Maureen Ihua-Maduenyi
The Chief Executive Officer, 3Invest, Ruth Obih-Obuah, has said the real estate sector can fast-track the growth of the nation’s economy if adequately structured.
Obih-Obuah spoke ahead of the seventh edition of the Real Estate Unite Summit, which is being championed by 3Invest.
She said, “Undoubtedly, it is the most transformative sector of any economy and one of the most effective tools for poverty alleviation and job creation. Contributing meaningfully towards the vibrant development of the Nigerian economy, the sector is capable, if adequately structured, of fast-tracking economic growth and development, coupled with high level of massive employment creation, thereby creating a better and sustainable future development.
“However, there is a need to track this economic dynamism and advocate policies that will address the many challenges inhibiting this lucrative sector from reaching its full potential.”
She stated that the future of the property market and how to unlock the advantages that abound in the real estate industry would form the basis of the summit scheduled to hold in Lagos on September 17.
Obih-Obuah said over the years, Real Estate Unite had gathered different levels of stakeholders, but that this year’s edition would host one of a kind Industry “town hall format” tagged ‘The conversation summit’, where stakeholders in the public and private sectors, industry players, legal practitioners, investors and other individuals would engage in robust discussions on the issues that concern them, as well as how to unlock a number of the bottlenecks stifling the real estate sector in the country.
She said the summit would address key issues, including connecting the dots between policy framework, legal and regulatory issues, and real estate growth in the country; the future of real estate exploring technology as an innovative and transformative tool; and the real demand for commercial real estate in the country, among others.
Partner, Adekunle Omotola and Co., Kunle Omotola, said there was a need to think wider and strongly advocate collaboration between the public and private sectors.
“It is our duty to make the government see that we are innovators, giving them vital reasons why they should collaborate and making it clear that real estate is a transformative industry with potential for alleviating poverty and creating jobs,” he stated.
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