The Nation Newspaper

Category: Building & Properties

  • How to ensure affordable housing, by ministry

    How to ensure affordable housing, by ministry

    Minister of Land, Housing and Urban Development, Dr Akon Eyakenyi has called on the Real Estate Developers Association of Nigeria (REDAN) executive to ensure that  stakeholders maintain quality in pursuit of affordable housing.

    Speaking when the group visited her on Abuja, REDAN President Reverend Ugochukwu Chime, the Minister hailed the transparent process that brought up the  executive. She urged the executive to continue to maintain an open and all-inclusive administrative policy that will benefit stakeholders in the sector. “If you have an open administration, you will succeed,” the minister said.

    While commending the effort of the out-going administration and in particular President Jonathan’s genuine concern and support to the sector, she noted that government is a continuum, expressing hope that the in-coming administration will continue with the laudable programmes and projects in the sector. The Minister further advised the executive to ensure that on-going projects are duly completed, assuring that the Federal Mortgage Bank of Nigeria (FMBN) as a government institution would continue to render relevant financial assistance to developers. However, she admonished that such financial assistance should be well utilized for the benefit of providing affordable and quality housing for Nigerians.

    Rev. Chime commended the Minister for the various strides recorded during her tenure, noting that she has commissioned more housing estates  than any Minister who had ever served in the Ministry, attributing it to her inspirational and outstanding leadership qualities.

     

     

  • Unique exhibition holds

    An opportunity to showcase interior decorations and fittings holds in Lagos next week. The three day event which runs from May 20 to 22, tagged “Unique beyond borders” is the 12th edition in the series packaged by Unique Interiors. The venue is Federal Palace Hotel, Victoria Island, Lagos.

    According to the organisers, each day of the exhibition has its own unique focus. Day one, for instance, has being tagged “Interior Design day for interior design professionals and people looking to have a career in it will benefit from a free introductory course for beginners. The second day designated as “Facility Management day”, will appreciate facility managers and their profession. It will also feature a seminar on the importance of facility management to the industry. On the third and final day, Architects will take their turn as their works and contribution to the built environment will be espoused.

    “The general public is invited to be a part of our seminar sessions to improve knowledge in areas such as safety and healthy living, sustainable buildings, energy efficiency and management, lifestyle, Choosing and using color, improving facility interior life cycle, problem ceilings, setting Ambience, role of good architecture in design,  designing spaces, rejuvenation of aging buildings ,health & wellness . Also career talk for the youth and upcoming leaders on how to improve and stand out amongst peers both in presentation and personality,” a release by the organisers made available to The Nation, read.

     

     

  • Lagos seals off wild animals’ premises

    Lagos seals off wild animals’ premises

    A building in Lagos has been sealed off for allegelly keeping dangerous and wild animals, such as panther, water snakes, giant eagle and crocodiles.

    House 13, Alhaji Abass Street off Adebowale Street in Ojodu Berger, Lagos, was sealed off after it was sanitised by officials of the Ministry of the Environment.

    The property hitherto inhabited by John .A. Adekanbi, was discovered last October  to be harbouring dangerous animals when officials of the ministry were on a House-to-House Awareness Campaign during the monthly environmental sanitation.

    The site is an undeveloped piece of land, poorly managed, filled with dirt, accumulated disused articles and refuses. There are containers filled with stagnant water and unwholesome smells permeate the area.

    According to Dr. Abiodun Afolabi, Director Monitoring, Enforcement & Compliance, who led the exercise, the environmental nuisances discovered include a heap of vegetal waste at the frontal area of the premises, disused furniture items and disused articles overgrown trees within the premises with branches extending over the perimeter fence to the neighbouring compound.

    Other nuisances observed include andinsanitary, improper and dilapidated toilet facility, illegal structure unfit for human habitation etc.

    It was also discovered that some of the animals strayed away,  also posing danger to neighbours and passersby.

    Before the sealing off, officials in the ministry  and Messrs  Origin Gardens, a renowned conservationist, visited the location after which a proposal was forwarded for the relocation of the wild animals to a zoo. Subsequently, an Abatement of Nuisance Notice was issued to the owner,  Mr. John Adekanbi, to sanitise and tidy up the environment of his property within 72 hours.

