An
expert in the property market has described the real estate market as
an investors’ haven, adding that the industry holds great potential for
operators in the country.
“If you create a culture, after a while
people will see the way things are done and they will be compelled to
follow suit,” he added
Speaking on the theme: ‘Growing a
diversified group of businesses’ at the Fidelity SME Forum, a weekly
radio programme being packaged by Fidelity Bank Plc, the Chairman/Chief
Executive Officer, Genesis Group of Companies, Chief Nnaeto Orazulike,
said the property business was one area where investors could expect to
recoup their investment within a short period of time because of the
high return on investment.
He advised Small and Medium Scale
Entrepreneurs desirous of growing their businesses to make conscious
efforts to tap into the huge property market in the country even as they
ploughed back the excess funds into their businesses.
“Naturally, as you grow your business and
develop it, the best thing to do with the excess, which the business
doesn’t absorb is to invest it in real estate,” he said.
“Real estate, as far as I am concerned,
is the best of value. It will grow over time, out last you and
generations to come,” Orazulike, who is also a director of Fidelity
Bank, was quoted as saying in a statement made available by the bank on
Sunday.
He advised the operators to be smart,
quick and articulate as the business required people who had the head
for numbers and who were able to think on their feet.
He, however, cautioned them to move into
areas of potential high yields, adding, “I will always put a caveat:
invest in prime property.”
The Genesis Group started in 1990 as a
small restaurant but has now grown into a conglomerate with interests in
oil and gas, hotels, industrial catering, family entertainment, steel
and real estate just within two decades.
Orazulike advised SMEs to invest in human
capacity development and create structures that would support the
growth of the business.
“Creating a structure is very important.
You need to create a structure that will support the growth and employ
good quality people and invest in training them and supporting them to
run the business with a sense of ownership in each individual business
so that the persons running it will have a sense of belief in what they
are doing and run it like their own,” he added.
Orazulike stressed the importance of
culture in any organisation as it would make for easy adoption of
company values and ideals.
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