Daewoo Engineering and Construction Nigeria Limited has announced its plans to invest in housing, real estate, and infrastructure projects in Nigeria, with Lagos State identified as a key area for these investments.
The group chairman of the company, Jung Won Ju, made the disclosure during a courtesy visit to Governor Babajide Sanwo-Olu at the Lagos House, Ikeja.
Ju said Lagos was chosen as a major investment area because it is the economic capital of Nigeria.
Adekunle Ilesanmi, the General Manager of Contract and Business Development for Daewoo Engineering and Construction Nigeria Limited, reiterated the chairman’s remarks and stated that the company has a long-standing commitment to Nigeria.
“We will be investing in housing, real estate, and infrastructure,” he said. Daewoo has been committed to Nigeria for over 40 years. We are looking to expand our investments in the country, and Lagos has been identified as one of the primary areas of investment due to its status as Nigeria’s economic hub.
“The chairman is eager to make this commitment in the near future, particularly in the real estate and housing sectors,” Ilesanmi added.
“It is commendable to see Lagos State welcoming a variety of investments and fostering an enabling environment for all investors, ensuring a return on their investments. This makes Lagos an attractive destination because you can be confident of a return on your investment when you invest here. The government will assist you in achieving a return on your investment.”
In response, Sanwo-Olu assured investors that his administration will create an environment that encourages growth for investments and businesses in the state.
He stated that the state government is eager to collaborate with Daewoo in the automotive, real estate, and technology industries.
“The connection between South Korea and Nigeria dates back many decades, and we are all aware of Daewoo Industry’s global presence. We are familiar with your strengths and capabilities. Lagos is ready for business and open to new investments. I am aware that Daewoo Nigeria has been here for some time, but this is an opportunity to take that relationship to a new level,” he said.
“So, during this visit, don’t just come to show off; come to commit and establish a genuine partnership. Let this be a visit that results in tangible transactions on the table that both of us can take away.
“We are here to create an enabling environment for investments and businesses to thrive. So, if you require anything from our side for your investments within our means, you can be confident that we will do it as long as we see a mutually beneficial relationship.
“Our city is open. We are ready and willing to form that partnership with you in the automotive, real estate, and technology sectors because we have a very large and capable young population that is dynamic. They are highly skilled and eager to work.”