Corporate Real Estate Strategy and Workplace Management in Nigerian Banks

This study examines corporate real estate strategy and workplace management practices in Nigerian commercial banking institutions, evaluating how major banks manage their extensive branch networks, head office complexes, data centres, and staff accommodation portfolios to support business strategy while controlling occupancy costs. Corporate real estate management has become increasingly strategic in the Nigerian banking sector as institutions expand branch networks, adopt digital banking models that reduce branch transactional requirements, and seek to optimise property portfolio costs during periods of financial performance pressure. The study employs a qualitative multiple case study design, interviewing head of real estate or facilities management from eight major commercial banks including Zenith Bank, Access Bank, GTBank, and First Bank, covering portfolio size, strategic management approach, vendor management, occupancy cost control, and adaptation to changing workplace needs. Case analysis is supplemented by review of annual report property disclosures. Findings reveal significant differences in the strategic maturity of corporate real estate management across sampled banks. Leading institutions have moved towards centralised portfolio management with integrated facilities management service contracts, while smaller banks maintain fragmented property management with limited data on total occupancy costs. The shift to digital banking is driving branch network rationalisation strategies, creating disposal and repurposing decisions that require professional property advisory input. Sustainability considerations are beginning to influence new office space decisions at larger banks. Recommendations include developing a Nigerian banking sector property management benchmarking platform and professionalising in-house corporate real estate functions through chartered membership requirements. Keywords: corporate real estate, workplace management, banking sector, property portfolio, Nigeria.