Who Exactly Is a Property Developer and Why Should You Care?
A property developer is the company or individual responsible for acquiring land, planning, building, and delivering homes or commercial spaces to buyers. In Nigeria, they play a critical role in shaping real estate communities. From architectural design to construction and handover, a developer carries the vision and responsibility of turning land into livable property.
But here’s the problem: Many people mistake land agents, brokers, or marketers for developers. This misunderstanding has led to significant losses and confusion, particularly in Lagos and other rapidly growing cities.
A true property developer owns or controls the land, manages approvals, hires contractors, oversees construction, and is accountable for delivery. If you’re buying a home or off-plan property, you must know who the actual developer is, not just who’s marketing it to you.
Want to go deeper into property verification? Read this: Critical Checks Before Buying Property in Lagos
Common Myths About Property Developers (That Can Cost You Millions)
Myth 1: “If they have an office, they must be legit.”
→ Offices can be rented. What matters is their track record, titles, and ability to deliver projects.
Myth 2: “They’re on Instagram, so they must be real.”
→ Many scammers now run sleek Instagram pages with fake testimonials. Always verify offline.
Myth 3: “A developer is just a marketer.”
→ Marketers advertise. Developers build and deliver. Don’t confuse one for the other.
How to Spot a Reliable Real Estate Company in Nigeria
1. Project History and On-Ground Evidence
Ask: Have they built before? Can I see it? The best developers will take you to sites they’ve completed and hand you real-world proof, not just digital promises.
2. Titles and Approvals
No documents? No deal. Confirm legal documents:
- Certificate of Occupancy (C of O)
- Governor’s Consent
- Deed of Assignment
- Registered Survey Plan
3. CAC Registration and Online Verification
CAC Registration and Verification
Use the Corporate Affairs Commission portal to:
- Search the company name
- Check the RC number
- Confirm active status and directors
Real estate experts globally agree on this principle: trust must be verified, not assumed.
If the company isn’t traceable through official registries like CAC, or they dodge verification, consider it a major red flag.
4. Community Reputation
What are homeowners and past clients saying? Are there online complaints, court cases, or refund demands? Reliable developers build trust and good reviews over time.
5. Transparency and Access
Reliable real estate companies allow site inspections, show you their construction team, and answer your questions without pressure or evasion.
Why This Matters So Deeply
In a country where homeownership is a dream carried by many, and real estate fraud is still rampant, choosing the right property developer could protect or destroy your future. People have lost life savings to fake companies, unregistered agents, and off-plan projects that never saw the light of day.
Your home is not just a building. It’s your legacy, your peace, your security.
Summary Checklist: How to Verify a Property Developer in Nigeria
- Confirm CAC registration and RC number
- Visit ongoing and completed sites
- Ask for titles and approvals
- Check reviews and ask real homeowners
- Insist on face-to-face meetings and legal documentation
- Don’t fall for urgency or emotion-based pressure