Dr Stephen Akintayo, Founder of GText Holdings, says liquidity challenges remain a major threat confronting operators in Nigeria’s real estate sector.
Akintayo spoke on Friday in Lagos during activities marking the company’s 18th anniversary celebration.
He said many firms struggled because real estate investments tied down capital for long periods without immediate returns.
He said: “Real estate is structured in a way where capital is tied down for a long time.
“If you don’t trade and have other businesses you can take on, you will have liquidity problems.”
He noted that several operators had faced similar challenges in recent years.
According to him, not every struggling real estate company deliberately intended to defraud investors.
“We have had our own fair share of liquidity issues. A lot of our colleagues also went through those liquidity challenges.
‘Not all real estate companies are trying to play games. Many have liquidity issues and are trying to unlock liquidity in ways that failed,” he said.
Akintayo said the anniversary marked a major transition for the company towards global diversification.
He explained that the company spent its first seven years in bulk SMS and digital marketing, and the next decade in real estate.
According to him, the next phase will focus on agriculture, renewable energy, security technology and artificial intelligence-driven businesses.
“We are responding through aggressive diversification into agriculture, renewable energy, e-commerce, security technology and AI-driven businesses,” he said.
Akintayo said the strategy included Ginido for green energy and security solutions linked to China, and GText Farms for commercial agriculture.
He added that the company was restructuring to attract institutional investors and strengthen global expansion.
“We built this company largely without relying on bank loans.
“Going forward, we are restructuring to begin attracting institutional investors,” he said.
Akintayo disclosed that GText was expanding into private security solutions through partnerships with major CCTV manufacturers in China.
“We are partnering with major CCTV manufacturers in China.
“The plan is to begin assembling security cameras locally before eventually producing them in Nigeria,” he said.
He said the security business would deploy AI-powered surveillance systems, body cameras and emergency response technologies.
On Artificial Intelligence, Akintayo said the company had already achieved over 50 per cent AI adoption among its workforce.
“For us, AI is not optional. One person can now do the work of 20 people by leveraging AI,” he said.
He, however, warned that AI could significantly reduce white-collar jobs globally.
Akintayo said: “I project that about 70 per cent of white-collar jobs will disappear. That is why young people must embrace practical and entrepreneurial skills.”
He said the company trained realtors during the anniversary celebration to improve professionalism within the real estate industry.
According to him, the four-day training covered digital marketing, land titling, deal closure strategies and global property opportunities.
He added that GText also distributed fuel and cooking gas to more than 1,000 beneficiaries in Lagos and Abuja.
“We partnered with Rainoil and Petrocam to distribute fuel and cooking gas. So far, over 1,000 Nigerians have benefited from the intervention,” Akintayo added.
Also speaking, the Deputy Group Chief Operating Officer of GText Holdings, Mr Farouq Usman, highlighted the Developers and Investors Conference and Exhibition.
Usman said the programme was designed to expose aspiring realtors to opportunities in property investment and land banking.
An entrepreneur and Chief Executive Officer of Pamtech Group, Mr Ndubisi Chidomere, urged developers to adopt innovative approaches in property development.
According to him, developers must build with the future in mind to meet changing market demands and lifestyle needs.
Chidomere also stressed the importance of the media in promoting the real estate sector.
He described the media as a vital tool for visibility, public education and industry development.
“The media serves as a form of research and development by educating the public and showcasing products and services,” he said.
An industry expert, Mr Eizu Uwaoma, advised aspiring entrepreneurs against taking loans to start real estate businesses.
Uwaoma warned that excessive bank interest could undermine sustainability and long-term growth.
He, however, said borrowing could be considered for expansion after a business attained stability and profitability. (NAN)
