THERE’S A NARRATIVE I WANT TO CHANGE IN THE REAL ESTATE INDUSTRY – JOEL IKECHUKWU AKOR | Prestige Real Estate News 

Mr. Joel Ikechukwu Akor is vastly experienced, thoroughbred and highly trained real estate practitioner cum entrepreneur. He is the Managing Director and Chief Executive Officer of Climax Properties Consult Limited, an extremely reputable company dominating the property and real estate sectors from Port Harcourt, Rivers State. Having worked assiduously and meritoriously at different topnotch real estate companies, the ebullient and effervescent CEO of Climax Properties delved into the value-chain with the sole aim of providing the most affordable and comfortable shelter to Nigerians, imbibing the Godly values of dignity, transparency and integrity. Today, his real estate company CLIMAX PROPERTIES CONSULT LIMITED remains one of the very few that could be trusted and relied upon for the provision of habitable shelter to its clients. With several of the company’s estates scattered across Port Harcourt , Climax Properties Consult Limited is spreading it’s tentacles to other notable entities like Lagos, Abuja and Owerri. According to Mr. Joel Ikechukwu Akor, the company is determined to set a formidable record of impressive achievement in the African real estate value-chain. In this exclusive interview with the Editor of Pan African International Magazine, Ikechukwu spoke vividly on his company, his intentions, dreams and aspirations for anticipating Nigerian property and home owners. Enjoy the excerpts:

Can you tell us about yourself?

I am Joel Ikechukwu Akor, the Managing Director of Climax Properties Consult Limited based here in Port Harcourt, Rivers State.

Please tell us more about Climax Properties Consult Limited?

Climax Property Consult was registered in the year 2019 of which we started operating fully three years ago. Right now, we have three locations of our estates. One is called Climax Court, the second one is Maximillan and the third one is called East Lake Garden Estate. The three of them are basically here in Port Harcourt and by the grace of God, we are looking forward to storm Abuja. Lagos and Owerri. Hopefully, Lagos will be up by November 2024 and Abuja by February 2025 while thirdly, we are looking forward to enter Owerri by the same February 2025. So, that is why we are working all round the clock, me and my team, my staff to ensure that we achieve all our aims.

Can you tell us how you ventured into real estate business and have you worked in any of the foremost real estate companies?

Yes..am honoured for this question. One of the things I always say is that I am so grateful to God that created me and am equally grateful to my late dad and my mum because though yes, I worked with so many real estate companies, like two or three of them but I worked with one fully and basically for like five years from where I registered Climax Properties Consult in 2019. I was a branch manager in Owerri then before I got married and decided to come back to Port Harcourt to set up fully on my own. So, since then, it has not being easy. You know, everything that God destined a man to succeed on is not always being rosy. Yes, you must pass through a lot of challenges along the line in the sense that you may pass through good things and bad ones and if the devil knows that one is going to achieve in anything, he will always come up with different temptations to know how strong you are. So, definitely I would say it has not being easy but I will thank God for the level I am today, for the stage I am and for the stage am about to go to.

Looking at real estate business in Nigeria today and judging by the mushroom companies we have, do you think we are doing the right things?

Honestly speaking, I can say that when I was working in my former company, there is one narrative that I always say that I would love to change. The narrative is this, I didn’t go into the real estate sector just because I want to make the money, one thing is before you venture into something, first of all find out, is this your passion that you are going into. Number two, a lot of people just go into real estate because they can see it’s easy to make much money. Maybe somebody just tell them, please do this thing, you can make money. No, for me, I went into real estate because there is one particular narrative and that narrative is this, somebody who save two to three, to four, to five, to multi-million naira to buy property. Let’s assume a lot of people want to make an achievement at the end of the year and he saved from January to December to achieve that, he now contacted a real estate company to buy a property, but at the end of five or six years, that person has not seen the portion of which him or her paid for, its sad. That’s some of the reasons I came into the real estate business that whoever is buying from Climax Properties Consult Limited, one, not only that you are going to get your land, if I promise you that this is X,Y, Z that am going to do inside that estate, I will make sure that I try as much as possible to do what I promise you and I will try as much as possible that you get what you suppose to get in that estate. It may take me time but I will ensure I fulfill that and that is why I ventured into real estate, to change the narratives. A lot of people will say, men, am cashing out. No, it’s not all about the cashing out, its all about integrity. It’s better for you to get that integrity and be honest no matter how long its going to take you; let it be that at the end, somebody trust your company. Let then say, I can recommend somebody. The real estate industry is about recommendation. If somebody promised X,Y,Z and at the end, he achieved that X,Y,Z , people will say, guy, go to that company and you’ll achieve. There is one particular project me and my team are working towards now. We are working towards even though you are in abroad, any country you are, you can equally go into our website, take your own plot number directly from our site. That’s one thing that I am looking towards and not only that, you will be the one to choose your own plot number. When you choose it, then the link will drop for us to see that you have chosen the plot of land you want to use.

