Lagos To Benefit As Daewoo Plans To Invest In Housing, Real Estate In Nigeria

The Daewoo Engineering and Construction Nigeria Limited has disclosed its plans to invest in housing, real estate and infrastructure in Nigeria, with Lagos State identified as one of the major investment areas.

The group chairman of the company, Jung Won Ju, made the disclosure on Monday when he led the management team of the company on a courtesy visit to Governor Babajide Sanwo-Olu at the Lagos House, Ikeja.

Ju said Lagos was identified as one of the major investment areas because it is the economic capital of Nigeria.

Reiterating what the chairman said, the General Manager, Contract and Business Development of Daewoo Engineering and Construction Nigeria Limited, Adekunle Ilesanmi, said the company has over 40 years of commitment in Nigeria.

He said: “We are going to be investing in housing, real estate and infrastructure. Daewoo has over 40 years of commitment in Nigeria. We are trying to increase our investments in the country and Lagos has been identified as one of the major investment areas because Lagos is the economic capital of Nigeria.

“The chairman is willing and has assured Mr. Governor that we will make that commitment in a short time, especially in the real estate and housing.

“It is very commendable to see Lagos State accommodating a lot of investments and giving an enabling environment to all the investors coming in and ensuring that there is a return on investments. That makes Lagos attractive because when you invest here, you are sure of a return on your investment. The government is going to support you to be able to have a return on your investment.”

Responding, Sanwo-Olu assured investors that his administration will create an enabling environment for investments and businesses to grow in the state.

He said the state government is ready and willing to partner with Daewoo in automobile, real estate and technology.

He said: “The relationship between South Korea and Nigeria dates back several decades and we all know how the Daewoo Industry is worldwide. We are aware of your strength and capacity. Lagos is ready for business and it is open for new investments. I know Daewoo Nigeria has been here for a while but this is an opportunity for you to take that relationship to another level.

“So, on this your visit, don’t let it just be a visit to show; let it be a visit of commitment and real partnership. Let it be a visit where there will be real transactions on the table that both of us can take away.

“We are here to create the enabling environment for investments and businesses to grow. So, whatever you need from our side for your investments within our means, you can be rest assured that we are willing to do it for as long as we see a mutually beneficial relationship.

“Our city is open. We are ready and willing to create that partnership with you in automobile, real estate and technology because we have a very strong and capable youth population that is dynamic. They are very professional and they are ready to work.”