Veritasi Properties’ Adetola Nola on opportunities in Nigeria's housing market

Veritasi Properties, led by CEO Adetola Nola, has been making waves in Nigeria's housing market by capitalizing on the burgeoning demand for residential properties in Lagos. Nola recently sat down with CNBC Africa's Kopano Gumbi at the Forbes Africa Under 30 Meet-Up in Johannesburg to discuss the company's success and innovative marketing strategies. With Lagos experiencing rapid growth and development, the real estate sector presents abundant opportunities for investors and developers like Veritasi Properties. Nola shared insights into his journey into the real estate industry, recounting how a chance encounter with a mentor led him to transition from marketing shoes to marketing properties. His passion for real estate was ignited, and he soon delved into property development, starting with smaller projects that gradually scaled up in size. Currently, Veritasi Properties boasts a portfolio of seven projects in Lagos, with the Clarity estate in Lekki standing out as their largest and most impressive undertaking. One of the key differentiators for Veritasi Properties has been their innovative approach to marketing, combining network marketing with real estate sales. Nola emphasized the efficiency of their multi-level marketing strategy, which has enabled them to sell properties within remarkably short timeframes. Unlike many competitors whose projects linger on the market for extended periods, Veritasi Properties has consistently sold out their developments in as little as three to six months. This rapid turnover not only reflects the strong demand for their properties but also underscores the effectiveness of their marketing techniques. In a bustling city like Lagos, where construction projects are a common sight, standing out from the competition is crucial. Nola's competitive spirit drives him to constantly innovate and challenge himself, pushing Veritasi Properties to new heights. He highlighted the role of a talented team in staying ahead of the curve, with regular strategy sessions to identify opportunities and reclaim market share from competitors. Veritasi Properties' success story serves as an inspiration for aspiring real estate entrepreneurs, showcasing the power of innovation and determination in a dynamic market like Nigeria. With Nola at the helm, the company continues to redefine the standards of real estate development, setting a high bar for excellence and customer satisfaction.