The African real estate market is beginning to show signs of recovery and stability. In a fast-moving world, the real estate industry needs to adapt itself taking into account geopolitical, economic, societal and technological challenges.
The recent economic downturn has caused the real estate sector in Africa to fall below the projected 2.6 percent regional growth. The Economic indicators show that Nigeria is gradually coming out of recession. However, balancing short-term indicators with long-term structural change will reinstate investor confidence which is paramount to the success and continued growth recovery process of the sector, as driven by government reforms and policies. Other West African states are showing continued growth and democratic progress. Ghana’s GDP stood at 6.6% by the first quarter of 2017 according to IMF. Senegal, Gambia and Ivory Coast are also showing stable economies.
“The Nigerian economy finally seems to be coming out the recession. The impact on real estate markets, particularly in the retail space has been clear with many of the country’s larger shopping malls suffering from persistently high vacancy rates as footfall comes under pressure. The impacting on the confidence of retailers to expand is self-evident according to Tom Mundy Director, Research and Strategy, JLL, sub-Saharan Africa.
Against the backdrop of these pressing issues, industry leaders and investors will unite again for the 6th edition of their annual flagship real estate summit Real Estate Unite (REU) (www.realestateunite.com) scheduled to hold on 23rd and 24th of October 2017 at Eko Hotel, Lagos, Nigeria to exchange views guided by the theme “Africa’s Real Estate; What’s new?” Real Estate Unite is the annual flagship event that provides an important platform for the residential, office, retail, healthcare, hospitality and industrial sectors of Africa’s property market to network, learn, transact, showcase and discuss opportunities and issues in global real estate yearly.
“The game has changed. Being faced with this new reality, how do we create new sources of growth? Are we rethinking business strategies? What’s are the new roles and responsibilities? What entirely is NEW? Solutions will form the basis of this year’s conversations says Ruth Obih, Founder, Real Estate Unite and Chief Executive, 3INVEST
To throw a spotlight on the economy, Dr. Doyin Salami, foremost economist, professor at Lagos Business School and 2nd term CBN monetary policy committee member will through his keynote presentation give an insightful examination of key trends in the Sub-Saharan and global economy with a specific view towards the future direction over the short and medium terms, including the outlook for GDP growth, interest rates and currency performance.
On tackling global issues and its effects, JLL, one of the global leaders in real estate will make a key presentation highlighting the global issues, its effects, and solutions for the real estate industry in Africa.
Other speakers at the conference sessions include: Yemi Idowu – Aircom; Valentine Ozigbo – CEO, Transcorp Hotels; Adeniyi Adeleye – Stanbic IBTC Bank; Obi Nwogugu, Africa Capital Alliance, Ronald Chagoury Jr. Vice President, South Energyx, Hakeem Oguniran – UPDC (Nigeria); Ernest Hanson – Beaufort Properties (Ghana); Tom Mundy – JLL (South Africa); Mustapha Njie – TAF Africa Global (Gambia); Andrea Geday, Elalan: Micheal Chudi Ejekam, Bolaji Edu, Broll, Chinwe Ajene-Sagna: JLL, Funke Okubadejo, ACTIS.
REU Summit in partnership with W-Hospitality and HTI Consulting will launch a dedicated Hotel, tourism and leisure(HTL) meeting place for the hospitality community. Real Estate Unite HTL will connect global business leaders and local markets to invest in Nigeria. The key focus areas for this year’s conversations will include; Annual market and economic update; Global issues and effects on local markets; Emerging disruptors in African Real Estate; Housing Market; Ground breaking technologies built for Africa; SSA future cities and Infrastructure; Healthcare as the most important priority for improving SSA; Capital market trends; Overview of the Hospitality, Tourism and Leisure (HTL) sector in Africa; Retail Revolution; and Office market. Other features of the summit will include the launch of the Real Estate Unite Network (RUN), a platform designed to foster interaction between active local real estate investors, developers, lenders and policymakers with a view to identifying the right partners for your business and building high-value relationships.
“ 2017 Real Estate Unite Conference has been designed to offer the greatest possible value and flexibility to operators, owners, users and players in all sectors of real estate including the residential, office, retail, healthcare, hospitality, logistics, leisure and industrial sectors,” says Ruth Obih-Obuah, Chief Executive, 3INVEST.
As is the tradition, Real Estate Unite 2017 will also feature exhibitions of latest offerings from Real estate product/service providers to an involved audience (B2B) that includes developers, suppliers, service providers etc. and attracts a wider B2C audience that includes investors, homebuyers, occupiers etc.
Key sponsors at this year’s event include ACTIS, Eko Atlantic, JLL, UPDC, Aircom, Stanbic IBTC, Broll, Haven Homes, Elalan, Clifton Homes Ghana, Landwey Investment Ltd, EUC Homes and MP Infrastructure.
Established in 2012, Real Estate Unite is curated by 3INVEST an organization with an advocacy goal to educate, redefine and promote the Sub-Sahara African Real Estate industry, exposing its huge potential for inclusive growth.