How Sijibomi Ogundele is Changing Nigeria’s Luxury Real Estate’s Narratives With His Midas Touch

 

Banana Island in Lagos, houses a percentage of the ultra-wealthy in Nigeria, making it the richest square metres in Africa.

A 1000sqm land in Banana Island costs between N600 to N750 million, the same size of land cost N200 million less immediately you step out of Banana Island gate, and in other parts of Ikoyi, the same land size cost N300 million.

Banana Island is home to the wealthy few such as the Adenugas, MDs of Multinationals, Executive Directors, Billionaires and Music Entrepreneur – Davido, to mention a few. Little wonder it is dubbed the haven for the noveau rich in Africa.

Aside from the fact that lands are limited in Banana Island, leading to an increase in the value of the space, Banana Island has been described by Forbes Africa as the 2nd safest place in Nigeria, second only to Aso Rock.

This luxury location is perfect for those who value security and those who are thinking of ROI as the value of properties in Banana Island keep rising.

The most expensive 3- Bedroom apartment in Ikoyi and Eko Atlantic have the basic standard features such as gymnasium, swimming pool,lift and others.

In the Nigeria’s luxury real estate, one Nigerian who has been revolutionising the industry and making it affordable for prospective Nigerians, in the last few years, is Sijibomi Ogundele.

Not a green horn in the luxury real estate business, Ogundele who is only 39 built his company, Sujimoto Group, in just five years, into a Luxury Construction behemoth, focused on building extraordinary edifices in premium neighborhoods of Ikoyi and Banana Island.

With annual revenue of approximately $30 million and many other pending projects, Mr. Ogundele believes the Sujimoto group is worth over $400 Million.

Fondly called Sujimoto, his first entrepreneurial trait manifested when he started a motor bike business popularly called ‘Okada’ from his little savings.

With a resolute and resilient spirit, Ogundele noted that he drew inspiration from his mother’s entrepreneurial spirit and grew his Okada business from 1 to 6 motorcycles and this has continued to push him to always give his best in whatever he does.

After an encounter with the King of Dubai who pushed his ambitious project – LorenzoBySujimoto, from 15 Storey building to a 30 storey building, reminding him that; “To be second is to be last! If people in their 30’s are building 5000 units annually in Asia, 75 units shouldn’t scare you.”

Sijibomi Ogundele, CEO, Sujimoto Group

Ogundele believes in Nigeria. ‘My passion comes from my patriotism. I believe that the Nigeria that produced the MKOs, the Dantatas, and the Ojukwus, also has something great in store for me.”

According to him, the most expensive 4 -bedroom apartments today in Nigeria are in Bourdillon and Eko Atlantic and their prices ranges from $935,000 to $3.5millon which is about N420million to N1.5 Billion, while a 4 Bedroom at the LeonardoBySujimoto is selling for N300million.

“Many people have approached us about building smaller and more affordable units with the Sujimoto standard and we have responded with a revolutionary project called the LeonardoBySujimoto.

“At Sujimoto, we have studied their features and facilities, and what we are building is better than the combination of the two projects, at a steal! For the first time you can own a Sujimoto home (LeonardoBySujimoto) in Africa’s most expensive neighbourhood with as little as N60million (30% deposit) without having to break the bank. No doubt, the Leonardo project is very cost-effective for now but note that the 3 Bedroom you are buying for N250million naira today will sell for 450million by the time we launch in November’ the luxury real estate czar disclosed.

With a dream to revolutionize the Nigerian Luxury real estate space and an ambition taller than the Burj Khalifa, one can only wonder how he has steered his company to survive the brutal economic recessions within the last 5 years, growing stronger, bigger and better, to the consternation of the pessimists.

Sujimoto’s Giuliano project which is 100% covered in travertine stone, fully automated, 1st project with each unit having its private elevator and an award-winning Zaha Hadid Bathroom for Porscelanosa, set the standard for a luxury terrace in Banana Island, attracting clients like MD of multinationals, billionaires and music entrepreneur – Davido.

A stone thrown from the Giuliano; Sujimoto is building what has been dubbed the tallest residential building in Banana Island – the LucreziaBySujimoto.

A revolutionary building, never before seen in Nigeria or Africa! The first building with Glass Reinforced Concrete (GRC) façade, Full Home Automation, private IMAX Cinema for the residents, standard crèche, Indoor Virtual Golf with over 2,500 courses worldwide to play on, swimming pool in the sky and other exciting features. Sitting on the 12th floor is the best penthouse in Africa. A project that sets an enviable standard for luxury residential apartments in Nigeria with a sales value worth $46 and a delivery deadline of December 2021.

Speaking on the Lucrezia, Ogundele noted, “We are building the best condominium not only in Nigeria but also in Africa. The Lucrezia Penthouse comes with a private elevator, private cinema, private golf, private gym, and a private pool! The Lucrezia is very special to us because Sujimoto is divesting from Residential Projects with 80% of our real estate interest into Commercial Projects.”

 

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