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By Maduka Nweke
The Group Managing Director of Metro & Castle, Dr. Adekunle Abdul, has said that despite the economic downturn in the country, the company delivered a total of 600 housing units to clients this year. He stated that the company has the capacity and will do much to support loan facilities for clients who show resilience in payment structures.
Speaking to journalists during the company’s yearly HangOut at its office in Ajah, Lagos, Dr. Abdul revealed that the secret of his business is the ability to deliver to clients as agreed. He said that no matter the economic hardship, the company maintains and keeps its promises to clients, adding that when promises are kept at the start of a contract, the company enjoys the goodwill of strong referrals from clients.
On why the HangOut has become a yearly ritual, Dr. Abdul said, “It is a time for us to showcase our integrity and capacity to our realtors, who are also stakeholders in what we do. “We want to keep reinforcing the idea that Metro is a brand to reckon with, as we have started and finished all our products over the last six years, back to back, without any failure to deliver to our subscribers through the realtors.
“So, it’s an opportunity for the realtors to come, celebrate with us, and be happy that their customers are also satisfied.”
He noted that 2025 was tough, yet some realtors, as displayed, sold a lot of units while others struggled. “But I think it’s a general economic phenomenon. Nigeria as a whole is facing tough times. Some people have as much access to resources or are hoarding them, while many others are struggling for survival. We thank God because we were able to pull through. Our units are completely sold out, and some of the realtors achieved their target goals. This year really tested our training sessions, and I can say they have been impactful. We have tens of people subscribed for the next training. It’s not just realtor training; there is construction management training as well, where realtorship is built into the schedule. People who have done the training have come out saying they want to learn more and more. It has been a success. Next year, we want to go all out. We intend to have more realtors join, and we believe we will solve major crises in the real estate sector this way. We train people on how to identify good documentation so they don’t end up in legal trouble, and how to evaluate structures so they don’t buy dilapidated buildings that leak. All this training benefits the realtors, and they are excited.” On how the new tax regime to be introduced next year will affect liquidity and realtors’ access to funds, he said, “There is a lot of money. Money has only one option: it has to go to the bank, because we can’t keep money at home. The truth is, I don’t think anyone will be too concerned about tax implications if the government delivers on its promises. More advanced countries pay higher taxes, but they also provide infrastructure, power, access roads, water, and basic amenities. It’s not about the tax; it’s about whether we get value for what we pay. If the government meets its obligations, there will be no reason not to pay.”