    Upon the expiration of the notice served and non-compliance by  Adekanbi, the ministry officials with the Magistrate of the Kick Against Indiscipline (KAI) Court conducted a LOCUS-IN-QUO to the property with a view to obtaining a court order to evacuate the wild animals and junks from the premises.

    Consequently, a seal order was placed on the property and the evacuation of the animals and junks within the premises was done by Messrs Origin Garden Zoo and Sanitation Services Department of the Ministry of the Environment.

    However, prior to the evacuation the  government relocated Mr.John Adekanbi, his wife and son to a very befitting accommodation while the evacuation was carried out. It should be recalled that It is against the law to breed or keep at home wild and dangerous animals that can be a threat to human lives.

     

  • Investment in real estate: The REIT alternative

    Investment in real estate: The REIT alternative

    Despite the growth in the real estate sector, things are still not looking up, say participants at the yearly business forum of International Real Estate Federation (FIABCI), Nigeria Chapter, in Lagos,writes MUYIWA LUCAS.

    The gathering attracted heavy- weights and stakeholders in the real estate, financial, investment and allied sectors.

    But this was not unexpected, given the estimated 17 million housing deficit.

    It was a gathering of the yearly business forum of the International Real Estate Federation (FIABCI), Nigeria Chapter, in Lagos, last week.

    The Forum, with the theme: “Real Estate financing in Nigeria: Modalities, opportunities, and challenges” could not have held at a better time considering the much-touted investment opportunities in the real estate sector, especially following the crashing oil price in the international market. Several experts had predicted that the real estate sector is the next money spinner for investors in the country.

    But to the average Nigerian, this may be all talks and no actions. Many reasons, including wrong investment options, and lack of funds, acording to experts in their presentations, may be obstacles to this realisation.

    This position was aptly captured by the Managing Director, First Securities Discount House (FSDH) Asset Management Limited, Mr. Olumayowa Ogunwemimo.

    In his presentation titled: “REIT as an alternative source of real estate financing in Nigeria,’’ he observed that the growth of the real estate sector has mostly been affected by unavailability of funds to finance real estate projects, noting that the complexity and capital intensive nature of real estate developments/transactions demands proper and adequate funding to make it realisable.

    He also noted the major sources of real estate finance in the country to emanate from equities from Real estate developers; private equity companies, insurance companies, governments, individuals, pension funds; primary mortgage institutions, commercial and merchant banks, and development finance institutions. These, in most cases, have proved to be inadequate in supporting the financial requirements of the sector.

     

    The REITs alternative

     

    Ogunwemimo regretted that Nigeria has not fully tapped into the availability of other sources of financing projects in the sector, which would serve as a big complement to the traditional sources of finance to the real estate industry. For instance, he explained that while Nigeria is yet to fully capitalise on the inherent benefits of Real Estate Investment Trusts (REITs), to significantly finance real estate developments, other countries have since keyed into the scheme. REITs are a form of collective investment scheme regulated by the Securities and Exchange Commission (SEC), which pools capital from investors and uses same in the acquisition of income generating real estate, mortgage loans, or a combination of both. The portfolio of underlying assets is placed under professional management to maximise returns to the investors, who are able to hold indirect interest in real estate on a flow-through basis, placing them in a position as if the property were held as a direct investment

     

     

    Types of REITs

     

    Ogunwemimo explained that there are three types of REITs; viz: Equity REITs, Mortgage REITs and Hybrid REITs. He explained that Equity REITs are real estate companies that acquire commercial properties – such as office buildings, shopping centers and apartment buildings – and lease the space in the structures to tenants, who pay rent.  After paying the expenses associated with operating their properties, Equity REITs pay out yearly the bulk of the income they collect to their shareholders as dividends.  Equity REITs also include capital appreciation from the sale of properties in the dividends they pay.  In all cases, this significant dividend distribution is designed to approximate the investment return investors would receive if they owned properties directly.

