Profit in a shortlet business as a commercial real estate investment can’t be recorded, says Okonkwo
You can only leverage on the cash flow generated from running a shortlet in Lagos, a commercial real estate investor, and space management expert, Emeka Okonwko said.
He added that the real estate industry in Nigeria is rather too concentrated on the urban areas rather than focused on reducing the housing deficit appropriately through urbanisation of other parts of the country.
DIS Spaces Limited, founded by Okonkwo is one of Nigeria’s top commercial real estate companies with 16 commercial facilities, operating in five cities and three countries. With a wide portfolio of commercial spaces facility management services in several locations in Lagos, they provide consumers offerings between professional and traditional residential letting and breed creativity through functional, innovative and flexible service offerings empowered by cutting edge technology.
Having invested and operated the shortlet accomodation business for nine years, Okonkwo has a proven track record of successfully spreading and reinvesting on more shortlets across the Lekki axis. He is currently editing and would soon release an e-guide that would explain and prove with numbers how you cannot record profit but still be successful in running a shortlet as a commercial real estate investment in Nigeria.
Speaking about the role of his services he said, “As an hospitality-related service, we aim at delivering a work life balance accommodation and workspace to our guests and this is in view of why and how our facilities are built. Every guest has found our facilities to be the best space for this.”