Nigeria real estate sector poised for transformation – BUILDMACEX

…to unveil 2025 state of industry report

The Nigerian construction and real estate industries are entering a new era, defined by growth, innovation, and urgent challenges, says building construction and machinery expo (BUIlDMACEX).

According to BUILDMACEX, infrastructure spending, energy projects, housing demand, and a rising urban population continue to propel the sector forward.

This trajector is coming despite soaring inflation rates in the past and challenges around financing and regulation, there is strong momentum.

Accordingly, it is stated that Government-backed initiatives, increased public-private partnerships (PPPs), and projects like the National Integrated Infrastructure Master Plan (NIIMP) are positioning construction and real estate as central pillars in Nigeria’s economic transformation.

This was contained in a press statement made available to BusinessDay ahead of the full launch of the 2025 BUILDMACEX State of the Industry Report.

“The full report, which highlights the future of building in Nigeria will be made avaiable to all stakeholders. We offer stakeholders a glimpse into a sector that is not only driving Nigeria’s economy but also laying the foundation for its future.

“This isn’t just a data-driven report. It’s a timely exploration of the forces shaping construction, architecture, real estate, and infrastructure across Nigeria and West Africa,” Olajumoke Azeez, sales and exhibition manager, Atlantic Exhibition, said in a statement.

According to BUILDMACEX, the built environment is a $140 billion industry on the move. The construction sector in Nigeria reached a market value of approximately $140 billion in 2023.

The sector is projected to grow annually at 6.4% from 2025 to 2029, reaching over NGN 35 trillion.

According to BUILDMACEX survey on emerging growth areas and investment pqotential, 76% and 64% of respondents identify residential and commercial construction as the fastest-growing sub-sectors, respectively.

The survey also indicated that increased focus on tech-enabled development, 5G rollout, and digital transformation are among the smart cities and digital infrastructure within the sector.

It also indicated that affordable housing projects and environmental, social, and governance (ESG) compliance are rising priorities in the construction industry.

The sector composition based on key report highlights indicated that construction professionals represent 47.7% of respondents, followed by architects (27.7%) and real estate developers (20%).

While growth sentiment indicated that 93% of surveyed stakeholders report moderate to strong growth, confirming a healthy and active sector.

However, inflation and high costs were cited by 90 percent of respondents as some of the top pain points.

Lack of skilled labor 40%, access to finance 38%, regulatory hurdles 28%, and supply chain/logistics issues at 26% are also identified among the top pain points.

According to BUILDMACEX, the data reflects an industry full of opportunity but also facing significant headwinds that require innovative solutions and cross-sector collaboration.

“The Nigerian real estate market is dynamic and increasingly sophisticated. With a projected CAGR of 6.1% between 2024 and 2030, the sector is expected to reach $137.8 million by 2030.

“Residential developments, luxury apartments, and commercial real estate projects are booming in key cities like Lagos, Abuja, and Port Harcourt,” BUILDMACEX said, classifying real estate in Nigeria as a rising force.

Notable trends in the sector include short-let property demand; PropTech adoption and digital property platforms; affordable housing investments, and smart building and sustainability integration.

The forthcoming BUILDMACEX State of the Industry Report will present detailed industry trends, investment insights, policy recommendations, innovation highlights, and profiles of key players in the ecosystem.

The report is coming ahead of the BUIDMACEX exhibition scheduled for April 22 – 24, 2026 at Eko Hotel and Suites, VI, Lagos.

“We invite professionals in architecture, engineering, construction, real estate, technology, and public policy to stay tuned as we unveil the complete 2025 State of the Industry Report.

“The findings will inform business decisions, shape investment strategies, and drive dialogue across the built environment.

“The construction and real estate sectors are not just growing — they are transforming. BUILDMACEX is proud to lead that conversation.”