    Mortgage REITs deal in investment and ownership of short or long-term property mortgages. It loans money for mortgages to owners of real estate, or purchase existing mortgages or mortgage-backed securities. Their income is derived from the interest they earn on the mortgage loans. Both are registered with the SEC, but non-listed REITs are sold directly to investors by brokerage firms and are not traded on any exchange.  Equity and Mortgage REITs also can be privately held.

    According to Ogunwemimo, Hybrid REITs is a combination of the investment strategies of equity REITs and mortgage REITs by way of investing in both properties and mortgages. Their income comes from rentals, capital appreciation, interest, and loan placement fees.

     

    Benefits

     

    REITs has been found to come with alot of benefits. One of this is portfolio diversification, as real estate investment offers an alternative to equities and fixed income securities, especially for investors interested in diversification.

    Liquidity is also another benefit accruable from REITs as it makes for relatively liquid assets (when compared to direct investment in real estate) that can be sold fairly quickly to raise cash or to take advantage of other investment opportunities.

    Since a large percentage of property developers’assets are still tied up in real estate assets, REIT provides an opportunity for such companies to free up this cash and still hold indirect interest in a portion of the assets.

    Accessibility is also a key component of REITs as it allows investors with small amount to diversify their holdings between various geographic areas and property specialisations, among other benefits.

     

    Challenges

     

    Ogunwemimo noted that unlike most countries where REITs enjoy a tax-exempt status when it distributes at least 90 per cent of its income to investors, in Nigeria, the tax laws are not explicit; hence, an unfavourable tax regime.

    Another challenge to this scheme is poor investors’ awareness, as investors in Nigeria have little or no knowledge of REITs.

    Also, Return on investment in REITs is relatively low when compared to risk free government securities, thus making investments in real estate assets unattractive to investors. Equally, the cost of transferring assets from the sponsor to the REIT has hitherto been onerous, constraining the ability of the REIT to generate competitive returns.

    However, with the introduction of the Declaration of Trust  Structure (DoT), there has been a significant reduction in the charges incurred by REITs when transferring the assets from the sponsor to the REIT.

  • We’ve done well, says Bello

    We’ve done well, says Bello

    Lagos State Commissioner for Environment Mr. Tunji Bello has praised the ministry for its achievements under Governor Babatunde Fashola.

    The commissioner, who spoke at the valedictory presentation of his stewardship, said his team was able to ensure a cleaner, healthier, conducive and sustainable friendly environment for Lagosians.

    He said his ministry resolved  to attain a flood-free state, especially after the unfortunate incident of July 2011, when the it was submerged by flood. This, he said, was a thing of the past with the deployment of innovative approach and strategies, including efficient management and preservation of storm water in the state.

    “We are happy to report that through the special grace of God, that of our team of determined engineers, as well as through the collective support and cooperation of Lagosians, the state did not record any flood-related disaster or major incidence of flooding last year,” Bello said, adding that rather, the state got commendations from the Nigerian Meteorological Service (NIMET) as the only state in the country with a deliberate de-flooding programme. He said for this NIMET urged other states to emulate Lagos.

    To this end, the Commissioner said the Ministry has further consolidated on the achievements recorded within the last one year, and, intensified efforts to create a livable city that would be hygienically conducive and enhancing for the socio- economic well-being of the people.

    Bello listed the feats to include the judicious use of ecological funds, especially with the construction of new homes for the homeless at Agbowa, the establishment and sustenance of a cordial working relationship with the Ogun/Oshun River Basin Authourity, which has helped in the control of water release from the dam- thus further aiding the deflooding process and storm water management during the rainy season.

    He noted that the completion of new drainages in areas, such as Lagos Island, Orile Agege, Ikorodu, Alapere, Kosofe, Abule Egba, Agbado Oke-Odo, Ifako Ijaye, Egbe-Idimu Shomolu, Mushin, Itire, Ojo, Alimosho, Eti-Osa and Epe, was impressive.

    “Our Ministry’s enforcement strategies have become stronger and effective though more improvement is envisaged, just as adequate preparation for/during the rains has become standardised,” he said.

