The fifth edition of Real Estate Unite, Africa’s largest real estate event, took place on the 6th and 7th of October, at the Eko Convention Centre Lagos.
This event which was well attended by real estate professionals, stakeholders, and the enlightened public was described by many as the most impactful since inception.
Some of the high points of the two-day summit included the AWIRE women’s meeting, with the theme, filling the gender and ambition gap in Nigeria’s real estate. This business/inspirational session had over 200 top real estate women in attendance and chaired by Head, Property, Standard Chartered Bank; Anne Rinu, Managing Director, Urban Shelter Limited; Saadiya Aminu and other women leaders.
Speaking at the AWIRE meeting, Saadiya Aminu of Urban Shelter called on women leaders to adopt global practices in real estate for enhanced service delivery. She also harped on the need for women to nurture talents and mentor upcoming entrepreneurs in the industry and in related sectors. Increasing women’s roles in the real estate industry, the importance of mentorship and benefits of women supporting each other were some of the topics discussed at the AWIRE meeting.
The leaders meeting which had over 300 leaders in attendance, was aimed at filling the leadership gap in Nigeria’s real estate was chaired by Peter Bamkole, Director EDC, Pan Atlantic University, Pierre Edde of Eko Atlantic, Yemi Idowu and Eseosa Ekaghuere of Stanbic IBTC. The leaders meeting provided the platform for leaders to share personal experiences and proffer solutions to issues while highlighting investment opportunities in Nigeria’s real estate industry.
At the leaders meeting, initiatives and strategies on driving industry growth in partnership with the government were raised. Also at the panel, Ugo Chime, President of REDAN noted that the industry would be more robust if government domesticated the national building codes.
Day 2 kicked off with two breakout strategy sessions, affordable housing session and the office and retail session, held concurrently.
The Affordable housing session was chaired by Tosin Ajose, Associate partner at Detail Commercial Solicitors, Adeniyi Akinlusi, CEO Trustbond Mortgage Bank, Dr.Chii Akporji, ED NMRC, Sam Odia, CEO Fuller Foundation, Ugo Chime, Presidential REDAN, Kunle Awobodu, VP Nigeria Institute of Building and Eseosa Ekhaguere, Head of Real Estate Finance Stanbic IBTC.
The affordable housing session was interactive, insightful and technically oriented. Industry leaders at the session went into technical details relating to affordable housing, planning, design, and execution.
Samuel Odia stated that the ROI on affordable housing was too low as no investor would want to go into an area with high risk. According to him, any sector that has low ROI has to be developed on incentives. He, therefore, called on the government to incentivise affordable housing for Nigerians. Major topics like the role of private sector in affordable housing delivery, investment strategies in affordable housing and government’s intervention through social housing incentives were discussed.
The office and retail session were chaired by Bolaji Edu, CEO Broll, Faustin Moukala, Director of Expansion CFAO Retail, Michael Chudi Ejekam, Expert Retail Developer, Gbenga Olaniyan, Principal Partner Estate Links, Kunle Adeyemi, Founder Principal NLE Works, Paul Onwuanibe, CEO Landmark, Kayode Ojo, Group Head FCMB.
Paul Onwuanibe at the office and retail session shared an example from his experience in office space development. He spoke on investment strategies and risk mitigation in workspace design and development.
The session, however, dwelt on value for money pricing while using technology to create disruptive innovations to ensure sustainability in business.
These sessions quickly transitioned into the GAP conference where different panels discussed how the gaps in Government, Access and Private sector of the Nigerian economy can be filled.
The G.A.P Conference witnessed major stakeholders and experts in the real estate sector who offered practical alternatives and solutions to Real Estate Acquisition, Funding and Investment in Nigeria as well as Affordable Housing opportunities.
At the GAP conference, Ayuli Jemide, Hakeem Ogunniran, and Prof. Inyangete delivered fact based presentations highlighting the reality and the gray areas in real estate.
Hakeem Ogunniran delivered a winning quote that had the audience captivated; “Turnover is vanity, profit is sanity & cash is reality”. Mr. Hakeem’s presentation had the entire audience in total silence as his lecture shed more insight on data, investment analysis and business strategies in the real estate market.
The conference focused mainly on the impact of regulatory reforms on the real estate sector, integration of government systems and processes for better service delivery, land titling and registration.
In a statement by Ruth Obih, CEO 3INVEST, she stated thus;
“Nigerians and global investors need to know the intricacies involved in the country’s growing real estate sector. There are questions to be answered with regards to affordable housing, access to sufficient funds for projects and how the government and private sector can drive partnerships that will benefit all parties and stakeholders.”
The conference was keynoted by Honourable Minister for Power, Works and Housing, Babatunde Raji Fashola, Ayuli Jemide, Lead Partner Detail Commercial Solicitors, Pierre Edde, Eko Atlantic, Prof Charles Inyangete, CEO NMRC, Sonnie Ayere, Founder Dunn Loren, Adeniyi Adeleye, Head of Real Estate Finance Stanbic IBTC, Uche Mojekwu, Halogen, Andrea Geday, MD Elalan, Hakeem Ogunniran, MD UPDC, Yemi Idowu, MD/CEO Aircom, Anne Rinu, Head of Property Standard Chartered Bank, Adeniyi Falade, MD Custodian Pension, Tola Akinhanmi, Snr Manager Stanbic IBTC.
At the government access panel, the Honourable Minister of Works, Housing, and Power Babatunde Fashola hinted that all his tenure as Minister will ensure localisation of all fittings as fittings for the proposed urban housing project will not be imported in the country. The Minister was represented by the Special Assistant Ministry of Works, Housing and Power, Abiodun Oki.
Ayuli Jemide and other panellists at the government access session advocated for transparency in government’s participation in land registration, public sector reforms, institutional change and ethical standards in public service.
3Invest introduced the maiden edition of the 3INVEST Inspirations biennial recognition awards to honour individuals who have inspired change influenced and have touched lives and businesses. Founder and Principal of NLE, Kunle Adeyemi were honoured with the Hero Award for designing the Makoko Floating School for people living in the Makoko Slum.
Other recipients of the 2016 3INVEST biennial recognition awards are:
Change Agent category;
Yemi Idowu of Aircom – Recommended as the largest single – handed medium to low housing developer in Nigeria
Tayo Amusan of Persianas group – Recommended for immense contribution to retail real estate and launch of the first Urban Mall i West Africa – The PALMS
Femi Akintunde of AM Facilities – Recommended for pioneering the Facilities Management Industry in Nigeria.
In Grand Achievers Category;
Ronald Chagoury Snr. of Eko Atlantic –Recommended for his role in rebuilding the great wall of Lagos and building a new city called the Eko Atlantic
Hakeem Ogunniran of UPDC – Recommended For leading to launch the most successful REIT in Nigeria to date.
“Next Wave “Ones to watch” category.
Richard Nyong of Lekki gardens – Recommended for using his Lekki Gardens pricing strategy to disrupt the housing prices in Lagos
Participants were also rewarded through a raffle draw, where a winner emerged at the Win a land promo by foremost property dealers, LPG limited, and some others electrical appliances from Pedini Bosch.
ABOUT REAL ESTATE UNITE
Real estate unite is an annual real estate summit curated by 3iNVEST with the primary objective to unite players in the real estate sectors whilst opening up the immeasurable potentials in Sub-Sahara’s real estate sector for sustainable growth.
The Real Estate Unite advisory board is an independent body made up of professionals from different sectors chaired by Peter Bankole, Jumoke Akinwunmi, Akin Olawore, Sonnie Ayere, Kunle Omotola and Ruth Obih.