London, United Kingdom, September 02, 2017 --(PR.com
)-- The Nigerian real estate and hospitality industries have attracted investors for many years now and multiple new developments and refurbishments are taking place; meaning lots of exciting projects for local designers.
One of the most exciting builds currently underway is the Eko Atlantic development; a new build city modelled on metropolises such as Dubai and Abu-Dhabi. This multi-million dollar development will contribute 10 million square meters of new residential, commercial, retail and recreational space and be home to a number of new hotels, including a 500-key 4-star hotel and resort.
Omon Anenih Mordi, CEO of Blue Mahogany and advisory board member of home décor & giftware Nigeria is working on this project: “We are working on commercial offices and a restaurant in the desirable Eko Atlantic development, as well as a Boutique hotel in Abuja’s central business district. Other current projects include over 1000 square metres of office space in the prestigious Wings building in Victoria Island, Lagos.”
Other notable developments in this sector include the upgrade of Starwood’s Le Meridien Hotels, Marriot International’s proposed multi-million dollar investments in the subsector, the entry of Sheraton’s Four Points into Akwa Ibom State, the expansion of Hilton into several cities in the country and the recently opened Grand Pela Hotel, part of the growing BON Hotel chain Nigerian portfolio which currently stretches across half the country and includes hotels in Abuja, Warri, Ikeja and Victoria Island, with three other properties currently under construction and due for completion in 2018 (Nigeria real estate industry outlook 2017 report).
The market opportunities for suppliers to this industry have remained abundant and exports to Nigeria are staggering: Furniture imports and clothing and accessory imports have, despite a recent economic downturn, continued to stay high at $250 million and $763.3 million per annum retrospectively (worldstopexports.com) with $153.8 million worth of furniture imports from between 2014 and 2016 coming from China alone (International Trade Statistics - ITS).
Despite these huge figures, local buyers still have difficultly sourcing the variety of products they need to produce cutting edge designs: “Availability of good quality, good value, design-led products locally, has been a huge challenge.” - Omon Anenih Mordi, Blue Mahogany.
In a bid to bring the latest in international design to this massive market, the African Association of Interior Designers (AAID) and Interior Designers Association of Nigeria (IDAN) have teamed up with exhibitions organiser Clarion Events West Africa to bring about home décor & giftware Nigeria, a b2b buyers fair.
“For the past 12 years I’ve planned my annual holidays around design week in London and made sure to visit shows like Pulse, Top Drawer and Home & Gift as often as my schedule and air fares would allow. I was elated to hear that Clarion events would be coming to us this time. There is such a huge market out here and this says to me that finally, Nigeria truly is a part of that Global village we all talk about.” - Omon Anenih Mordi, CEO of Blue Mahogany
Many key industry stakeholders and buyers form the home décor & giftware Nigeria Advisory board and look forward to attending the exhibition holding 14 – 16 November 2017 at the Landmark Exhibition Centre, Victoria Island, Lagos, Nigeria:
“It is a known fact that Nigeria is a leader in Africa as far as home, décor & giftware is concerned: There is a lot of market potential and there also exists a huge and unending demand for homeware, furnishing, interior décor, textile and gift products. We strongly believe that this exhibition is a long awaited opportunity for the industry.” - Obinuga Olubunmi Samuel, CEO, Vibrant Interiors Limited.
To find out more about how to exhibit, check out the latest advisory board or read more on the market potential visit: www.homeandgiftnigeria.com/moreinfo or call +44 20 7384 7952.