     

     

    Bello praised the office of Environmental Services for its efforts at  stabilising environmental management in terms of general monitoring, enforcement, compliance and waste management, saying remarkable achievements have been recorded in Climate Change, as reflected in the ministry’s successful hosting of the seventh edition of the climate change summit recently.

  • Lagos: Counting the gains of climate change summits

    Lagos: Counting the gains of climate change summits

    Lagos State Governor Babatunde Fashola is set to leave a legacy of sustainable environmental management. One of such is the state’s yearly Climate Change Summit, which ended last week.The event was dedicated to examining achievements in the sector, reviewing challenges and setting agenda, MUYIWA LUCAS reports.

    Lagos State has positioned itself as a leader in safe guarding the environment from the effects of climate change. Last week, it concluded its climate change summit, the seventh. This year’s edition was remarkable because it is the last one Governor Babatunde Fashola (SAN) presided over as the state’s chief executive.

    Fashola started the summit in 2009.

    The theme of this year’s edition was  7 Years of climate change Governance in Lagos State, Celebrating success stories, reviewing challenges and setting future agenda.

    According to Fashola, since 2009, the  summit has been the principal vehicle for attracting the required attention to environmental challenges. He stressed the need for humanity to reflect on the threat posed by the increasing world population to the sustainable exploitation and use of natural resources.

    For the governor, the results of the various climate change summits have been very useful to the state government in that it has helped in shaping most of its actions and policies regarding the environment.

    Some of these include the Eko Atlantic City Project, an adapted measure against climate change-induced sea level rise;  improved waste management and transportation;  the Lagos, Akute and Alausa Independent Power Projects which are gas fired, leading to the decommissioning of over 400 diesel fuelled electricity generators; the planting of over five million trees; the creation of over 100 parks and gardens across the state; and the establishment of the Lagos State Parks and Garden Agency (LASPARK), among others.

     

    Technical sessions

    The lead paper titled: “Climate change governance: Challenges and opportunities” was delivered by Director of Research Department on International Politics, Aberystwyth University, United Kingdom, Prof. Richard Beardsworth.

    He emphasised the importance of purposeful leadership to the challenge of climate change.

    The summit had eight technical plenary, with 26 papers delivered by experts from Nigeria, Scotland, UK, France, United States, South Africa, Canada, Egypt, and Cameroon.

    The papers covered various aspects of celebrating success stories, reviewing challenges and setting future agenda. The papers included: Post COP 20 Peru Climate Change Conference; implications for Developing Economy; Sharing Innovative Solutions in Climate Change Mitigation in Africa; From Waste to Wealth; Sharing public private partnership (PPP)-PPP Experience in Establishing and operating material recovery facility in  a developing economy; the Lagos State transportation policy and climate change mitigation and opportunities; mass transportation: the panacea for climate change mitigation in a developing economy; public transportation: role in responding to climate change; adopting green business for sustainability engaging corporate lagos; climate change mitigation: the role of financial institutions; and environmental sustainability in the extractive industry: The case for climate mitigation.

    Other presentations include: building resilience to climate change impacts: batnf and small scale farmers at the frontline; african coastal cities climate change vulnerability and adaptation planning: status  and future plans; climate change policy and sustainable development; community energy as a vehicle for sustainable development and combating climate change; offshore energy for sustainable development in lagos state; turning liability into assets: taming the challenges of sea level rise into a vibrant City.

    The making of Eko Atlantic City; Lagos State Master Plan: Sustaining the Built Environment; among others.

     

    Observations

    The summit observed that climate change is a common global problem in which all states and people are involved as they are all affected, irrespective of the sources of Green House Gas (GHGs). Besides, it also observed that addressing the fundamental challenge of climate change for sustainable development and human survival is borne out of the concern that “nature does not need people, people need nature.”

    Other observations include that sustainability is a new direction for firms to effectively and profitability show-case their environmental consciousness; that there are many opportunities in the future of sustainable development that is imperative for human existence and survival; that green economy makes a lot of business sense and going green is a profitable business. It also provides new opportunity for global cooperation in the area of promoting energy mix, including renewables, for sustainable socio-economic and environmental development.

