Away from Lagos, real estate investment focus is gradually shifting to the oil-rich southern part of Nigeria where investors say they see untapped opportunities with high investment yield. Conventional real estate investors and new market players are in places like Port Harcourt, Delta, and Owerri which have emerged new investment destinations for both residential and commercial developments.

At the commercial segment, Resilient Africa, a property development and investment company is set to deliver retail malls in Delta, Owerri and Asaba, all aimed at offering the growing middle class new shopping experience. Similarly, Anambra State government and African Capital Alliance will, by end of 2015, deliver the 15,000 square metre Onitsha Mall which is still under construction.

Another firm also planning to exploit the huge opportunities in this axis, precisely in Delta state, is Grace Bounty Properties. The firm which is the promoter of Grace Garden Estate, Agbara, says its decision to go to Delta was informed by the tourist attractions and relative peace enjoyed by the town in recent time. “We see Delta as a safe, serene and tourist town with huge rewarding potential for the real estate sector, Stanley Awaogu, the company’s managing director, told journalists at a media briefing in Lagos.