Zenith Bank founder Jim Ovia is shifting his focus to real estate development following his departure as the bank's chairman. The 74-year-old billionaire believes the property sector offers stronger profitability prospects than the banking industry.
Ovia is expanding his investments through Quantum Luxury Properties Ltd. The firm is currently developing two luxury residential projects in Lagos.
Investors are increasingly targeting the Lagos property market to hedge against inflation and currency depreciation. Rental prices in upscale Lagos districts increased 51% between 2024 and 2025.