Development of Retail Properties in Nigeria

Contents

Development of Retail Properties in Nigeriai

Development of Retail Properties in Nigeria1

Introduction1

Retail Properties1

Development of Retail Properties in Nigeria2

Background of the Research3

Importance of the Topic4

Research Approach4

Contributions of the Research5

Problem Statement6

The Palms6

Research Questions7

Research Objectives8

Anticipated Achievements of the Research8

Literature Review8

Methodology10

Research Design10

Meta-Analysis11

References12

Development of Retail Properties in Nigeria

In this proposal, we would emphasize on the topic of our dissertation “development of retail properties in Nigeria”. The importance of retail properties has increased drastically in contemporary business due to competition. Nigeria is a developing country and retail properties would play a vital role in the expansion of business and in supplementing its economy. In a broader perspective, the issue has been widely addressed with regards to the economy of Nigeria. In the present proposal, we would discuss the concept of retail properties and their relevance and importance to Nigeria.

The competition in the retail industry is growing at a rapid and unprecedented rate. The growing impact of a reduction in visitor trips is leading to an increased requirement to design shopping centers and business strips in a well planned manner. The key lies in achieving success by influencing consumer choices and providing them with a well developed infrastructure to carry out their business.

Introduction

Retail Properties

Retail Properties refer to “the properties that are used exclusively in markets to sell services and goods to consumers” (Gilberto, 1990). For a developing economy i.e. Nigeria; the vitality of retail property is further increased due to its association with the financial performance of the country. For every country, a thorough study of its real estate investments both commercial and residential is vital to conduct an investment performance analysis (Lorenz & Truck, 2008).

Development of Retail Properties in Nigeria

Studying the retail properties and the real estate market of Nigeria can only be conducted if the country's dynamics and consumer behaviors are thoroughly identified. It should also be noticed that only a limited number of studies have been conducted on the markets in Nigeria. Hence, there is a dire need for specialized research on retail properties in Nigeria. The effects of the persistent changes in the domestic and global economies on the performance of investments and businesses should be carefully examined to justify the development of retail properties in Nigeria. Nigeria is a developing country that works under a mixed economy. Although, the country has an emerging market and manages to expand its communications, service and financial sectors at a slow, but steady pace. Presently, Nigeria is ranked as 30th on the basis of its GDP (Gross Domestic Product). If we analyze the past performance of Nigeria's economy; the slow and steady growth is quite noticeable i.e. 40th in the year 2005 and 52nd in 2000 (Hoesli & Lizier, 2007).

In Africa, Nigeria is the second largest economy after South Africa and is on its way to become one of the growing economies by the year 2020. Nigeria's market has the potential to expand and requires concrete financial and investment policies to prosper. Similarly, Nigeria has made considerable improvements in its ...