Nigerian Startup Reala targets $2.61trn market through AI-powered real estate
By Austine Agbo Emmanuel, Kaduna
http://www.newsportng.com.ng With Nigeria’s real estate market projected to hit $2.61 trillion by 2025, stakeholders are still grappling with opaque pricing, fraudulent listings, and inefficient management systems.
Despite its rapid growth, the sector remains largely unstructured, making property transactions risky and cumbersome.
To address these challenges, Kaduna-based startup Reala is launching an AI-powered property management platform aimed at enhancing transparency, efficiency, and trust in real estate transactions.
The platform, set for beta rollout in May 2025 across Kaduna and Abuja, will expand into Lagos, Port Harcourt, and Kano as part of its national growth strategy.
Nigeria’s real estate market has long suffered from poor documentation, disputes over ownership, and unreliable property data, fueling cases of fraud.
In 2022, the Economic and Financial Crimes Commission (EFCC) flagged real estate scams as a growing concern, with unverified agents exploiting home seekers and investors.
According to Fishon Amos, CEO of Reala, many property stakeholders struggle due to outdated systems. “The lack of structured property management tools makes transactions cumbersome and prone to fraud. Reala is leveraging AI to eliminate inefficiencies and improve trust,” he said.
Co-founder Solomon Emmanuel added that the platform goes beyond being a marketplace by integrating digital verification, automated payments, and AI-driven recommendations to reduce fraud and improve decision-making.
“We want to create a transparent ecosystem where home seekers and landlords can engage with confidence,” he noted.
Mubarak Aminu, another co-founder, emphasized the need for secure and accessible real estate transactions.
He said , “With Reala, property dealings will no longer rely on unreliable middlemen or manual records. Landlords and tenants will have a seamless, secure digital experience.“
As Nigeria’s real estate sector expands, experts argue that technology-driven solutions will be essential to unlocking its full potential.
Countries like the United States and the United Kingdom already leverage AI for property valuation, fraud detection, and tenant screening, but Nigeria remains largely manual and fragmented in its approach.
The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has previously called for a centralized property database to enhance transparency, a move that could complement platforms like Reala.
As Nigeria’s $2.61 trillion real estate industry continues to grow, AI-driven solutions like Reala could reshape how properties are managed, bought, and sold, unlocking new economic opportunities.
Reala has already secured a partnership with Beacon Corporate Realty, one of Nigeria’s fastest-growing real estate firms, strengthening its market credibility.
Real estate stakeholders can join the waitlist at https://www.reala.ng/ ahead of the official launch.
