Cutstruct
Quality Homes Built at the Right Prices

With a compound annual growth rate of 16.6 percent leading into 2024, the Nigerian Construction Market is set to grow leaps and bounds. However, a dwindling economy, as well as fraudulent contractors and vendors, could very well hinder this progress. Overpricing and bad workmanship are the leading causes of concern for most, as they start to plan and execute many a residential or commercial property. In rural regions, owing to the fact that rough terrains can be hard to navigate, most people find it hard to find good logistics to transport raw materials and labour to desired locations. Perhaps, the biggest challenge to overcome, though, is in eliminating the communication gap between the boardroom and a site crew.

To help individuals and construction companies benefit from a hassle-free and cost-effective building completion, CutStruct--a property technology solution provider--designed and developed a construction project management application- -LiveVend. The software uses complex and sophisticated AI algorithms to detect construction raw material vendors that offer the best quality at the best prices possible. “Our solution also allows boardroom members to view ongoing projects progress online and deliver any key messages to site managers and ensure efficiency and timely-delivery of building projects,” says John Oamen, CEO at CutStruct. Collectively, Cutstruct envisions the removal of all bad actors and prevent individual homeowners and construction companies from paying more than the actual value of raw material or resource.

The construction technology provider also helps address issues such as logistics and training workmen, in order to ensure the completion of a project with the proper business etiquette, quality, and efficiency. “We work in a disjointed and fragmented market; our solution is making the overall raw material procurement and contract development a lot more transparent and comfortable for builders to conduct business with added knowledge and risk-free operability,” comments Oamen. For builders, the software allows them to sign contractual agreements with full coverage of market pricing and empower them to complete their projects on time and within budget.

In one remote village of Nigeria, a client that was facing many difficulties in completing a sports facility approached CutStruct to analyse the best possible method and measures to consider when finishing the project. CutStruct paved the way for the procurement of raw material with ease and allowed the client to obtain materials at a fraction of the originally quoted price. In a review and comparison of prices, the client found the construction item available at 500 dollars a unit compared to the previously quoted price that was 14 times higher. “With our solution, the client was able to reduce the overall cost and complete the project at about 67 percent of the original budget,” elucidates Oamen.

As CutStruct continues to empower builders with opportunities and partnerships, the company began receiving multiple investments from local and international construction companies to further study the raw material market prices across various regions. The construction technology solution provider in its journey has also ventured into the US market and is working with a premium US construction company to showcase the value of the LiveVend Solution in markets outside of Nigeria as well. “We want to help our clients avoid fraud and help them save costs on projects with access to technology in closing all gaps in a construction environment,” expresses Oamen. In further highlighting the prowess of the LiveVend software in both an urban and rural space, CutStruct will engage with governments and small to medium construction companies