FIABCI-Nigeria and Nigerian-British Chamber of Commerce jointly host 2024 Real Estate Outlook

Feb 14, 2024 Latest News

On Monday, February 12, 2024, FIABCI-Nigeria, in collaboration with the Nigerian-British Chamber of Commerce (NBCC), hosted the 2024 Real Estate Outlook Seminar, titled "Looking Ahead: Gauging Opportunities," sparking insightful discussions on emerging trends within the industry.

Since its inception just last year, the partnership between FIABCI-Nigeria and NBCC has paved the way for remarkable opportunities, fostering growth and innovation in the real estate sector.

The seminar featured expert insights into the significance of Land Use Acts, Property Law, and the effective utilization of policy streamlining for building houses in Nigeria.

The event drew considerable attention, with notable attendees including Mrs. Barrakat Odunuga-Bakare, Special Adviser to the Lagos State Governor on Housing; Dr. Biodun Adedipe, Founder/Chief Consultant of Baa Consulting; Hakeem Ogunniran, Chairman of NBCC Construction and Real Estate Group; Yemi Idowu, Founder/CEO of Aircom Nigeria Ltd; and Paul Onwuanibe, Group CEO of Landmark Africa.

Dr. Biodun Adedipe emphasized the importance of agility and risk identification within the Land Space and Act. He outlined seven crucial elements in the real estate sector: product offering, product packaging, location, people, visibility, pricing, and processes. Dr. Adedipe also advocated for government policies to promote local manufacturing, creating a conducive environment for real estate businesses.

Paul Onwuanibe highlighted the centrality of people and their experiences in the real estate sector. He underscored the potential employment opportunities in the tourism aspect of property management and recommended increased focus in the coming years.

Yemi Idowu shared insights on the necessity for government policies and structural improvements in town planning. He emphasized that the existing system often influences key decision-making processes related to property use.

Hakeem Ogunniran identified opportunities in the warehousing business due to the growing e-commerce chain. Mr. Ogunniran emphasized the importance of regulatory compliance, intensity, and the need to infuse flexibility into capital stacks, calling for innovative funding approaches.

The seminar, moderated by the illustrious Bidemi Fadayomi, Executive Director of Development and Projects at UPDC Plc, provided a platform for in-depth discussions and forward-looking perspectives on the Nigerian real estate landscape.