As the Nigerian real estate industry continues to grow, the present economic challenges bedeviling the economy has been a source of concern for many investors, real estate developers, event managers, mortgage financiers and home buyers. Moreover, it is a fact that in history, there have been countries that have experienced worse events in terms of economic and social challenges and were able to navigate successfully away from such and went on to become greater in terms of economic related indices-talk of GDP, Per capita income, foreign direct investment and policy formulation.
The Nigerian Real Estate sector has proved dependable even in these times of economic recession. Our current economic situation calls for the various real estate stakeholders to come together to fill existent gaps in the industry.
Skilled investors know how to maximize the opportunity that now exists, knowing very well that once the economic pulls out of recession, it will be a season of financial returns, profits and gains higher than marginal prices thus creating another opportunity for such an investor to expand their investment portfolio.
One of the many ways for these key real estate players to come together and deliberate on current challenges and proffer solutions is through conferences, exhibitions and seminars. This way, stakeholders can know the trends and opportunities that can be harnessed in the real estate sector.
Over the years, Real Estate Unite, an industry annual summit, has provided an open and cohesive platform for global real estate professionals and leaders to share experiences, and explore the investment opportunities abundant in Nigeria’s in Real estate market.
On October 6th and 7th 2016, the doors will be flung open for investors, homebuyers and building companies specializing in the design and construction of affordable housing to come together and proffer innovative solutions to support the growth of Nigeria’s economy through the opportunities available in the vibrant real estate sector.
The 2016 edition theme “Filling the GAPS” aims to explore how Government, Access, and Private sectors can each play vital roles in further boosting Africa’s real estate sector and widening participation. In addition, the collaborative strategy sessions will help tackle current issues ranging from climate change to affordable housing, to consumers’ needs in the office and retail sectors.
The Conference seeks to:
- Identify the gaps impeding progress in the key areas of the Nigerian Built Sector.
- Understanding the new growth drivers in today’s local capacity/resources driven market.
- Highlight the role of Government in stimulating the housing market through regulatory reforms and an efficient civil service.
- Reviewing the Affordable Housing Scorecard for Nigeria and the impact of the Nigeria Mortgage Refinance Company in stimulating our once nascent Mortgage Market.
- Rethinking local strategies for financing real estate in a recessive economy.
Some GAPS that need to be filled in Nigeria Real Estate
- Integration of Government systems and processes (inter/intra ministerial functions overlap)
- Technology enabled civil service
- Continuous Education to eliminate redundancy
- Effective Rewards and Motivation Mechanism
- Dealing with Graft and Corruption
- Access to data/information
- Access to Government support and incentives
- Access to Land
- Access to Finance
- Access to Skilled Labour
- Access to Local materials
- Access to Education
- Dealing with interest rate and currency risks in construction financing.
- Minimizing project overruns financial defaults and contract cancellations.