The Managing Director/CEO of Afriland Properties Plc, Uzo Oshogwe, joined other industry experts, government representatives and key private sector players, at the 2019 edition of FIABCI-NIGERIA Awards, Dinner and Business Forum. This year’s event was tagged: The Ease of Doing business in Nigeria – The Nigerian Experience”.
Speaking during the 2nd panel session on the sub-theme: “Attracting real funds in our real estate market” at the Lagos Oriental Hotel in Victoria Island, she shared her perspective on ways to attract funds in the sector: “Ticking all the boxes to ensure an enabling business environment for foreign investors is crucial, but while this is in progress, we also have to look inwards.
Cost of fund remains one of the greatest challenges in the real estate industry, especially because investments are usually for the long term. All over the world, governments utilize idle funds as investment options to improve infrastructure and develop the economy. Though we’ve heard of the restrictions on direct investments, pension fund is one of the best options to finance real estate projects in Nigeria.”
In a keynote address by the Honorable Commissioner for Housing, Lagos State, Prince Gbolahan Lawal, who was represented by Adetoun Adeyemi, he reinforced the state government’s commitment towards a more conducive business environment, especially in the real estate industry: “The construction industry represents a significant component of the local economy. At ministry of housing, we understand the constraints that the real estate sector, an offshoot of the construction industry is facing. Hence our full support for joint venture initiatives amongst others. “
Other panelists at the event were immediate past FIABCI world President, Mr. Farook Mahmood; Senior Special assistant to the President on Industry, Dr. Olajumoke Oduwole and other renowned professionals form diverse sectors.
FIABCI is the French acronym for “Federation International des Administrateurs de Bien-Conselis Immobiliers” or the International Real Estate Federation.