    Importantly, participants observed that Lagos, as a coastal city, is highly vulnerable to the impact of climate change while rapid and unguided urbanisation, poor institutionalisation of public mass transportation with unsatisfactory commuter/freight demand are responsible for rapidly growing use of private vehicles in Lagos, even as mass transit is a key panacea to the poor transportation system in Lagos State, given the rapid rate of population growth and the desire of dwellers to own their own motor vehicles.

    The summit did not end without applauding the tree planting initiative of the Fashola administration. Participants restated that tree planting is an effective mitigation measure against the impact of climate change. Urban reforestation, in particular, is a laudable approach to improving carbon sequestration and mitigating climate change-induced urban heat island.

    Also, it was observed that climate proofing agriculture and its resilience to variations in climate is critical for sustainable food security in the state.

    More importantly, the Eko Atlantic City Project was applauded as potentially an effective adaptive response to mitigate the impact of climate change on the coastal city of Lagos, and the use of only private sector resources for the execution of the Project is an innovative way to ensure its sustainability; just as an effective town planning is critical to sustainable urban development and making cities climate resilient. The absence of a legally binding policy and action plan on climate change at the state level, participants further noted, is of concern.

     

    Recommendations

    Twenty-five recommendations were made at the end of the event. These include: that government should continue to invest in climate change to promote environmental sustainability and assured future for human existence in the state; that Lagos as mega city must commit to addressing greenhouse gas emissions reduction; including introducing Controlled Parking Zones to deter the use of private vehicles and establishment of carbon registry to monitoring GHG emission levels, among others; that Lagos State should further enlarge its mass transit programme to transit it into an integrated, coordinated and functional public mass transport system, complimentary road furniture’s and a comprehensive urban transport policy driven by empirical research study; that urban development should be controlled through appropriate measures that will reduce dependency on motorised vehicles and reduce the increasing need for urban infrastructure; that Lagos State should continue to showcase the benefits of its tree planting initiative, as a climate change mitigation and adaptation measures to other parts of the country; that the State should look into the feasibility of enriching its remaining forest areas in the context of REED+ to create financial value for carbon stored in forest, address the drivers of deforestation, enhance its carbon sequestration for climate change mitigation, and even provide additional means of livelihoods for the concerned communities; that the State should develop a climate change information management system in which all research outputs are catalogued and widely disseminated on a regular basis; that technology should be put in place to reduce GHG emissions from waste in the State; that youths should be encouraged and involved in the development of climate change mitigation technology; that the State should pursue a strategic alignment with the private corporate organisations in the State in its fight against climate change and promote research, development, demonstration and deployment (RDD&D), particularly in the development of technological response to the challenge.

    Other recommendations include that the Lagos State Green Fund (inspired by the Lekki Free Trade Zone) should be created to leverage funding from all sources – state, federal, bilateral and multilateral financial institutions – to promote green employment generation, investment, and innovation; that the State should establish a Lagos Green Eco-Innovation Forum that will be mandated to spearhead efforts to promote and intensify Nigeria’s (and African) efforts to meet climate change targets and goals through entrepreneurship and philanthropy; government should continue to support the African Coastal Cities Climate Change Vulnerability and Adaptation Planning Project towards making Lagos more resilient; Relevant stakeholders should be involved on a continuous basis in the execution of the Eko Atlantic City Project to ensure sustainability, and the Lagos State should ensure continuity in the implementation of the model city plan within the existing legal framework to further climate proof Lagos, while putting in place a positive, innovative, policy environment and strengthen existing regulatory framework, including tax incentives and governance mechanisms which will promote public and private investment in climate change mitigation projects in Lagos state

    Participants at the summit also recommended that the state government should explore the possibilities of developing a framework for the construction of energy efficient houses for both low and middle income earning residents of the State, urging the government to look into the feasibility of an Energy-Poverty Alleviation Fund to help provide modern energy services to the poor and the needy in the state.

