Sujimoto: Leading the Disruption of Nigeria’s Real Estate Market

Entrepreneurs/Capitalists have always played a vital role in the creation of realities, development of society and growth of people and commerce all over the world for aeons.

From the Middle Ages to the Renaissance, to the Industrial Revolution, and  now during the Information Age, the impact Entrepreneurs have had on the way we live our lives is outstanding.

Their efforts have led to many ground-breaking inventions and numerous innovations across all space of human existence.

They have always dreamed up the world, an ideal or idea, which they doggedly pursue even in the face of harsh obstacles, impediments sometimes conjured up by the society- and when executed brings a new reality to multitudes. They also get enriched. But that is expected for anyone that truly provides values.

From Henry Ford’s ‘T’ model car, to Cornelius Vanderbilt’s Railway Investments, to John D Rockefeller’s innovations in the Oil industry (he conceived the idea for pipelines), to Steve Jobs and Apple’s pioneering desktop publishing and disrupting the Music and Phone industries (through the IPod, and the I phone), to Bill Gates/Microsoft disrupting the computer industry, the impact of entrepreneurs on the overall society has never been a minute one, it has been massive

While the exploits of these titans might not be totally relatable, Nigeria, Africa’s largest country has had its fair share of innovators, capitalists and entrepreneurs who have helped in shaping the country. From the efforts of people like late MKO Abiola, Aliko Dangote, Chief Ade Ojo of Elizade, Folorunsho Alakija, Innoson Chukwuma, Oba Otudeko, several enterprises- and employing hundreds of thousands of Nigerians-have been built, and industries developed due to the vision, resilience and courage of a few.

And as it is with all natural processes, there is always an evolution and change in guards even in entrepreneurship.

And over the past few years, we have had the rise of prominent Nigerian Entrepreneurs, who are championing businesses and enterprises in a way the ‘’Old Guard’’ cannot envision. This group of entrepreneurs are setting new trends, creating new realities, disrupting the status quo and building their businesses in the way only a millennial would do.

And one of this new breed of entrepreneurs is Sijibomi Ogundele, the 33-year-old founder of Sujimoto Group.

Sujimoto Construction, one of the subsidiaries of the group is arguably one of the most innovative/dynamic real estate companies in the country. With their big dreams and visions about how luxury real estate should be set in Nigeria and the development of mega structures like the Medici and Lorenzo, they are sure on the path to actualizing the vision they have for the Real Estate Market.

The Lorenzo project, in particular, estimated to be delivered in 2018, is a 25 storey world-class luxury building equipped with state of the art technology at every nook and cranny, and would be Nigeria’s first truly luxury building.

Early Venture

Listening to Sijibomi speak, the passion he exudes for the grand ideas he has for his company is unmistakeably contagious. A born entrepreneur, he had been reported to have started his first business at the age of 8- a bike transportation company-in Agege. Within three years, the bike fleet had grown exponentially. At which point his father had to shut down the business, due to the ‘’distraction’’ it was causing his son. 

The seeds for the development of his growing empire had however been sown at that stage, and for him as it is for most entrepreneurs-there was no going back. When you taste value creation as an individual and see the rewards of it, it is hard to let go of the vehicle that allowed that: Entrepreneurship.

Tipping Point

In my study of the world’s most successful people: businessmen, politicians, media moguls, sportsperson and writers. There has been a constant in their respective stories, and this constant can be captured in the quote by Isaac Newton:

‘’If I have seen farther than others, it is because I have stood on the shoulders of giants”

Mentorship plays a vital role in the growth curve of most successful people we see today.

Nelson Mandela mentor was Walter Sisulu; Lionel Messi’s was Ronaldinho; David Packard and Bill Hewlett’s (Founders of HP) mentor were Fred Terman, Barack Obama’s was Frank Marshall Davids,  Bill Gates’s mentors are Ed Roberts and Warren Buffet; and Aliko Dangote’s (Nigeria and Africa’s Richest man) mentor was his uncle: Alhaji Sanusi Dantata.

In Sijibomi’s case, it was his encounter with a Japanese national: Sujimoto Koga at the age of 21 when he went to Japan that transformed his life. He said ‘Sujimoto taught me everything I know about business, he made me see myself in a new light, He made me see possibilities’’

Mr Koga had told him ‘’Success is a game and to be successful in the game of success. You must understand the rules and regulations that guide it ‘   and he sure has leveraged on this information to redefine/recreate himself and build one of Nigeria youngest and finest real estate companies.

The impact Sujimoto Koga had on the trajectory of his life prompted Sijibomi Ogundele to name his company after the man who helped in shifting his mindset; after the man who taught him the game of success.

Mentorship relationships are extremely vital in fulfilling one’s innate potential. As a saying goes ‘’ you can’t adjust a frame, when you’re the one in the picture. Having a mentor could, however, help you constantly clarify your vision, refocus your energies and accelerate at dizzying speed on the way towards achieving one’s goals. It sure was the case for Sujimoto.

Pioneering an Industry

When I first heard about Sujimoto Group and its founder: Sijibomi, I had been surfing the internet as I often do to follow up and learn from young Nigerian entrepreneurs who are executing their grand dreams and blazing the trail in their respective industries.

I had heard him speak at an interview at Channels Television, and he had said ‘’His company intentions was to redefine what Luxury really meant in Nigeria’’ This to me was a tall order, but upon researching about the past/future projects of his company, I could see glimpses of what he meant by his statement.

