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5 Reasons Why Owerri Is The Most Lucrative SE City For Property Development - Properties - Nairaland

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5 Reasons Why Owerri Is The Most Lucrative SE City For Property Development by BiafraIShere(m): 2:06pm On Oct 30, 2017
There is no doubt that Igbos have the largest concentration of middle class Nigerians and have been investing heavily across Nigeria. Cities like Lagos, Abuja, P.H, Jos etc have seen such massive investment and at one point, the then minister of FCT and current Kaduna state governor, El Rufai raised alarm that Igbos were fast buying up Abuja based on the records of C of O that were being issued to developers. However with the recent political tensions in Nigeria and the rise of ethnic nationalism, the Igbos are now investing more at home than ever before and this is obvious at the rate the Eastern cities are expanding. Among them is Owerri that has witnessed such huge expansion in recent times that adjoining towns have been consumed to form a sprawling metropolis. Below are the reasons why Owerri is the most sought after city in the East today in terms of property development.
1. Owerri is a nodal town: the city is so centrally located that it is just a few tens of km between it and other major urban centres like P.H, Aba, Onitsha, Enugu etc.

2. Serenity: unlike the notorious traffic jams as seen in P.H, the chaos of Aba, the noisiness of Onitsha etc, Owerri is just like an oasis in a desert--quite, serene and fun with a good night life.

3. Fairly good infrastructure: Owerri has relatively good roads especially in the city centre and hardly experiences flooding (flash floods that occur during heavy rainfall disappears immediately the rain stops). Street lights are functional and the city is neat although not as before when it ranked no1 in Nigeria.

4. Rent is expensive: after P.H, Owerri is the next most expensive city to live in the whole Eastern Nigeria (including the four SS states). This could be very annoying to the tenants while the landlords are smiling to the banks, who would blame them when we operate capitalism.

5. Tourism: this is an offshoot of it being serene city, Calabar used to be the center of tourism but it's obscure position at the fringes of Nigeria's border with Cameroon has dealt a heavy blow to its tourism potential while Calabar carnival is what is now left but Owerri by virtue of its central location is now the number one and with the building of large capacity conference centers and world class hotels, it looks good to further cement its position at the top.
Re: 5 Reasons Why Owerri Is The Most Lucrative SE City For Property Development by BiafraIShere(m): 2:09pm On Oct 30, 2017
Even lalasticalla knows this fact.

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