Login Register
feel free to call 09056000005

‘Innovation, quality control will aid real estate industry growth’


Participants emphasized that ensuring the sustainability of the real estate sector requires embracing innovation and implementing robust quality control measures. This consensus emerged during the 2023 Lagos Business School and Nigerian Institution of Estate Surveyors and Valuers (NIESV) Real Estate Summit themed "Building for the future: Innovations, Opportunities, and Quality Control," held in Lagos.
 
The summit brought together industry stakeholders and government officials to deliberate on advancing the real estate industry. Gbenga Olaniyan, the Founding Partner of Estate Links Limited and the keynote speaker, underscored the importance of understanding market dynamics before constructing for future generations. He urged property practitioners to base decisions on accurate information, advocate for long-term thinking, and adapt to the evolving role of Artificial Intelligence (AI) in construction.
 
Read also:
 
 
 
 
Lagos State Governor, Babajide Sanwo-Olu, represented by the Secretary to the State Government, Abimbola Salu-Hundeyin, attributed the menace of building collapse in Lagos to real estate practitioners' failure to adhere to state laws. Sanwo-Olu acknowledged the housing challenges facing Lagos, with an anticipated population of over 30 million by 2035. He stressed the need for strict enforcement of regulations, advocating innovation, and implementing quality control strategies to address the growing housing concerns.
 
During a panel session, Tola Akinhanmi, Head of Real Estate Finance, West Africa at Stanbic IBTC, highlighted the instability of interest rates in the past decade, impacting cross-border transactions. He advised against borrowing in foreign currency without the necessary forex earnings. Gbenga Ismail, Chairman of NIESV Lagos branch, emphasized the importance of addressing issues such as proper land titling, tax regimes, and convenient fund repatriation to boost investor confidence.
 
 
Chudi Ubosi, Principal Partner of Ubosi Eleh & Company, discussed 'Real Estate Investment Approaches,' affirming real estate as a preferred asset class. He noted challenges faced by developers in delivering off-plan projects due to rising construction costs. Adeniyi Aromolaran, Executive Director of Lagos State Development and Property Corporation, emphasized the need for adaptive building methods aligned with usability.
 
Several speakers, including Grace Ofure (CEO of Lifecard International), Udo Okonjo (MD of Fine & Country West Africa), Jide Odusolu (MD of Octo-5 Holding), and Chude Osiegbu (Co-founder of VENCO Africa), highlighted various challenges and opportunities in the real estate sector. They collectively called for increased collaboration, adaptation to technological changes, and innovation to navigate the complex business environment.
 
Source: GuardianNG
 

Similar Topics

Event Set to Celebrate Managers Who Shape Careers and Drive Organizational Growth   Business...

10 days ago Read More

Global Leaders to Converge in Lagos for Landmark Event Driving Urban Innovation and...

11 days ago Read More

In a bold move to redefine affordable luxury housing, Nigerian real estate giant Gtext Holdings has...

19 days ago Read More

Industry Experts Urge Anti-Corruption Measures, Innovative Financing to Address Crisis By: Oche...

24 days ago Read More

LAGOS, NIGERIA – Global real estate consultancy Knight Frank and UK developer Mount Anvil...

26 days ago Read More

By Oche Onum Lagos, Nigeria As Nigeria’s real estate sector braces for 2025, rapid...

a month ago Read More

By Oche Onum Abuja, Nigeria In a landmark move to combat climate vulnerabilities in urban...

a month ago Read More

LAGOS, NIGERIA The Federal Government announced plans Wednesday to establish a Real Estate...

a month ago Read More

According to The Guardian's investigation, 70% of Nigerian states rely on manual land...

a month ago Read More

What is the Initiative? The Federal Government of Nigeria has unveiled an N100 billion private...

a month ago Read More

Abuja, Nigeria’s gleaming administrative capital, has long symbolized hope for migrants...

a month ago Read More

Abuja, Nigeria The Federal Housing Authority (FHA) has suspended all ongoing construction projects...

a month ago Read More

Lagos, Nigeria  Amid Nigeria’s escalating housing affordability crisis, real estate...

a month ago Read More

Renowned Nigerian gospel artist Mercy Chinwo has broken her silence in an emotional video...

2 months ago Read More

The Nigerian real estate market is projected to hit $2.25 trillion by the end of 2025, according to...

2 months ago Read More

Nigeria’s Minister of Housing and Urban Development, Ahmed Dangiwa, has called on...

2 months ago Read More

Affordable Housing and Luxury Properties Set to Propel Nigeria's Real Estate Market Over the Next...

2 months ago Read More

Hope for improved housing supply in Nigeria may remain unfulfilled, as the 2025 fiscal budget...

2 months ago Read More

Nigeria commemorated its annual Armed Forces Remembrance Day on January 15, honoring military...

2 months ago Read More

Nigeria’s ongoing GDP and CPI rebasing reveal real estate has overtaken oil and gas as the...

2 months ago Read More