Interview With Temidayo Falore: Managing Director Stable Shelters Development Co Ltd

We recently sat down for a captivating interview with Mr. Temidayo Falore, Managing Director of Stable Shelters, one of the fastest rising property developers in Nigeria today. Mr. Falore shared his insights on Stable Shelters’s growth in the real estate industry and how they have managed to successfully adapt to the evolving needs and tastes of clients especially in the Diaspora. The conversation also touched on Stable Shelters’ unique approach to customer service, innovative building practices, its partnership with Seso Global  and future aspirations. 

Mr. Falore’s Journey from Consulting to Construction

Mr. Temidayo Falore, dedicated over 23 years to reshaping Nigeria’s real estate industry. From his humble beginnings as a quantity surveyor to becoming a leading developer, his journey has been a blend of passion, persistence, and innovation. His story is more than that of business success but also one of adding value and reconnecting Nigerians in the diaspora with their roots through real estate.

Stable Shelters, which began in 2013, specializes in residential, mixed-use, and retail developments. Based in Lagos, Nigeria, the company has swiftly risen to prominence by focusing on quality construction, innovative design, and customer trust. As Mr. Falore shared, the company’s success is not by accident but has been built through deliberate efforts to cater to the changing needs of the Nigerian real estate market.

He has “always been fascinated by good quality buildings and the transformative power of real estate”. 

Indeed his drive to build high-quality, affordable housing is what pushed him to make the shift from consulting into construction, and eventually, property development.

Stable Shelters’ Unique Value Proposition

One of the key factors that set Stable Shelters apart is Mr. Falore’s belief in constant improvement.

He expressed, “Technology and expertise have improved drastically”. “The way we build now is not the same as years ago. The economy is growing, and with it, the taste and demand for quality.” 

He showed pride in how Nigerian developers have been able to keep up with global standards, though he added, “We are not there yet, but the progress is undeniable.”

Perhaps the most intriguing part of Stable Shelters’ journey has been its engagement with the Nigerian diaspora—a market that has grown significantly in recent years. Nigerians abroad, as well as other Africans, are increasingly looking to invest in property back home, driven by both emotional and financial factors.

Mr. Falore shared, “The diaspora market is vibrant”. “Many are looking to reconnect with their roots, while others see it as a smart investment with high capital appreciation.” 

This dual motivation—cultural identity and financial security—has made the diaspora a key focus for Stable Shelters.

What makes working with diaspora clients unique is their need for trust and transparency. “Since they are not present, trust is crucial,” explained Mr. Falore. Stable Shelters has built its reputation on integrity, making sure that clients feel confident in their investments. Mr. Falore also highlighted how the company has adapted to this market by offering customized solutions. 

One of his success stories involved a couple from the diaspora who had a negative experience with another developer. To win their trust, Stable Shelters offered a unique payment plan, allowing the couple to make payments only after each development milestone was completed. “It wasn’t an economically sound decision for us, but we wanted to show them we are different,” Mr. Falore explained. It’s about making clients feel secure.” The couple now owns a property in Lagos, using it both as a home when they visit and as a source of income through short-term rentals. “That’s what we strive for—creating win-win situations.”

Seso Global, Trust and Technology 

Mr. Falore also credits Seso Global, which provides a blockchain-based platform that facilitates transparent and secure property transactions, for easing the challenges diaspora real estate clients face. 

“Platforms like Seso Global help make the process seamless, enabling more trust between developers and buyers.” 

By partnering with Seso Global, Stable Shelters has ensured clients abroad are able to make informed decisions and conduct due diligence easily, which Mr. Falore believes is crucial for the future of the industry. He further noted that with Seso Global’s facilitation of virtual tours, potential buyers can view properties without having to be physically present, which is especially useful for those abroad. “With Seso Global 50% of the work of due diligence is done with speed and convenience,” he added.

In addition to the above, StableShelter offers a five-year defect liability period for all its developments, which Falore hopes to extend to ten years, backed by insurance. This kind of commitment ensures buyers can trust the long-term durability of their investment.

As Falore explained, “So far, we’ve had no serious cases of defects, but we stand by our promise to fix any issues if they arise.”

The Ambashore Development in Victoria Island

One of Stable Shelters’ flagship projects is The Ambashore. The 42-unit, two-bedroom apartment complex in Victoria Island, Lagos, exemplifies the company’s dedication to high standards and modern conveniences. The development is designed with young professionals and business travelers in mind, featuring home offices equipped with broadband internet, 24-hour concierge service, and communal working spaces.

Mr. Falore spoke enthusiastically about the amenities that Ambashore offers, including a professionally managed spa, gym, rooftop restaurant, and a swimming pool, all aimed at enhancing work-life balance for its residents. “What COVID has taught us is the importance of a seamless work-life experience, and that’s why each apartment comes with a home office,” he shared.

Opportunities for the Diaspora

For diaspora buyers, investing in Nigerian real estate offers a unique advantage, especially given the favorable foreign exchange rates. Mr. Falore highlighted that now is an opportune time for international buyers to invest in properties like Ambashore:

“This is a very good time for people in the diaspora to buy into the Nigerian real estate market because of the foreign exchange differential.” 

He noted, adding that Ambashore’s prime location in Victoria Island makes it an attractive investment.

Mr. Falore also revealed that Stable Shelters is in talks to manage a range of luxury hotel apartments, which would create additional income streams for diasporan investors. “Returns become seamless and easy to get,” he assured.

Future Vision for StableShelter

Looking ahead, Mr. Falore shared his ambitious vision for the company. He aims to expand into mixed-use developments, combining commercial, residential, and recreational spaces. One exciting project he hinted at was the creation of Lagos’ first indoor waterpark, that would be integrated into a resort-like development. Additionally, Mr. Falore dreams of building a smart city, not just smart homes. “Technology-induced urban planning is something we’re looking into, and we want to be pioneers in that space,” he stated confidently.

Through its commitment to innovation, quality, and customer satisfaction, Stable Shelters seeks to set new benchmarks in Nigeria’s real estate industry. As Mr. Falore concluded:

“We are always thinking ahead, improving on what we’ve done, and planning for what’s next.” 

For diaspora buyers, StableShelter and its partnership with Seso Global provide a reliable, transparent pathway to invest in high-quality real estate back home.