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By Olusesan Ogunyooye.

It is no news that there has been a wind of change in Nigeria’s real estate sector in the past two weeks. The industry is livened; a scenario best described as “a breath of fresh air” – no semantic widening intended. Since the Real Estate Unite Conference and awards was launched June 13, the kudos for 3Invest Limited, organisers of the event, has been overwhelming. The media, both popular and new media, are saying so much about it; they have reported about the event in terms of its advocacy on new technology, business potentials, collaborations and sector growth. Also, major stakeholders in the sector have lauded the initiative as novel and timely. According to Chief Kola Akomolede, President, FIABCI Nigeria, Real Estate Unite is a deviation from what has been obtainable in the sector.  Afolabi Imoukhuede, Intervention Lead, DFID-GEMS 2 said that the event is unique in its structure. He opined that except the sector gives in to events like Real Estate Unite, the solution may still be far into space. ‘The issues with the industry is that the solution of one sector is the problem of the other, so they must all come together in an event like Real Estate Unite to bear their issues,’ he said. In this series of “Reasons to Be Part of Real Estate Unite”, I intend to take you through the unique selling prepositions of Real Estate Unite Conference and Awards. This week, we take a look at the first five reasons. 1. Real Estate Unite appreciates Nigeria’s Real Estate is still far from the centre: The theme of the conference is “Jumpstarting Nigeria’s Real Estate for Global Investment”. Nigeria’s Real Estate has the potential to be a key driver of the economy but currently contributes a tangential 3% to the nation’s GDP. Real Estate Unite has therefore identified this insufficiency and seeks to correct it by fielding the experiences of Nigerian experts in Diaspora who are blazing trails in the sector. 2. It focuses on Common Challenges and Solutions: As the name rightly connotes, the event seeks to UNITE the challenges, the thoughts and solutions of an industry faced with common problems. From the hollow chambers of policy makers to the semi-skilled estate agents on the street and the foreman on the site; Real Estate Unite intends to create a platform for exploiting the challenges and harnessing the solutions. 3. It is inclined to open up Real Estate Investment Opportunities: Nigeria has immeasurable real estate potentials. There is an approximately 1 billion square metre of land – a fixed asset; and an approximately 160 million people with a growth potential of 200 million in the next four decades. These should make Nigeria an investment destination for investors looking into Africa. Real Estate Unite is designed to open up these opportunities through exhibitions, stakeholders’ insights, and an art exhibition that portrays the places and spaces in Nigeria. 4. Networking: No business can survive in isolation. Real Estate Unite has in it an exclusive business to business networking cocktail for CEOs. Besides that is the opportunities it offers through the calibre of people billed for the event in September. Suppliers can meet contractors; contractors can meet artisans and developers, developers can meet finance experts, and the circle is unending… 5. Recognise appreciate and celebrate performance: In spite of its underdeveloped state, Nigerian Real Estate Sector has witnessed invaluable contributions from certain corporate bodies and individuals. Their efforts have contributed to the sector in terms of innovative, social and environmental impacts. These corporate entities will be rewarded for their steadfastness and commitment to the industry over the years.   To be continued next week.
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This article was first published on 5th July 2012 and updated on July 9th, 2012 at 3:14 pm

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