  • Surveyors caution agents on misconduct

    Surveyors caution agents on misconduct

    The Association of Estate Agents of Nigeria (AEAN) has been urged to caution its members against misconduct.

    It also urged agents to imbibe  ethics and operate according to the laws of the Estate Surveyors and Valuers Board of Nigeria (ESVARBON).

    Chairman, ESVARBON, Mr. William Odudu, gave the advice at the first yearly conference of AEAN in Lagos.

    It  had as theme “The public perception of estate agency practice in Nigeria”.

    According to Odudu, the conference, was timely considering that the practice of estate agency by estate agents, estate brokers, property companies, home finders, among others, had been haphazard and fraught with all shades of unethical conducts and unhealthy rivalries.

    “Estate agency business became an open field for the floatsan and jetsam of the society with poor public esteem,” Odudu said.

    He said ESVARBON can penalise any erring estate agent who fails to comply with its regulations.

    Besides, he said, the body would produce a register of estate agents or companies.

    To check estate agents, he said registered estate agents are expected to attend Mandatory Continuing Professional Development (MCPD) workshops, training, seminars and conferences. This is to enable them develop and maintain capabilities to perform competently within a professional environment. To this end, credit points will now be awarded to operators for attendance and participation in approved MCPD, as this will form part of the prerequisites for the yearly renewal of licence for registered estate agents.

    “The business of estate agency is no more business as usual. Today’s annual general conference carries three points and you require about 20 points to qualify for annual licence renewal,” Odudu explained.

    Similarly, the Chairman, Conference Planning Committee, Mr. Boye Ajayi, noted that in the last one year, members of  have undergone series of training programs, workshops and seminars.

    Ajayi said the attention being directed at estate agency practice  had raised the hope that issues of  regulation and control of the sector were receiving attention.

    Specifically, he noted quackery  as serious.

    “It is as serious as fake drugs! Most times, we have read in the newspapers the incidence of fake agents who made away with their clients’ funds,” he said, adding that the conference had helped to focus on re-inventing and re-positioning the estate agent towards achieving global best practices.

  • Lagos hands over rebuilt block

    Lagos hands over rebuilt block

    It was joy galore for owners of Block 6, in Progressive Estate, Iponri, Lagos, when the Lagos State government handed over a brand new house to them.

    The old edifice was dilapidated and had to be pulled down.

    The new building, a block of three-bedroom, six flats, was rebuilt by the Governor Babatunde Fashola administration and haned to the owners free.

    The old structure, built during the administration of former governor of the state, Alhaji Lateef Jakande, under the administration’s low cost housing scheme, had defects.

    According to the owners, the handing over of the new building  ended a tortuous journey of 27 years.

    Recounting their experience, the owners said they sent their first complaints about the defects in 1988, via a letter to the General Manager of the Lagos Building Investment Company Limited (LBIC).

    Ten years later, another letter was sent to the then Military Administrator of the state, Col. Buba Marwa; this was followed by another letter in September 1998.

    But a glimmer of hope appeared on the horizon when on July 21, 2007, a letter they sent to Fashola was acknowledged.

    “The governor (Fashola) acted promptly by sending our file to the Commissioner of Physical Planning for investigation and inspection of the building. From that time, the administration never left our matter; and the result is what you are all seeing today,” the allotees said.

    They expressed appreciation to those who assisted in making their dream a reality.

     

  • Accra, Cape Town, Dakar, others for African Mayor Awards

    Accra, Cape Town, Dakar, others for African Mayor Awards

    THE organisers of the Second Africa Urban Infrastructure Investment Forum (AUIIF) have shortlisted entries for the inaugural African Mayor Awards.

    The awards, which showcases excellence in urban development, will take place in Luanda on  Friday.

    Ana Cândido and Audrey Mpunzwana, said in the ‘Large Metropolis’ category, with one million residents or more, Accra, Ghana; Cape Town, South Africa and Dakar, Senegal were shortlisted.

    In the intermediate, or medium-sized cities category, localities with less than one million and more than 200,000 residents, Kinondoni, Tanzania; Asunafo, Ghana and Bissau, Guinea-Bissau were selected. In the small cities category, for cities with up to 200,000 residents, Arua, Uganda; Bangangte, Cameroon and Praia, Cape Verde made the shortlist.

