Ikechukwu Osita Ifeanunike, founder/CEO of Elite Castle Ltd; a Pan-African luxury real estate firm, and visionary establishment which core space is functional smart architecture, discusses his luxury housing solution
Tell us about your background and the passion that brought your career to life
I am a developer, keen on providing digital state of the art solutions, in architectural advancements, from blueprint to completion. We positively impact purpose-built, revenue-generating real estate market, making affordable luxury a possibility, with a vast knowledge of mortgage investments. I was born in Awka, Anambra State, but was raised in Lagos where I had my primary and secondary education. I enrolled for my first degree at the University of Benin where I studied Anatomy. In alignment with my natural aptitude, and desire for wealth creation, I proceeded to study Business Management at the University of Sunderland, and subsequently obtained a Masters Degree in International Business. I returned home with an excellent blueprint for the Nigerian Real Estate Market, and now I am a pivotal player in the luxury real estate sector in Nigeria.
How were you able to reposition your company to the path of significant strength?
The inspiration to re-position came from the technological enlightenment I got from my foray abroad. I identified a gap, a need for better standards of real estate and luxury development, so I designed a solution and literally worked from ground up. Now, we boast of optimum efficiency and satisfaction in our delivery.
Tell us about your experience in this sector, in the management of your company and the industry in general, especially in view of the two disruptive events of COVID-19 and recent civil unrest in the country?
We had a transcending experience. I say that because, in spite of all the challenges, we grew exponentially in the year 2020. We recorded outstanding increase in revenue, we unravelled digital media as a tool for marketing and this ushered us into a phase of broader and more interactive connectivity, and business conversations that quickly translated to profit. We developed architectural marvels and made sales via virtual negotiations. We doubled staff strength and performance in corporate social responsibility.
Can you share with us what you consider as the most trying moment in your journey to success?
Good things are not cheap and often times, cheap things aren’t good but a lot of developers do not share the same sentiments. I found it difficult to justify why my luxury homes had a price tag of authenticity and the inauthentic developers seemed to be winning, but we stuck to our values and without compromise. We have made a name for ourselves and consequently we have the attention of the perfect target, and now we are winning.
In your own opinion what other qualities do you think are required or needed for a young entrepreneur to make it to the top in Nigeria?
Consistency is key, and a clear vision is also important to make it to the top. The quality of your work must never be compromised. Cutting corners will never secure competitive advantage for you. To gain competitive advantage, give it your all, and all good things will come to you.
What other things can the government do to encourage the success of the local content policy, protect indigenous companies and champion the ease of doing business in Nigeria?
I would opine that the government should learn to support small to large scale enterprise, government should offer loans and grants to citizens who need financing. We need reasonable credit facilities with reasonable interest rates. For instance, 24% interest rates on bank loans are a bit too steep, with the going profit margins in Nigeria. However, we all have a part to play and overall patriotism is key.
