Three Decades in Real Estate: Lessons, Milestones & Challenges with Bidemi Fadayomi

I started my career nearly three decades ago as an architect in a multinational practice in the UK. One of my early experiences was working on a major commercial development in the City of London. That project introduced me to the broader world of real estate investments and ignited my interest in development. Wanting to transition into this space fully, I went back to university for a master’s degree. With my new qualification, I began working in the City of London as a Development Manager, overseeing multiple projects and gaining valuable experience in the field. A few years later, I moved to Lagos, ready to bring my expertise to a new market.

Among my most significant achievements is The Wings, a twin 15-storey Grade A mixed-use development in Victoria Island. With approximately 27,000 sqm of lettable space, it was a complex project with its fair share of challenges. However, working alongside a fantastic team, we successfully delivered what I believe is an iconic addition to Lagos’ skyline.

The Nigerian real estate landscape is filled with both opportunity and inefficiencies. Property ownership is often unclear, creating legal complications that can stall transactions. Infrastructure remains a persistent issue—without reliable roads, power, and water, even the most promising developments struggle to reach their full potential. Financing is another challenge, as access to capital is limited and interest rates are high, making it difficult for developers to execute projects efficiently. And beyond these structural concerns, there is the ever-present risk of fraud, which adds another layer of complexity to an already difficult industry.

Real estate, especially in Nigeria, is not for the faint of heart. For women in the industry, the challenges can be even greater. Due diligence is essential—understanding the market, knowing the numbers, and setting emotions aside are key to success. Building a strong network of professionals—lawyers, surveyors, and investors—can provide the necessary support to navigate this landscape. Integrity is one’s greatest asset in business, and in an industry full of uncertainties, being assertive and prepared is non-negotiable. Managing finances wisely is critical, as the market is unpredictable and requires resilience and a long-term perspective.

Sourcing construction materials is another significant challenge, with volatility being a major concern. Prices fluctuate due to currency instability and import costs, making budgeting difficult. Quality control is another ongoing battle, as substandard materials are widespread. Logistics further complicate matters, with poor infrastructure leading to delays and increased transportation costs. Even as local manufacturing improves, supply is still inconsistent, leaving developers struggling with availability issues. The lack of reliability from suppliers and manufacturers only adds to the uncertainty, making project execution more difficult than it should be.

Despite these challenges, real estate remains an industry full of potential. For women willing to put in the work, there are opportunities to build meaningful and impactful careers. As we celebrate International Women’s Day, I encourage women in real estate to remain dedicated, resilient, and strategic in their approach. The road may not always be easy, but with passion and perseverance, success is possible.

Happy International Women’s Day to all the women shaping the future of real estate!