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Property developers target Gen Z's

Dutch/Nigerian Property developers, Kairos Hof Consultants Limited is targeting Gen Z's in the development of their new apartment buildings in the country.

Director Business Development and Technology, Ojehomon Anetor said 18, 19 and 20 years old in Nigeria are now purchasing properties in the country but their tastes and choice of homes are different from that of the older generations.

He said a lot of Gen Z's in the country work for International organisations remotely and earning enough money to own properties but their problems lie with the specifications of housing in Nigeria which are in most cases not built for their tastes.

Anetor said this yesterday in Abuja at a press conference and official signing of a joint partnership agreement with other organisations on the housing initiative targeted at young professionals and entrepreneurs.

He said: "From our experience of what housing is like outside Nigeria we have been able to design a concept that fits our cultural values and understanding that gives you a clear concept on what you need to provide for your clients, especially the Gen Z's because their demand for housing is different from what you currently have, so we want to ensure that whoever is buying a house buys that which gives them the right form of comfort.

"First of all the project is targeted at young people who already have a source of income, we have equally a lot of young people who are not in the regular career bracket that we are used to, we have a lot of people working remotely in Nigeria.

"Now you find a lot of people 18, 19, 20 years old already working for international companies but live here In Nigeria and the only thing they need is fast reliable Internet, 24 hours power and a comfortable space to carry out their work. There are a lot of remote workers living in Nigeria, with places like Abuja and Lagos having the largest number and they earn very good income and can afford properties but their appetite for properties is not the regular one that the older people might be interested in.

"Some have not started having families so they are not looking for very big houses but apartments that are serviced and comfortable. Some of these buildings might be high risings or not but in most of such apartments you find the ground floors being used as restaurants or gaming rooms and thereby encouraging the occupants to network with each other and build the kind of communities they need.

"This is what living has become globally and this is what is appealing to mostly for the young people and even some older people."

Managing Director, Kairos Hof Energy, Olagoke Fagbohun said in terms of deliverables, they are starting with 17 block for the first clusters. The 17 blocks of five story buildings would provide approximately a 100 plus apartment building.

He added, "In terms of making sure people enjoy the quality we are trying to provide, what we simply do is to make sure the information is out there. And what this means is that we are going to do a lot of publicity about it, we are willing to come to any forum or fora to speak about it and also invite people first-hand to come and see what we have going."