Stakeholders in the Nigerian real estate industry gathered for the National House Fair 7.0 on Wednesday, December 1.
The epoch-making event which held at Oriental Hotel, Lekki-Epe Expressway, Victoria Island, Lagos was the maiden edition in Lagos.
Themed Property In A Sachet: Gateway To A Better Life, the event sort to provide a solution to the worrisome housing deficit problem in the country.
Notable among the speakers at the event were the Ooni Of Ife, Oba Adeyeye Ogunwusi, Dr. Olusegun Olufemi Pedro, former Deputy Governor of Lagos State and Economic Adviser to the Presidential Candidate of the All Progressive Congress (APC), Asiwaju Bola Ahmed Tinubu, Sir Olu Okeowo, Chief (Dr.) Olisa Agbakoba among others.
Opening the programme, Chairman of BSTAN Group, Ooni Ogunwusi analysed the lucrative nature of the real estate industry in Lagos, adding that it took him a while to convince the Managing Director of BSTAN Home and Property Limited, Becky Olubukola to host a Lagos edition of the National House Fair.
Ooni Ogunwusi added that the Lekki-Epe Expressway corridor is presently the busiest in real estate investment in the state with an injection of over 20 billion Dollars.
In her opening remark, Olubukola described the theme of the programme as a pocket friendly concept for ownership of land and houses, stating that her company was seriously trying to reduce the housing shortage in the country by building affordable houses.
While acknowledging that the real estate sector is lucrative and prosperous, former Deputy Governor of Lagos State, Olusegun Olufemi Pedro added that it is indeed a problematic industry, opining that a lack of long term loan is the bain of the industry.
Further, he stated that the shortage of capital and high rate of inflation is another problem affecting real estate in Nigeria. Furthermore, Pedro said that to solve the challenges in the industry, the economy has to be fixed, as it is when money flows into the hands of people that they can think of investing in properties.
In her goodwill message, Erelu Dosunmu Abiola called on the government to support the real estate so that it can grow. She discouraged dependence on foreign financial support, describing it as fickle. According to her, foreign investors can support and fail businesses.
In his very short remark, Olu Okeowo said,, “Don’t wait to buy real estate, buy real estate and wait. Real estate can not be lost or stolen, it is about the safest investment in the world.”
Delivering his goodwill message, Olisa Agbakoba who noted that long term finances are not present in the country, called on the government to intervene in the housing situation in the country, stating that there is a need for social housing.
Commending the Managing Director of BSTAN Property, Agbakoba said: “I like her faith, she wants to provide land for the masses, Bstan Homes, I wish you the best, and God bless the work of your hand, and I look forward to you organising bigger event next year.”
One of the highpoints of the event which was also graced by Bashorun JK Randle, Oba Suleman Adekunle Ggabgbade, Oba Adesoji Kehinde, Oba Mufutau Oyekanmi, HRM Rufus Oyewole, Oba Bolaji Alowonle, and HRM Oba Johnson Folorunsho among several others was when Benjamin Masebinu was announced as the winner of a plot of land in Ibeju Lekki, Lagos State. Masebinu won the land in a raffle draw organised by BSTAN Property for attendees of the event.
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