Tuesday, July 23, 2013

3invest set for Real Estate Unite

The Chief Executive Officer, 3invest Limited, Ms. Ruth Obih, has disclosed the firm’s readiness to unite professionals in the built environment at this year’s edition of Real Estate Unite, an annual event aimed at redefining business and investment in the Nigerian real estate sector.

Obih said this year’s edition, which is the second in the series, would seek to answer questions on land use; how to advance real estate for economic growth in the country; the state of airports and railways as well as facility maintenance and the place of tourism and hospitality in the country’s real estate sector.
She said, “Having highlighted the major issues barring our nation’s real estate from reaching its economic potential, we realised that infrastructure and urbanisation is a major driver of emerging markets. Reformation of our laws is the key to unlocking our housing finance sector.

“In order to develop strategies to tackle these issues, we have lined up speakers from key sectors, who are key decision makers and leading opinion shapers.
“We have chosen infrastructure because the potential of real estate, especially commercial hospitality and residential, cannot be harnessed without it.”
According to Obih, the theme of the event holding between October 17 and 18, ‘Advancing Nigeria’s real estate for economic growth’, is designed to expose the prospects of the country’s real estate sector.
She said the award segment of the programme was conceived to elevate standards; while the conference would offer practical solutions through experience speakers; and the international perspective would be projected through the exhibition.

“Last year, we highlighted some major issues at our conference, and our research shows increased activities in the real estate industry since the inception of Real Estate Unite in 2012.
“It may sound coincidental, but the government is recognising and putting real estate at the forefront of the nation’s activities and recognising that unlocking potential in the real estate industry is integral to economic development of the country,” Obih said.

A representative of Diamond Bank Plc, Mr. Anya Duroha, said the bank was focused on mortgage financing in the real estate sector, hence the need to partner with 3invest on the forthcoming conference and exhibition.
“We realised that people need long term financing for housing and we are incorporating that. Our core competence is retail banking and we focus on mortgage with a tenure range of about 20 to 25 years,” he said.