Redefining Real Estate: Regent Real Estate CEO Ogaba Sanni on Trust, Growth, and Nigeria’s Housing Market
As Nigeria’s property market continues to evolve, Regent Real Estate has positioned itself as a company focused on trust, professionalism, and customer-centered service. At the heart of this vision is Ogaba Sanni, the firm’s CEO, whose leadership emphasizes integrity and long-term value over quick gains. In this interview with BusinessDay, Sanni shares his thoughts on the industry’s challenges, Regent’s growth strategy, and the importance of building lasting relationships with clients.
Nigeria’s luxury property market has been described as resilient despite economic headwinds. From your vantage point, what factors are sustaining demand at the top end of the market?
Two major factors stand out.
First, the weakening of the naira has shifted the priorities of wealthy Nigerians and investors. With inflation and devaluation eroding the value of cash, people are turning to hard assets, especially prime real estate in Ikoyi, Banana Island, Victoria Island, and now Lekki Phase 1. For high-net-worth individuals, these properties are not just homes but “wealth storage,” as they tend to preserve and even grow in value in dollar terms.
Second, diaspora demand has surged. Naira depreciation has increased the buying power of Nigerians abroad, making prime properties appear relatively affordable compared to a few years ago. With remittances rising to about $20.93 billion in 2024, more diasporans in the US, UK, Canada and beyond are acquiring luxury homes both as investments and as a base in Nigeria.
Inflation and currency volatility have been major concerns for developers. How are these forces reshaping your project planning and delivery in the high-end segment?
Speed of execution has become critical. Every delay means higher costs for materials, labour and financing. To manage this, we now adopt accelerated project cycles, including prefabrication and modular construction, to shorten timelines without compromising quality.
At the same time, efficiency in design is key. We are focused on “functional luxury”, maximising natural light, airflow and usable space, while using durable materials. Digital design platforms help us streamline collaboration and avoid costly mid-project changes.
Finally, supply chain discipline has become a differentiator. We prioritise local sourcing to reduce dependence on volatile imports and, where imports are unavoidable, we secure pricing and timelines through strong supplier partnerships. This lean approach keeps costs under control and ensures faster delivery.
Some argue that Nigeria’s luxury developments still fall short of global benchmarks in finishing, efficiency, and amenities. Do you agree, and what can be done to close that gap?
It is true that not every project in Nigeria meets global standards, but the gap is narrowing quickly. Developments like IV Bourdillon, Cuddle, and The Belmonte show that our market can compete with Dubai, London or New York in both design and lifestyle. Projects under construction such as Quantum Towers on Ozumba Mbadiwe, and our own Park Towers in Victoria Island and 41 Turnbull, Ikoyi will raise the bar further.
The reality is that Nigeria’s luxury market is still young, so the volume of world-class projects is lower compared to mature economies. But as the market stabilises and investor confidence grows, we will see more globally competitive projects, particularly in premium zones like Eko Atlantic City.
When you speak of “fit for purpose” developments, what does that mean in practical terms for the investor or homeowner?
It means delivering both functionality and long-term value.
For investors, a fit-for-purpose development is one that holds its value, attracts tenants easily, and ensures steady returns. For homeowners, it means spaces designed to support real lifestyles, adequate natural light and ventilation, thoughtful layouts, reliable utilities, leisure facilities, smart home features, and strong security. It’s luxury that balances elegance with practicality.
Material costs have risen sharply in recent years. What procurement or design strategies help you preserve quality without pushing prices beyond what buyers can accept?
We rely on direct and data-driven procurement. Wherever possible, we buy straight from source, cutting out middlemen. Our partnership with Cutstruct Technology also gives us real-time price aggregation, as well as relying on them for supply of key construction materials by leveraging their wide pool of building material manufacturers..
This approach helps us manage costs without compromising on finishes. On the design side, we specify materials that are premium but also cost-efficient and sustainable long-term. The combination of smart sourcing and disciplined design allows us to maintain quality while keeping pricing attractive.
Premier Court in Lekki Phase 1 was delivered during a period of steep cost inflation. How did you adapt while maintaining your high-end standards?
That project tested our principles of lean operations and forward planning. We purchased essential materials early, hedging against inflation, and relied on long-standing partnerships with suppliers and contractors to keep costs stable and timelines intact.
Despite the volatility, we delivered Premier Court to our standards, which proved that disciplined planning and the right partnerships can make world-class delivery possible even in tough conditions.
Sustainability is becoming a non-negotiable in global real estate. How do you see eco-friendly and energy-efficient design fitting into Nigeria’s luxury developments?
Sustainability is fast becoming an expectation in our market too. Buyers increasingly want homes that are luxurious and environmentally responsible. That means solar solutions, water recycling, energy-efficient systems, and sustainable materials.
Beyond environmental benefits, these choices reduce running costs and make homes more reliable in Nigeria’s infrastructure environment. Over time, they will also protect long-term value, especially as ESG standards start shaping investment flows into real estate.
Government policy can be both a driver and a barrier to real estate growth. What specific reforms or support measures would most benefit the premium property segment?
Three areas stand out.
First, Nigeria needs a more transparent credit system to expand access to financing, beyond collateral-based lending. With reliable credit reporting, banks could lend at sustainable rates like in mature markets.
Second, collateral registries should be expanded to recognise presale contracts and receivables. This would allow developers to raise financing transparently against off-plan sales, giving both banks and buyers more confidence.
Finally, the government should deepen infrastructure partnerships with developers. When roads, power, and security are guaranteed around projects, it elevates entire neighbourhoods and supports property values.
Looking ahead, where do you see the most viable opportunities for growth in Nigeria’s luxury property market over the next five years?
Mixed-use, live-work-play developments will drive the next phase. The future of luxury is integrated environments that combine residences with high-end retail, dining, and leisure, offering exclusivity and convenience in one ecosystem.
In congested urban centres like Lagos, these developments solve practical challenges while delivering prestige, making them especially attractive to both local and diaspora buyers.
For emerging developers aiming to enter this space, what is the single most important discipline or mindset they must develop to succeed?
Differentiation. This is not a market where copycat projects succeed. Buyers expect uniqueness in design, lifestyle and value. Developers must commit to creating projects that stand out and consistently deliver on their promises.
Success in this space requires originality, hard work, and discipline. The luxury buyer is uncompromising, and only those who can meet that expectation with resilience and creativity will thrive.
