Professionals in the building and construction industry are called to attend the 13th edition of Abuja International Housing Show which is slated for 23rd – 26th July 2019 in Nigeria’s capital city, Abuja.
The Show boasts of a history of hosting the biggest housing and construction event on the continent with over 25, 000 attendants from across the world.
Professionals in the housing and construction industry have been particularly invited to attend this year’s edition because of the opportunity to have access to privileged information on the newest industry trends in the industry as shared by experienced speakers and business executives assembled from all over the world.
According to the show’s convener, Bar Festus Adebayo, the show will feature a CEOs Forum, which will present a learning opportunity for attendants to listen to some of the most successful industry CEOs and professionals from different countries and companies.
“We are very excited about the calibre of CEOs that will be attending this year’s event, and it is a great opportunity for industry professionals to attend and learn how to improve and be in tune with the latest developments in building and construction,” he said.
The show has also been endorsed by a lot of industry stakeholders as a place for professional networking, innovation sampling and product marketing.
Construction professionals are not only encouraged to attend in order to learn new things, but to also meet with industry top dogs and strike business relationships.
The Show will also present Opportunities to introduce and market new products and ideas.
According to Adebayo, it is the greatest platform on the continent to meet the biggest and most trusted buyers and investors.
“A lot of innovators have been able to market and sell their ideas here. Generally, the Abuja International Housing Show is a marketplace of ideas and contact,” he said.
According to him, over 200 estate developers including all leading brands from Lagos, Port-Harcourt, Kano, Ogun and Abuja will be at the show.
The Show will also be attended by top dignitaries like Vice President, Yemi Osinbajo and other international housing stakeholders and companies, and registrations are ongoing.
[9:27 AM, 4/26/2019] Festus Adebayo: 13th AIHS and New Ideas for Financing Affordable Housing
Affordable Housing for all Nigerians will, among other things, be at the core of discussions at the upcoming 13th edition of the prestigious Abuja International Housing Show (AIHS) billed to hold from 23rd to 26th July 2019 in Nigeria’s capital, Abuja.
Nigeria has a low homeownership rate, lower than that of Indonesia (84 percent), Kenya (73 percent), and South Africa (56 percent). The major issues that continue to affect housing in Nigeria include constraints related to the high cost of securing and registering secure land title, inadequate access to finance, slow administrative procedures, and the high cost of land. It is clear that the mortgage finance industry in Nigeria is still in its infancy, targeting primarily high income earners and largely excluding middle and low-income earners. For the majority of Nigerians, mortgage finance is not an option due to the lack of a robust land tenure and financial system, and because loan repayment costs remain prohibitively high.
As a result of the high cost and limited production of affordable housing in Nigeria, an important number of its population lives in rented property which condition varies from shacks to formal housing with highly speculated rent. Neither the government nor the private sector provides sufficient housing units especially for the masses that need and demand it. Formal housing production is at approximately 100 000 units per year and this is highly inadequate because at least 1 000 000 units are needed yearly to bridge the 17 to 20 million housing deficit by government’s target date of 2033.
It is in recognition of these seemingly daunting challenges that the Abuja International Housing Show is being convened. It is a significant platform for real estate companies, mortgage finance managers, housing experts from all over the world and government officials to come together in a marriage of ideas to suggest tested and trusted modalities of solving these age-long challenges.
According to the convener, Bar Festus Adebayo, the show will feature a CEOs Forum, Panel Discussions, Breakout sessions, and individual keynote speakers with the purpose of identifying and analysing the methods of housing finance adopted by the country’s institutions, low income and informal groups in order to recognise the loopholes and suggest better plans.
According to Adebayo, most Nigerians have to rely on informal and traditional home financing options which are largely ineffective. The show will present opportunities for new ideas that wouldn’t only lead to the financing of affordable housing, but a high quality one.
“There are a lot of misconceptions that affordable housing should be equal to sub-standard housing. That is not true. The kind of housing arrangement we are seeking for Nigerians will not only come with quality but must be backed by insurance as well. We also need to address both affordability and accessibility together. We do not only need to sustainably build affordable housing, we also need to create an access to that housing,” he said.
According to Adebayo, a number of issues in the housing sector which includes Property Registration and Title Documentation Uncertainties, Land Use Act, NHF, Infrastructural Inadequacy, Paucity of Long Term Funds, High Cost of Building Materials, Enforcing Foreclosure, Nigeria Taxation System, Construction Method and Permits Issue among others will be extensively discussed with inputs from both public and private sectors.
This year’s event is highly anticipated because of the number of stakeholders that will be coming from over 20 countries with ideas and innovations.
According to Adebayo, over 200 estate developers including all leading brands from Lagos, Port-Harcourt, Kano, Ogun and Abuja will be at the show, not to mention the ones coming from countries like USA, Britain, UAE, South Africa, Ghana and Kenya.
The Show will also be attended by top dignitaries like Vice President, Yemi Osinbajo and other ranking international housing stakeholders and companies, and registrations are ongoing.