds of devaluation and mono product styled economy. Cash evaporates if not well invested. Your 100 thousand naira in December 2019 is equivalent to 90 thousand naira today in less than 5months,”
He also maintains that the pandemic has had limited impact on real estate, noting it is still the best way to go during these unusual times.
“Due to the pandemic, the lockdown was imposed by the government, and that has limited physical access to landed properties. Still, despite this, electronic marketing has been an easy way of advertisement, keeping the sector relatively vibrant compared to other sectors of the economy,” said Samuel Folusho
Samuel O Folusho who hails from Modakeke local area of Osun State, Nigeria incorporated his real estate company, Samitheo Network Company in 2016 under the Companies and Allied Matters Act of 1990 of the Nigerian Corporate Affairs Commission.
He was born August 8, 1993. He is an alumnus of the University of Lagos with a BSC degree in business administration.
His company, Samitheo Network Company operates from Lekki, Ajah axis in Eti-Osa local government area of Lagos.
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