The quantity and quality of infrastructure in a nation is a critical determinant of its economic growth and development, living standard of the citizens, as well as the attraction of foreign direct investments (FDI) into such economy. While hard infrastructure includes facilities and amenities such as electricity supply, road networks etc., soft infrastructure are in the form of policies and reforms that could lead to the economic prosperity of a nation. The study establishes a link between hard infrastructure and foreign direct real estate investment in Lagos. A survey conducted on nearly 450 public policy makers as well as real estate developers / experts from around the globe revealed their preference for investing in cities with adequate quality infrastructure. Furthermore, good public transport system and road networks were top in their order of priority. Perhaps for the easy movement of people and goods, which could translate to increase in economic activities. Unfortunately, another secondary empirical data revealed that Nigeria is one of the countries in the world lacking adequate infrastructure. Similarly, reviewed literature showed huge infrastructural gap in the study area, Lagos State. Aside transport infrastructure, other identified infrastructure necessary for the proper functioning of real estate developments which are still deficient in the State include adequate electricity power supply, good drainage channels, proper waste management system etc. Nevertheless, the study noted that the current administration in Lagos State is making efforts in closing the infrastructural gap by carrying out various infrastructural projects all around the State. However, in order to attract more foreign direct real estate investors to the State and to equally retain the existing ones, the study recommended the development of effective public transportation system complemented by good roads, in addition to the implementation of other views of the global real estate developers / experts mentioned above.
Keywords: Hard infrastructure, Foreign direct real estate investment, Lagos State, Nigeria