ASSESSMENT OF CHALLENGES ASSOCIATED WITH REAL ESTATE DEVELOPMENT AND INVESTMENT IN ENUGU URBAN

This study investigates the multifaceted challenges associated with real estate development and investment, focusing on economic, regulatory, financial, technological, and social-environmental factors. Using a structured questionnaire distributed among 80 industry professionals, the research identifies key issues and provides insights into their impact on real estate projects. The findings reveal that rising construction costs and fluctuating property values are the most significant economic challenges, affecting investment decisions and project viability. Regulatory and legal issues pose substantial barriers, often significantly hindering project feasibility and causing delays. Financial challenges, particularly managing cost overruns and securing financing, are prevalent concerns, with substantial implications for project success. Technological advancements offer mixed impacts; while they can enhance efficiency, they also introduce complexities that require careful management. Social and environmental considerations are increasingly important, with a significant proportion of respondents indicating that these factors greatly influence project outcomes. The study concludes that effective management of these challenges requires a comprehensive approach, balancing economic, regulatory, financial, technological, and social factors. Recommendations include strategies for cost control, regulatory navigation, financial planning, technological integration, and sustainability. Implementing these measures can help stakeholders in the real estate sector navigate challenges more effectively and achieve successful project outcomes.