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With Covid-19 grip gradually rolling over, Damilare Baker Projects is more optimistic about Nigeria’s Real Estate future

Covid-19

Undoubtedly the effect of Covid-19 can’t be overlooked as it crippled several businesses and halted several projects but with a rapid relief of its hold several industries are fully in forefronts of it’s mission.

Damilare Baker Project since inception has always defined itself to be exceptional, excellence driven and attest to accountability and assurance of top notch services provided to its clients. The firm lead by the Creative Mind of Laolu Alabi has seen to several projects meeting the demands of Nigerians seeking housing that meets every aspect of quality and excellence.

Speaking on the effects of the pandemic, Mr Alabi stated that, “I believe one of the biggest effects for most was cash flow and of course time delay. A lot of people temporarily couldn’t meet up with their planned payments.

Then there was the immediate increase of almost 30% in cost of materials, which was also traceable to the pandemic. Project timelines where greatly affected especially seeing there were limitations to the number of individuals allowed on construction sites by regulation of the government while trying to curb the spread of infections.

On the other hand, there was also the realization that certain spaces had become very important in houses. Chief of which is the home office or study. This also made our properties become quite popular and attractive as every of our development even pre-pandemic always catered for such spaces as we had always tried to give buyers complete value for their money, by always giving that little extra.”

The firm strives to deliver projects with high level standards employing innovative means and cutting edge technology in the delivery of same whilst at the same time ensuring timely delivery of all their projects and satisfying optimally their clients and subscribers at all times. In addition to a wealth of experience and accomplishments the firms plays in the real estate industry armed with both technical and commercial knowledge of the built environment.

Managing the pandemic and remaining balanced despite the high cost of materials, the CEO reveals that, “So on the Cost side of things, as a practice, we often try to lock down prices to a large extent from the beginning of projects. So we warehouse a lot of things that we believe have the propensity to increase abruptly in prices especially material (Mostly finishes), which were directly related to the dollar rate in the market. This proved to have been a good move when the pandemic struck and it cushioned in no small ways the effect of the sharp spike in prices of materials. Of course, going this route has its own cost but in the long run, if one is able to, from experience, it always pays off.”

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