West Africa’s largest and most renowned real estate investment and development conference (WAPI) was held on the 26th and 27th of November 2019 at Eko Hotel & Suites, Lagos, Nigeria.
According to the summit’s host, Kfir Rusin, CEO API Events, this year’s theme: Uncovering the Next Real Estate Investment Cycle was strategically chosen, he mentioned that “the West Africa Real Estate Industry is now increasingly attractive to global investors and so investors need reputable developers, reputable projects and accurate data to increase transparency and boost their confidence in the industry showing them they can make great returns”
The conference was graced by relevant key players in the industry as well as delegates from across the sub-Saharan region, who discussed and shared insights on the challenges facing investors and stakeholders in the region, and the changed & revised strategies in the sector, with the esteemed panel sessions provided.
Bolaji Edu, CEO Broll Nigeria, one of the region’s largest multi-disciplinary commercial property services providers, moderated the second panelist. He revealed that “Nigeria has a 20 million deficit in housing and until we get a real consortium of international, domestic, and public sector investors we may always have a substandard provision of property”
He further stated that to provide jobs for the Nigerian population and make it to a more equitable growth rate, investors should not only target expatriate or high net worth market but the general market. “we need to invest further in properties to give jobs to labourers and skilled artisans and to also reduce commute time from home to work”
Malcolm Horne, Broll’s Group Chief Executive Officer spoke on the need to create an environment where real estate investment can thrive in order to gain the confidence and trust of investors. He stated ” we need a sustained environment because investors are worried that they can bring in money and possibly not get the returns they are anticipating, although there are companies that have shown that this is being done in the market at the moment”.
