Existing literature has shown that Virtual Reality (VR) is widely utilized in advanced economies to enhance sustainable construction practices. However, its adoption in developing economies remains limited. To this end, this study aims at exploring the potential benefits of implementing VR technology in a developing country. The study collected information on the beneficial aspects of VR from previous research and conducted questionnaire surveys to gather relevant insights from construction project experts in Nigeria. The collected data were analyzed using the Measurement of Alternatives and Ranking According to the Compromise Solution (MARCOS) method and Exploratory Factor Analysis (EFA). The MARCOS method revealed that the key potential benefits of VR include improved communication and collaboration, enhanced project performance, risk identification, digitalization, and safety planning. Furthermore, the study conducted an in-depth investigation of the beneficial areas of VR using EFA, which identified six component groups: pre-contract stage planning, post-contract stage planning, quality control and sustainability, design flexibility and reputation, resource management, and risk management and digitalization. The study provides a comprehensive discussion of the advantages of implementing virtual building methods in developing countries.