Introduction to RareAcre Investment Limited
The Chief Executive Officer of RareAcre Investment Limited, Kendrick Akhimie, has shared insights into the challenges and opportunities within Nigeria’s real estate sector. With a background in mechanical engineering and extensive experience in construction, property sales, and project management, Akhimie has built a career focused on innovation and value creation.
RareAcre Investment Limited is more than just a real estate company; it is a brand that aims to transform the Nigerian real estate landscape through its commitment to quality, transparency, and long-term value. The company’s mission is to redefine the industry by delivering projects that inspire trust and generate sustainable returns for homeowners and investors alike.
Vision and Mission of RareAcre
At RareAcre, every development is a reflection of class and long-term value. The company designs and develops premium residential and commercial projects that blend functionality, elegance, and investment growth. From luxury apartments to bespoke developments, RareAcre ensures that each project meets international standards.
In addition to construction, the company offers expert investment and property advisory services. These services help clients make informed decisions aligned with their goals, risk appetite, and market trends. By prioritizing transparency, RareAcre strengthens the integrity of the industry at a time when fraudulent activities are prevalent.
Innovation and Competitive Edge
RareAcre maintains a competitive edge by focusing on innovation. The company integrates technology, modern living standards, and long-term value into every product and service. By studying global trends and adapting them to the Nigerian market, RareAcre stays ahead of the curve.
With over 65 housing units developed and an 85% project completion efficiency rate, RareAcre has become a trusted name in the real estate sector. The company consistently delivers strong returns for investors, making it a partner of choice for those shaping the future of real estate in Nigeria.
Challenges in the Real Estate Sector
Nigeria’s real estate sector is under-regulated, with many agencies failing to enforce existing standards. This lack of regulation leads to building collapses, demolition cases, and land disputes. Policies that should support developers often become bottlenecks instead.
Bureaucratic red tape in property registration and title documentation significantly delays processes and slows development timelines. Lengthy approval procedures, inconsistent documentation requirements, and manual systems increase costs and create uncertainty, discouraging both local and foreign investment.
Sustainability and Social Responsibility
RareAcre ensures profitability while prioritizing sustainability and social responsibility. The company implements cost-efficient construction practices and sustainable solutions such as renewable energy and smart home systems. These efforts ensure long-term benefits for residents and the environment.
Legacy and Future Goals
Akhimie hopes to leave a legacy of trust, innovation, and quality in Nigeria’s real estate industry. RareAcre aims to set a new benchmark for ethical real estate development, where documentation is transparent, construction is solid, and the customer experience is reliable.
Resida Apartments, one of RareAcre’s flagship projects, reflects the company’s vision for premium living. Built with exceptional attention to quality and detail, the development features modern amenities, solar energy systems, and pile foundations for structural longevity and safety.
Advisory Services and Client Support
RareAcre’s advisory service supports clients in choosing the right real estate options. The service provides clarity and expert insights that protect clients from costly mistakes. Whether buying, building, or investing, the company offers data-driven guidance, due diligence, cost analysis, and development planning.
Addressing Industry Challenges
Nigeria’s real estate sector faces several challenges, including a lack of innovation, poor construction standards, and exaggerated claims of “luxury.” RareAcre addresses these issues through transparency, superior engineering, and genuinely innovative concepts.
Opportunities for Growth and Innovation
There are vast opportunities in smart housing, green buildings, mixed-use developments, affordable housing innovations, construction technology, and property digitisation. Developers who embrace technology, transparency, and data-driven planning will lead the next decade of real estate transformation.
Impact of Inflation and Construction Costs
Inflation directly increases the cost of building materials, labor, and logistics, affecting final selling prices. While better policies and reduced material costs would help, these factors are tied to economic conditions and policy gaps. This makes homeownership increasingly difficult for average Nigerians.
Improving Mortgage Access
Mortgages are the easiest path to homeownership globally, but in Nigeria, they are not accessible. To improve access, interest rates must be competitive, processes must be simplified, and government-backed interventions must be strengthened. Developers, real estate agencies, and financial institutions also have a role to play through partnership models.
Addressing the Housing Deficit
RareAcre addresses the housing deficit by designing durable, properly documented, and fairly priced housing solutions. The company prioritizes quality construction, efficient land use, and innovative building methods to ensure long-term value.
Preparing for Urban Population Growth
Nigeria is not fully prepared for the shift towards urban living. Urban planning is still evolving, and infrastructure growth has not matched population growth. Developers who invest in mixed-use communities, transit-friendly designs, and sustainable infrastructure will help manage future demand.
Impact of Rent Hikes and Construction Costs
Uncontrolled rent hikes and rising construction costs widen inequality, make homeownership unattainable, and push families into informal settlements. Rising construction costs discourage development, worsening the housing deficit. Over time, this could strain urban centers, making them accessible only to the wealthy.
Developmental Projects and Middle-Income Housing
Developmental projects in Lagos cater mainly for the upper class due to high land prices, expensive approvals, and rising construction costs. However, through innovative designs, strategic land acquisition, and government incentives, developers can produce more middle-income housing solutions.
Fraudulent Real Estate Schemes
Fraudulent schemes pose a significant threat to investor confidence. They create fear, discourage first-time buyers, and damage the industry’s credibility. RareAcre prioritizes transparency, verified documentation, and ethical practices across its projects.
Future of RareAcre
In the next five to ten years, RareAcre will be recognized for delivering landmark projects across Nigeria. These projects will set new standards for innovation, integrity, and customer experience.