    The finalists were selected by a panel, which includes Jean Pierre Elong Mbassi, General-Secretary of United Cities and Local Governments-Africa (UCLG-A), Tokunbo Omisore, Chairman of the African Union of Architects, Aisa Kirabo Kacyira, Assistant Secretary-General and Deputy Executive Director for UN-Habitat, Vitor Leonel Miguel, Chairman of the Angolan Architects Union and Gaetan Siew, Chair, Construction Industry Sector of Mauritius.

    They are held with the Second Africa Urban Infrastructure Investment Forum (AUIIF) which discussed post-conflict reconstruction and turning African cities into economic power houses.

    Pedro Pires, former president, Cape Verde and Mo Ibrahim laureate will deliver the Keynote Address at the Forum.

    Under Pires’ leadership, the capital city of the island state  grew and expanded, with investment in urban infrastructure, supported by appropriate housing designed to manage the transition from rural to city life.

    Examples of such innovation and transformational development will be among the themes of the second AUIIF, which seeks to propose the concrete steps to be taken to maximise the effectiveness of urban infrastructure development, from finance through design to implementation.

    The forum will be incorporated in the programme of the Seventh Edition of the Africities summit in December, this year, in Johannesburg, South Africa.

    Publisher of African Business magazine  Omar Ben Yedder, who are organisers, said he was impressed with the calibre of conference speakers.

    He said: “Urbanisation is the development challenge of the next 20 years. Functioning cities create wealth. Unless we plan and think properly about what the future will look like and where our cities fit into this future, we will face immense problems and any retroactive action will prove costly and ineffective.

    The cities shortlisted today are being led by people who understand this and who are making great strides in creating livable cities that are creating wealth. He added: “We are also delighted to have so many dignitaries with us this year which shows that policy makers are taking this issue very seriously, starting with our hosts the government of Angola.”

     

     

     

     

     

     

     

     

     

     

     

     

    The Africa Urban Infrastructure Investment Forum stresses the importance of tapping into both African and international capital to finance infrastructure development, as well as seeking to identify viable and innovative financing models to make infrastructure projects more attractive to investors.

     

     

  • Architects hold conference May 6

    Architects hold conference May 6

    Architects will converge  from May 6-9, this year on the Eko Hotel & Suites, Victoria Island, Lagos to fashion out modalities for growth.

    The event, held by the Nigerian Institute of Architecture (NIA), Lagos State Chapter, has as theme: Lagos 6.0 – The business of architecture.

    Chairman, Lagos NIA, Mr. Ladipo Lewis, said this year’s theme is aimed at discussing key issues and exposing the participants to methodologies and strategies that can be deployed in setting up and running an efficient architectural practice; types of partnerships architects can go into; design and build in the construction industry; office management; joint ventures; marketing of architectural services; winning local and international architectural competitions; architectural practice in foreign countries. It will also expose them to learning being a sole practitioner as an architect, including the new trends in architectural practice, among others.

    To this end, experts in the Business of Architecture from across the country and the world over have been shortlisted to share their breakthrough ideas and wealth of experience with the participants.

    The rapporteurs include Mr. Femi Falana (SAN), Paolo Zilli, Theodore Liebman, Ade Yusuf, O.P.A Ladega, Ibare Akinsan, Tayo Babalakin, Arc. Roti Delano, Olawunmi Agbaje and a host of others.

    The group’s Public Relations Officer, Samson Akinyosoye, said the forum would also provide the participants the opportunity to network with developers, architects and key players in the industry.

    He further said it would position architects to understand the  economic climate, learn about best practices in sustainable development, get leads to developing quality business models, network with key players in the built environment and position their business for the new wave of development opportunities and technology available, and discover innovative methods of development within the current economic climates

    These include product launches, display of products and services, exhibition of architects works, workshops, seminars, advertisement, partnership opportunities, post-conference site tours and others.

    A communiqué will be issued at the end of the three-day event.