Broll leads support for WAPI summit as stakehoilders seek change in WA narrative
by CHUKA UROKO
November 15, 2017 | 12:25 am| | | Start Conversation
The West Africa Property Investment (WAPI) summit, holding for the first time in Nigeria, has been scheduled for the last week of this month with Broll Property Services taking position as the Platinum Sponsor of the annual event.
When real estate professionals, investors, enthusiasts and sundry stakeholders gather for the summit in Lagos, the focus and direction of discussion will be on ‘changing the West African narrative’.
They will be discussing and sharing insights on the challenges facing investors and occupiers in the region. Topics such as unlocking capital markets, growth of retail as seen in the development of new shopping centres, student housing as well as property and land valuations will be talked about.
“The property markets in West Africa keep expanding and investors see opportunities in what is, by global standards, still an immature and emerging market”, says Bolaji Edu, Broll CEO, pointing out that conferences such as this one enable topical and relevant issues to be discussed, thus helping to improve the transparency, professionalism and knowledge base of investors, developers and occupiers.
Broll, he noted in a statement obtained by BusinessDay, is proud to be the Platinum Sponsor for the third year running. “The summit provides a platform for industry experts, property professionals and thought leaders to discuss key issues relating to real estate investments in West Africa”, he said.
Edu believes that the economic improvement and stability in the foreign exchange market has brought improved confidence from corporates looking to take up new space and investors/developers. “There is confidence that the recent fall in rental levels may have begun to bottom-out,” he said.
Edu will be speaking at the summit alongside Gavin Cox, Broll’s Head of Retail Management and Retail Leasing, and Nnenna Alintah, Head of Occupier Services. “Corporate real estate services strategy is key to any property investment business and it requires paying attention to every detail before decisions are made”, Alintah noted, adding, “we are currently working on an occupier service snapshot report on West Africa and this will be launched and discussed at the summit”.
Cox revealed that “one of the issues we intend to highlight at the summit is the investors’ choice of either high street or shopping centre retail; some experts believe that high street retail has more visibility when compared to being located within a mall.”
He noted that the retail sector in Nigeria was facing tough times and, as a result, international retailers wanting to enter the country have since adopted a ‘wait and see’ approach in the light of the prevailing market conditions. Cox and his panelists will uncover some of the trends in the retail sector in addition to a discussion on mall versus high street.
“In addition to understanding the long-term growth potential of the retail sector, Nigeria is also seen as a much easier market to expand into compared to other western markets,” he informed.
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