3Invest in search of solution to finance, infrastructure challenges in real estate

For the third time, 3Invest Limited, an ambitious real estate consulting and investment firm, is gathering stakeholders in search of explanation, information and solution to some of the nagging problems slowing real estate sector growth in Nigeria.

Set out  to serve real estate owners, investors, and occupiers globally by leveraging strategic and sustainable advocacy platform, 3invest has positioned itself as a one-stop shop for real estate organizations to obtain comprehensive and industry-focused data, statistics, market reports and other resources, and  has done this as an annual ritual through international business-to-business event known as Real Estate Unite Conference.

This year’s event, already slated for October, the company says its focus is on finance, infrastructure, red-tapism and education (FIRE) which Ruth Obih, the CEO, explains that they represent key factors  identified over the years as having the potential to catalyse the industry’s growth.

The real estate market in Sub-Saharan Africa, particularly Nigeria, is an investment destination and, according to Obih, “with Nigeria’s rebased GDP, Sub-Saharan Africa’s real estate market presents an attractive investment opportunity – a portfolio which currently accounts for about 7.6 percent of Nigeria’s GDP and could be as much as 40 percent if better mobilized”.

At an elaborate press conference in Lagos recently, Obih informed that the 2014 conference would provide answers to the FIRE challenge, explaining that through a galaxy of season speakers that have been assembled for the conference, answers would be given to questions like “how finance can be raised for building projects; why infrastructure investing should be addressed; how red-tapism can be eradicated from the housing sector; and what the way forward is for the education sector in terms of investing and security”.

Speakers expected at the conference which will be declared open by Babatunde Fashola, the governor of Lagos State, with a keynote speech to be delivered by Ngozi Okonjo-Iweala, the Minister of Finance, include Hakeem Ogunniran of UPDC; Simon Walley of World Bank; Kunle Osilaja of Ecobank; Hassan Usman Hassan of ASO Savings; Femi Adewole of Shelter Afrique; Olumide Olusanya of University of Lagos,  Chii Akporji of Ministry of Finance; and Sonnie Ayere of the Nigeria Mortgage Refinance Company (NMRC).

On account of its credibility and verifiable impact on the sector and the economy at large, the conference enjoys tremendous industry support and this year’s event is being sponsored by ARM Properties, Gran Imperio Group, Cadwell, Structon Limited, Diamond Bank, UPDC, CMB Building Maintenance & Investment; and Ogun State Property Investment Company (OPIC).

The highlight of the event which would be hosting over 50 products exhibitors will be the launching of African Women In Real Estate (AWIRE) which is to be sponsored by Ajoke Ogunlaja of CMB Building Maintenance and Investment as her company’s contribution to eradicating the bureaucracies that hinder women from actively participating in the sector.

Chuka Uroko