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FIABCI Nigeria Plans Property Market Scorecard

The Nigerian Property Scorecard, an assessment of the growth-rate in the nation’s real estate landscape, will be a new component of the Nigerian chapter of the International Real Estate Federation’s annual recognition of players in the sector.

FIABCI is the French acronym for “Federation Internationale des Administrateurs de Bien-Conselis Immobiliers”, which means “The International Real Estate Federation”. In its 61 years of existence, 47 years in Nigeria, FIABCI has built an enviable reputation. It represents the world’s real estate professions through its Special Consultative Status with the Economic and Social Council (ECOSOC) of the United Nations Organisation.

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FIABCI’s role in the United Nations is to make recommendations and provide advice on matters such as property rights, housing for the poor and money laundering.

With chapters currently operating in more than 60 countries, including Nigeria, FIABCI represents every discipline in the industry and links thousands of real estate professionals worldwide.

Members of FIABCI, in all the countries they exist, organise World Prix D’excellence Awards annually during which the unique award is given to the real estate projects that embody excellence in all disciplines involved in their creation.

President FIABCI-Nigeria, Mr. Adeniji Adele, at a press conference, said they have resolved to include in their World Prix D’excellence Awards a session for the presentation of the nation’s real estate scorecard.

Thus, he said this year’s forum, which is slated for January 25, with the theme ‘Ease of doing business’, would have a morning session for discussions and presentation of the Nigerian Property Scorecard, which Adele said was designed after the International Property Markets Scorecard methodology, as developed by the Centre for International Private Enterprise and IHC Global.

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Adele, who had with him the Vice President, Gbenga Ismail; Secretary General, Ayodeji Odeleye; and Treasurer, Akin Opatola, said they would discuss the property component of the ease-of-doing-business in Nigeria.

He added that FIABCI Nigeria would present the property scorecard in Nigeria continually until professionals in the industry did the right thing as a rule.

Another aspect to be discussed at the forum is the importance of attracting off-shore funds to local projects, according to the Vice President, Mr. Gbenga Ismail.

He said, “The scorecard will give us the core elements that Nigeria must score high on. In spite of the challenges of doing business here, there are a lot of opportunities. We just need to change out mind set.

“The core elements of the scorecard have financial transparency because we have to fight for financial stability too. It will help us to raise questions to the policymakers who will be present to address investors’ confidence.”

He said the Senior Special Assistant to the President on Industry, Trade and Investment in the Office of the Vice President, Dr Jumoke Oduwole, would be the guest speaker while the Lagos State Commissioner for Housing, Mr Gbolahan Lawal, would be the special guest of honour.

Chairman, Honeywell Group, Dr. Oba Otudeko as well as the World President, FIABCI International, Mr. Assen Makedonov, among others would also be in attendance.

The award categories are in affordable housing, hotel, retail, sustainable development, mixed use, residential housing both mid-rise and high-rise, office and industrial development among others.

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