So, that’s the area we are going into, that would make people in diaspora to easily buy from us and follow up with the company’s activities . For us, it’s not all about the money but am happy about the little we too will make at the end of the day. There is one other important thing, when it comes to my background, because I come from a Godly family, I came out of one of the poorest families in my community. So, I am somebody that has suffered a lot, crossed a lot of boundaries and passed through a lot of stages in life. So, when you see somebody giving you a million naira, at least, you need to protect that person’s million naira and protect that person’s interest. Whether the person is far, whether the person is near; because a lot of people would say, this is my client, he’s based in the USA, you don’t know what that person is doing in the USA and so, if he send you no matter how little and no matter how big, you need to protect that little or big because through that, he or she can recommend you for another person based in Canada or elsewhere. So, that’s me for you, that’s what am out to do and always love to do not only to make money, but this is my own passion. When I was like 5 to 6 years old and we all want to say I will like to be this, I will love to be that, I always tell my friends that, this my background, I will love to change it and that is one thing that I’ve been working with and I also believe that making it in life is all about you, not your family background or your country. You are the one that will make things happen for yourself.

How would you adjudge real estate in Port Harcourt because there are lots of real estate companies here and what are government’s contributions to ensure that the people of Rivers State have decent accommodation?

Well…all I can say is that, one the government is trying as regards the road because in real estate, the first thing is to have a good road, people will love to invest. So, the government of Rivers State is trying in that aspect. Number two, I will like to say that real estate companies in Port Harcourt are passing through lots of hell in the sense that there is one group that call themselves ‘land grabbers’. If you are not careful enough in Rivers State, you’ll lose millions. I am just coming out of one which I’ve lost a lot and it’s not about you an individual that wanted to buy a property in Rivers State. If you are buying a property in Rivers State, you need to ask questions about the company, you need to first of all, as an individual who wants to buy land, demand for the documentation, the verification and find out the title of the document, which title of the document that the property have. So that tomorrow, government will come there and say that this particular property is wrong. There is where we call Greater Port Harcourt. You can’t just go and buy property in Greater Port Harcourt unless you are part of companies partnering there. I equally look up to being a partner of Greater Port Harcourt. If as an individual, you buy property in Greater Port Harcourt and you did not partner with a company, you’ll have a lot of problems there because tomorrow, the government will take the place and there is what we also call ‘omo onile’. So, if you don’t do your thorough research well, you will still fall victim of ‘omo onile’ or you fall a victim of a proposed road for Lagos State.

I know a lot of people in Lagos State likewise in Port Harcourt who have lost their properties to proposed road which they didn’t go the ministry to find out that, which and where the interest of government will come from because the location, is it where they will say okay, that the track road will later be turned to major road to Owerri or maybe to Aba. So it’s one of the things that you first of all need to go and verify. So, real estate business in Rivers State is run by grace. Though people say a lot of companies are living Rivers State because of insecurity, but we are trying to make the people both at home and in the diaspora to know that it’s not about what they hear. That’s why we as real estate developers, we create that chance that you can buy, not just say you can buy from individuals or the community, but you are buying in a developed estate, an estate that will be organized in the future. Now, somebody who buys a property of N500,000 and by the grace of God within three to four years, if the estate do what they promise, and plan the estate well, in the next five years, you won’t get that place for less than 5 million naira. So, for me, in Port Harcourt there is a lot of challenges but we thank God that the government is equally helping us to have good roads, they are doing their best in that. So, I will say to those that are willing to invest, that Rivers State is safe.

