Nigeria’s Real Estate Top 3 Titans: The 2024 Wealth Report

Nigeria’s booming property market has minted a new generation of real estate moguls. While the fortunes of these tycoons may not quite reach the dizzying heights of the nation’s oil and cement magnates, their influence on the country’s urban landscape is undeniable.

Leading the pack is the enigmatic Sir Clement Oluwatumininu Okeowo, with a staggering net worth estimated at $800 million. Okeowo’s property empire spans residential developments, commercial spaces, and luxury hotels, making him a dominant force in the sector.

Following closely behind is Oba Adetola Emmanuel King, a traditional ruler with a shrewd business mind. King’s wealth, estimated at $80 million, stems from his strategic investments in high-end residential properties across Nigeria’s major cities.

Rounding out the top three is Jide Balogun, the CEO of Primrose Development Company. Balogun, with a net worth of $55 million, has been a key player in shaping Lagos’s real estate landscape for over three decades, specializing in high-quality residential developments.

The remaining spots on the list feature a diverse range of entrepreneurs, including Prince Adetunji Ogunwusi ($40 million), who leverages his royal connections for strategic land acquisitions, and Udo Maryanne Okonjo ($40 million), a shrewd investor with a focus on developing student housing facilities.

This list highlights not only the financial rewards of Nigeria’s real estate sector but also the growing role of strategic development in shaping the country’s future. As these real estate titans continue to invest and innovate, Nigeria’s urban landscape is certain to undergo a dramatic transformation.

This list provides a general snapshot of the top players in Nigerian real estate.


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