Medici Terraces, one of Sujimoto’s structures in Lagos which was completed in  February 2015 is a set of 22units of luxury residential apartments and one of the finest collections of terrace apartments in upper-end Ikoyi, Lagos, inspired by the all-time architectural revolution – the iconic Medici.

Also, the #LorenzobySujimoto project currently undergoing construction by the company is positioned to be an industry changer in terms of the distinctive and unique features of the building.

The 108 metres tower- inspired by the Ritz Hotel & Apartment- will be situated on 3800 square meters of pure luxury, and will feature: Bullet Resistant doors with Biometric Fingerprint Lock Doors, 5-star restaurants, spa and concierge services, ultra modern gym, a virtual golf course, fitness studios, private jetty for boat owners, virtual golf course and Olympic size swimming pool, deluxe stores (by appointment only), and a rooftop lounge.

The 25-floor tower will be powered by state-of-the-art technology that allows for automation throughout the whole building. And that is an industry first.

 The Lorenzo’s vista bestows breath-taking views of the Lekki-Ikoyi cable bridge, the Bourdillon Boulevard, the Lagos lagoon and the Atlantic Ocean. Little wonder, according to reports the units were sold out few hours after the official unveiling of the project on the 13th of December, 2015 at Intercontinental Hotel, Lagos.

Great Marketing? Maybe! But one reason I can attribute to the appetite of investors’ for the Lorenzo building is that it really does open the vista of new possibilities in the Real Estate sector. It is a REALLY great product.

And after all, a great product will always sell itself.

I for one have always wondered why we have few skyscrapers in Nigeria, and how the lack of monumental structures could be impeding our tourism industry, but with the steps being taken by companies like Sujimoto. I foresee an increase in investors’ confidence in the Nigerian Real Estate Market, and this can only lead to more investment in this space leading to more jobs and value for inhabitants of Lagos, and Nigeria as a whole.

While the company might have grand dreams, the Lorenzo project which will be one of the finest buildings in the country upon completion could be the catalyst that will lead to an increase in the construction of iconic structures that can project the country in an outstanding way to the outside community.

’’Dubai has grown from a city of camel and sands and has become the city of marbles and towers. This is what we can replicate in our country’’ the CEO of Sujimoto Group, Sijibomi, has reiterated severally.

Maktoum Bin Rasheed Al Maktoum (former ruler of Dubai) and his successor and brother Sheikh  Mohammed Bin Rasheed Al Maktoum had government resources and powers to implement the developmental framework that has led to Dubai becoming one of the most visited countries in the world over the past few years.’’

Sujimoto Construction however with their big dreams and grand thoughts, could be the company to help birth and develop those edifices that could put Nigeria’s name on the world map, the way the Sheikh of Dubai did.

After all, it is from thoughts that realities emerges. And like Maya Angelou said: ‘A solitary fantasy can transform a million realities’’

It would admittedly take a lot of work. However, if any Real Estate Company in Nigeria has shown promise and potential to lead a revolution in the industry, Sujimoto Construction (which is coincidentally one of the youngest firms in that space) seems to be perfectly positioned to do just that.

And even while observers might be impressed by the giant strides they have had in their short while of existence. Fingers are crossed to see if they can and will keep up their innovative spirit in terms of structures and execution.

Inception Blues

Building any business in Nigeria is indeed herculean, not to talk of one that involves a huge capital outlay like construction. And the lack of adequate infrastructure that helps businesses stabilize and find their feet in the market has led to the doom of many a promising Start-up.

Sujimoto Construction upon inception according to its CEO, had to source for funds to bankroll some of its projects, however, the finance industry in Nigeria wasn’t too enthusiastic about providing credit facilities for Real Estate projects and this led the company to result to collaborating with some international groups-notable among them being Alhajri Group (A Fortune 500 company), who having been sold on the vision and ideas of the company, committed to being financial partners.

Anybody can start justifying their failures with excuses, however, the resolve to create something greater, the urge to leave indelible marks in the sands of times, has led many entrepreneurs to barge through the hardest of times to build lasting legacies. And this desire to do something great in an industry- is a trait one can see in the person of Sijibomi Ogundele, Sujimoto Group CEO.

A self-proclaimed student of ‘’Dangotism’’ (A case study, a cult or a mythology of Aliko Dangote, which illustrates a business man who has achieved so much with so less). He sure has his sights on redefining luxury Real Estate. And since you sure cannot stop a man with a dream and a burning desire to change the status quo, the real estate industry could be in for some interesting times if Sujimoto Construction can deliver and berth its dream of redefining the space.

Reality and Possibilities

Sijibomi Ogundele when covered by Forbes Africa in 2015 was described:

‘A brave young entrepreneur, set to revolutionize the luxury real estate market in Nigeria; setting standards of excellence and simultaneously expanding his interests in construction, infrastructure, and entertainment, a feat which has positioned him as a man to watch out for in the revolution of Nigeria’s prime real estate industry’’

It surely seems to be interesting times ahead for the Luxury Real Estate Market in the country, as the grand ideas and dreams of major players-notably Sujimoto-in this space can only lead to more magnificent, out-of-this-world, and jaw-dropping structures being constructed.

Hopefully in years and decades to come, the rise and rise of Nigeria’s Real Estate market would lead to Nigeria becoming a tourist hotspot in Africa.

We can only hope the dreams of the dreamers in this industry see the light of the day.

 After all like Paulo Coelho said in The Alchemist: It is the possibility of a dream coming true that makes life interesting.