Can you tell us some of the challenges you have gone through as CEO of Climax Properties Consult Limited and what can be done to those challenges in the part of the government and your association called REDAN?

At Climax Property Consult Limited, we passed through a lot of challenges from November last year. Earlier, we bought a property of over 300 and 400 plots of land which if the REDAN are doing their work well, one of the problems we have in Rivers State is community, let’s be honest. You find out that one community will to you that they are the owners of this place and at the end you find out they are not the owners of the place. So, we bought over almost four hundred plots of land, which most of our investors have invested a lot on. Of am not mistaken, we lost quite a lot but I decided to loose instead of my clients because it’s better for me to lose profits than my investors lose their sweats. I lost over three hundred million naira in that property. I made sure I protected my clients, protected my investors. Just like I mentioned, if so called REDAN is working effectively, a lot of us real estate practitioners in Rivers State will not have any problem. Mostly in Rivers State and Nigeria as a whole, it’s all about who knows who. Now, we have a new Chairman in Rivers State, but even my people that normally attend their meetings will say its only them, them. If you are not Jagaban, nobody will recognize you. So, I find out that, this one they are trying to say is my own name, for me I don’t drag name or position. I always like to do my own thing quietly, and when it comes to challenges in Rivers State, to be candid, we are facing hell. Communities and families are part of the problems, because before you know it, you’ll be paying two families at a go. Before Mr. A goes far, Mr. B will come to you and all these land grabbers will also come out. So, when you think of all these, the business will discourage you and when you hear Rivers State, ahhh, no go area. But, its just by the grace. Me, personally am just coming out of that shock you know, loosing multi million naira like that as a businessman is not something anyone prays for. God so kind, I did not borrow any money from any bank. Most of the oil companies that have their headquarters or branches in Port Harcourt and at the end, security for their staff become problem and the same community hosting them will push them into problems. So, some of these oil companies relocate their head offices to Lagos while their operations remain in Port Harcourt. So, my brother, I won’t lie to you, its not been easy at all.

What advice do you have for people based in UK and USA amongst others who want to invest in real estate of Rivers State?

Just like I mentioned before now, the first thing you need to do is proper verifications. That is why me and my team are putting up a structure that even when you are in abroad, you can verify some of our things. There is what we call goggle link. We are trying to see that all of our estates have goggle link. You just go there, you’ll see the goggle link of the estate. We are working again to make sure that you can choose your particular plot. All you’ll do is fill up your name, fill up the plot number you are choosing, you’ll see the ones that are available and you’ll see the ones that are not available. Fill it and send it to our official email and we’ll now send you a verification detail and our price for whoever wants to invest in it. But sadly, a lot of funny things do happen in the ministry of lands and so, if you are doing the first phase of the verification, find out about the document. Get a lawyer for the processes and when your lawyer says yes, you can go ahead, first of all make sure that if they tell you one month for your documentation, I always follow Ashimolowo in Lagos. He’s always the kind of person I love to be like. He gives you one month for your documentation and that one month, you are getting it accurately. You need to give your client the right impression to meet up with deadline as regards documentation. Some people based in abroad have bought property in Lagos for four years now without seeing them and their families don’t even know their portions and some of them bought that property not less than 20 to 30 million naira. So, imagine some people who work for five times in overseas to make sure they make cool cash and at the end, he or she struggles to send cash to an organization and at the end, the person could not get what he or she wants. It’s very unfair.

What is your advice to the government of Rivers State to make sure that there is affordable housing for all individuals in the state because Nigeria has about 3.2 million housing deficit as we speak and that is why real estate companies are needed to bridge the gap. So what do you think the government can do?

Okay, the area I feel government should come in is assisting us to get our documents like our C of O and in Rivers State, we find out that a lot of godfatherism are some of the things that cause serious problems like over some months now, from the Ministry of Lands, the head there has a lot of works tying down in the ministry. So, if he knows that this particular document, they can make money from it, they will find a way to see how they can sign that one. So, government can assist us and ensure that we, real estate companies can easily get our documents as early as possible. A lot of C of O documents we are waiting for are signed but not delivered to us. A lot of clients want to buy properties with good title, good location but if you don’t have good title earlier, its futile and they will dump your company and look for the one that has good title. Therefore, government should help new comers like us to get our documents as early as possible so that our clients will be able to patronize us better.

