Entrepreneurs.ng caught up with Noah Ibrahim of Novarick Homes and Properties, who is doing amazing things in the real estate industry in Nigeria.
As our custom when we discover rare talents, we reach out to them to tell their stories. Entrepreneurship is a lonely and challenging journey. Knowing that people are making leaps is a great motivation for aspiring entrepreneurs.
So, fasten your seat belt as we take a ride with Noah Ibrahim.
Please give us a brief background about yourself
“My name is Noah Ibrahim. I’m 28 years old and I hold a Bachelor’s degree in Mechanical Engineering from OAU, Ile-Ife. I consider myself a businessman with a knack for value addition. I have never really worked under anyone. I’ve founded a number of businesses, some of which failed but I can say I gathered a lot of experience throughout those processes.
Self-motivated, I have over 4 years of experience in real estate project development and management, and I’m working to redefine the narrative in the real estate sector by championing the development of smarter and greener communities in Nigeria”.
Family has a huge influence on our lives. Which member of your family do you think has been the biggest influence in your choice of career?
“I’ll say, my dad and my grandma. My dad is a man of integrity and is very supportive. He has always taught me to be myself and follow my guts. While my Grandma whom I fondly called “Iya-Shike” taught me to always be prepared. She made me join the boy scout at a very young age, a move that inspired boldness and courage in me”.
Why your chosen industry?
“Well, I believe it’s one of the few industries where I can directly make an impact by helping people generate wealth. Real estate investment indeed is one of the best and easiest ways to generate true wealth, which makes it what everyone aspires to own. Fortunately, my guiding principle is that, If I could help as many people get what they want (wealth), then I’ll easily get what I want (wealth)”.
Do you have any mentors?
“Mentors, no, role models, yes… Kanye West, Donald Trump, and Elon Musk… Nigerian: Aliko Dangote, Folorunsho Alakija, and Femi Otedola…. They’re all Billionaires.
Tell us about Novarick Homes And Properties
“Novarick Homes is about a year and 9 months old now. It was registered in August 2018. It’s still at the “SME” level, even though we’ve made considerable progress in terms of revenue growth, social Impact, customer satisfaction, and project development.
The company is founded on a single mission of building greener and more self-sustainable communities across Africa. We have to date, launched three major land projects and one housing project within the Lekki environs.
The land projects all have a master plan that incorporates green area, solar, and wind energy as alternative sources of power, energy efficiency systems that optimizes the uses of power, etc. Our housing units also come with preinstalled solar panels and inverters. I believe that we are very much on track of our vision to build green communities”.
What is the company structure?
“We have about 15 fulltime staff and several contract staff. We are a team of very young individuals, all below the age of 30yrs. We’re strong on creativity and Innovation, and we are very passionate about the inclusion of millennials in real estate investment.
Our brand values are customer satisfaction, trust, integrity, and respect for people. Standing by these values has helped us go far in the industry. I am a firm believer in technology and automated systems in business. So, we automate what we can, when we can.
Our marketing strategy revolves around building a strong and positive perception around the Novarick brand and we leverage both digital and traditional media in achieving that”.
Where do you envision Novarick Homes and Properties in 5 years?
“In 5 years, we would have built homes for more than 1,000 families. We should be over 5,000 customers strong for housing and land properties, and very much on track to help more Nigerians generate wealth through real estate.
In 5 years, we would already have a bold footprint in Nigeria and be actively working on expanding into other African countries. I have eyes on Kenya and Rwanda”.
Tell us how you have leveraged technology in your business
“Well, we’re paperless on receipts and forms, and we are very strong on digital marketing. I know that we have one of the strongest digital footprints in the Nigerian real estate sector.
We now have most of our meetings on Zoom due to the COVID-19 crisis, leverage tools like Trello and Slack in managing workflow and even adopted an e-payment solution to allow our client to pay us easily and effortlessly”.
What has been your biggest challenge so far in running Novarick?
“Financing. We are strong on private debt financing and since the banks aren’t too cooperative with young businesses, we resorted to pooling funds from private investors, and our credit score has been very good”.
How have you been able to sustain your business in terms of financing?
“I believe in breaking down financing needs and getting smaller money values but increasing numbers. So if I wanted to raise 100Million for example, I would do that by getting 5 Million Naira investment from 20 private investors, or better still 1 million Naira from 100 private investors by offering them equity or good returns on their capital. Sales have also been good, Nigerians are big on real estate investment, especially Nigerians in the diaspora, and we’re doing well to meet their needs”.
How do you give back to the society? Any CSR projects?
“We’re big on giving back at Novarick, in fact, we now have Novarick foundation to educate the Girl Child and advocate for gender equality.
Other CSR projects are; Makoko Outreach, Powerful Young Projects, Feed the Kids Initiative, COVID-19 Relief Projects, and many more that I can’t remember right now”
Tell us about other business interests you have apart from Novarick
“We have expanded the Novarick brand to a group of companies. So, under the group, we have Novarick Agro-Allied, Novarick Energy, Novarick Technologies, and Novarick Construction.
What advice will you give to a person who is starting a business in your field?
“My advice to them would be to always do business from a position of value addition, be customer-centric, and improve your brand.
Don’t go in for the money, go in for the impact and value, and money will come. It will however take time, but you’ll surely be around to cash out”.
What is your greatest achievement so far? Any awards?
“I don’t base my achievements on awards. But so far, I think my biggest achievement is the ability to build the Novarick brand into a strong brand in a space of two years. We now have a group of companies in Agriculture, Energy, Technology, and Construction. Our most recent award is from Businessday, Top 100 fastest Growing SMEs in Nigeria”
When all is said and done, what is the most memorable thing you have done that you want carved on your tombstone?
I would die a fulfilled man if I have added value to as many lives as possible. Giving back, and helping people generate wealth, I believe that’s what I’m here for.
Tell us what your typical day looks like?
“Wake at 5 am and perform Salat. If it’s a work out day, I’ll work out, if it isn’t, I’ll have some tea/breakfast and play FIFA/read a chapter. Get to work by 9 am and work till 10 pm. Then, get back home, have dinner, play FIFA, and sleep. In between work time, I’ll take a nap, or read a book or play chess”.
Tell us how you unwind.
“I play games, FIFA, Chess, or I just sleep. I do have night-outs too with my friends”.
Romantic relationship status
“Yes… I’m in a relationship and looking to get married soon”.
Quotes By Noah Ibrahim
“The goal is to be wealthy not through money alone, but value, by empowering as many people as possible to become successful, that way, success and wealth are guaranteed…” Noah Ibrahim
“If you don’t measure progress, growth becomes impossible” Noah Ibrahim