We are Determined to Change Africa’s Luxury Real Estate Landscape, Says Turjman
The Group Chief Operating Officer of Palton Morgan Holdings, Nidal Turjman, is a thoroughbred professional and transformational leader who worked in the UAE and Pakistan before coming to Nigeria. Turjman speaks about living and working in Nigeria, Palton Morgan’s vision of becoming the preferred real estate brand in Africa and beyond, and how government can boost the real estate industry with policies and incentives
With your professional background in the Middle East, particularly the UAE and Pakistan, what attracted you to Nigeria in general and Palton Morgan in particular?
My optimism brought me to this continent, especially Nigeria, the greatest economy of Africa. Although there is global economic downturn, but there is growth potential in this market. The imagination to see the country’s unmet needs as opportunities will take her to greater heights. The business communities are committed to building and taking their businesses to the next level. Africa, in general, will come out of this crisis faster than any other continent, and this is what I believe. I am responsible for creating systematic processes and durable culture to breed more leaders for the company. There are only three things that have more power than you to make your company successful: your God, your customers and your Employees. The rest is a distraction. I must say that Palton Morgan is among the most dynamic holding companies with a clear vision and active leadership, which is determined to change the landscape of Luxury Real Estate in Africa and beyond.
Did you experience any culture shock with the Nigerian business environment? If yes, in what ways? And how has the adaptation process been for you?
I would not say it was a culture shock, as I have lived and worked in different countries, and I did my research and planning before coming. So, I have had to adapt and adjust to the Nigerian way of living. I have adapted well to Lagos’ culture.
Given your diverse and rich international experience, what’s your assessment of Nigeria’s business environment and the real estate sector?
The real estate development industry needs to adopt international best practices in eco-friendly development; technology and innovation would take the lead in shaping the product that copes with the demanding lifestyle of the youth population. The mortgage and banking industry has to be developed because the current interest rate does not help build all industries. Also, lowering interest rates by the Central
Bank of Nigeria (CBN) will improve investment in all sectors, including the real estate industry.
The construction industry in Nigeria, with a few exceptions, would require significant improvement in technology that may achieve cost saving in the workmanship and materials used. This industry has been developed to great levels worldwide, and in some countries, you can construct over 30 story towers in few months. I believe that we can add immense value to the industry that will impact the economy and improve Nigerians’ lifestyle.
You are renowned as a transformational leader that helps achieve the best business objectives through re-structuring, high profile sales and project management, amongst others. How are you bringing this to bear on Palton Morgan’s operations?
Many factors will play a vital role in bringing Palton Morgan and the Nigerian real estate segment to new heights. This is our common objective. I have seen and experienced many booms and recessions in the past. There is always a dawn after the dark. My role would be to minimise the effect of recession and introduce strategic plans to welcome the good time, which is not far off. The foreign markets see a bright future in Nigeria; they expect a boost in Nigeria when the electricity issue is resolved and security gets better. Dubai is an example; it isn’t the same as it was in the early ‘90s. Today, Nigeria is on the same track to attract and encourage foreign investors to come and invest in Nigeria. This country has all the capabilities and resources available. The rebranding drive, ‘Good People Great
Nation’, is focused on changing perceptions about Nigeria. Now it’s the time to prove it.