Three years down the lane as a real estate practitioner whereas some have been in the business for twenty years and above yet they have not achieved like you. What’s the secret?

Well…well…well… upon all the challenges though, I can say we give glory to God and I equally thank God not only that am alive but I thank God how far He is doing things. Its not by power to be honest, but just like as I said, there is one narrative that I want to change in the business. By the second week of September, we shall be launching one of our biggest estates in Port Harcourt which we are looking at over two to three hundred units of duplex and it’s a very massive project which is going to be the heart of Port Harcourt. So, I just thank God for being faithful to my life and all the lives of staff of Climax Property Consult Limited and all our families. So, it’s simply just the glory of God.

In foreign lands, there is this collaboration between real estate companies to inject development into their countries’ economies. Is this available in Nigeria?

All I can say about that is that we do collaborate too. Now, the problem we have in Nigeria is this. We are selfish. This company wants to maintain its status while the other one wants to rate itself higher than the others. Supremacy battle! Hypocrisy is another major problems with real estate collaboration in Nigeria . In organization like this, there is what we call partnership. When you have 100 million and I have 300 million, let us see how we can erect a very big project and in the period of three years, we make our huge money and share it but sadly, at the end, the same people that combined to do the project and share the money will end up fighting for the money. That’s one of the problems, it’s not that we can’t do it, we can. It’s not that two or three of them cannot be honest enough, but one will still stand out as a Judas. Collaboration is good for this business but in Nigeria, every practitioner wants to be on his or her own.

But what can be done to tackle this. At least, how about the input of REDAN?

Whether we like it or not, REDAN cannot even do anything about it. But, if I see honest people I will like to work with. For instance, I went to Abuja for something else but I decided look around, I was able to make good contacts and now am going to Abuja to make a partnership.

As the chief visioner, where do you see Climax Properties in the next 10 years?

Well… in the next ten years, I will tell you comfortably that I will be in three or four states which is Abuja, Lagos, Owerri (Imo) and Anambra. That’s my target. Though am from Enugu State but for now am looking at Anambra. Now, within five years and with these four locations, am equally looking at impacting on people’s lives which in these four locations, we’ll be able to say Climax has raised two or three millionaires, people that have made good money for themselves. We are looking at, in the next five years, we create a name that we will be doing business with the government. Then in the next 10 years, am looking forward to say that yes, Climax has its head office in the US, UK or Canada. So, that means within the next five years, Climax should have achieved within Nigeria but in the next 10 years, we are looking forward to having offices in the international world (US, Canada or UK).

As a busy businessman, how do you rest and how do you manage your family?

(Laughs)… Way back then, I always hear people saying this boss is not always picking his calls and all that or my husband is not around and all sort of excuses but I thank God that my wife knows that this is one of my passion. It’s not easy to manage all but one thing I will say is that I have a good manager and a reliable team at the office and my wife is a very good and understanding woman. My team is working so tirelessly even though am not around, my wife make sure that everything is in order and manage things properly. But to be honest, now am beginning to understand more of the job, it’s not easy. However, the kind of woman you married speaks more about your ability to cope with these challenges. One thing I also come to realize is that if you as a businessman does not face challenges, have it in mind that you are not doing well but if you are facing challenges, then it means you know where you are going to. So I will say it’s just by His grace that I am managing it and I believe God will continue to give me that grace.

Your advice to the youths and words to those who will read your interview online and on the magazine?

Okay… coming into that, one, I will say, any young Nigeria who have that privilege to attend a secondary school but whose parents were unable to send them to the university, I want everyone to know that you go to the university to have more knowledge. But if the University is the only avenue that can guarantee success, then someone like me should have made it where I am today because I did not have that opportunity many children had then. So, my advice to young Nigerians is that if you have that privilege to acquire good education, don’t wait for anybody, whether the Nigerian government or your uncle because even your uncle can disappoint you let alone the Nigerian government. At times, your parents may not be able to send you to school the ways they wanted. You can’t kill them because they are your parents. You can create your job by yourself. I find out that people are now exporting charcoal and making good money in dollars while many Nigerian youths look down on such businesses.