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Why Cosgrove Investment Limited was honoured by the Nigeria Housing Awards 2019

Cosgrove Investment Limited was among the reputable companies honoured for their outstanding performances at the 2019 Nigeria Housing Awards, which marked the end of the 13th Abuja International Housing Show.

At the event, Cosgrove Investment Limited was presented with the ‘Best Residential Real Estate Developer in Sustainable Smart Development and Customer Experience Initiative’ award.

This was in recognition of their uniqueness and foray into smart city developments in the country.

The company has unveiled some smart city projects including a Smart Estate located in the Wuye axis of Abuja Nigeria.

According to the Chairman of Cosgrove, Mr. Umar Hadeija, the development was established to help expand the frontiers of real estate in Nigeria and bridge the housing gap in the Federal Capital Territory.

The Cosgrove’s Smart Estate has 150 housing units of various types with a mix of 3 to 5 bedroom flats, terraces and fully-detached buildings each providing a perfect balance of safety, accessibility, privacy and functionality.

The project is making a new statement through a product and service, as the world expects something innovative and unprecedented.

The future-ready’ gated estates as described by the Chairman represents a future driven by innovation and offers ground-breaking solutions that would change the course of industries, communities and societies.

Cosgrove Investment Limited is a real estate development and general construction company, focused on pioneering the integration of technology and automation into residential and commercial real estate using sustainable methods. Led by a core team of highly regarded real estate professionals, developers and investors, they are at the forefront of disruption in the real estate industry in Africa. The Cosgrove brand is a guarantee of integrity, professionalism, and reliability – equal to the best obtainable anywhere in the world.

The Cosgrove core team consists of highly respected individuals with years of experience and a solid reputation built on professionalism, integrity, and commitment to delivering value for all stakeholders.

At the heart of Cosgrove is a deep commitment to delivering a seamless and straightforward experience for each and every Cosgrove customer. They believe this is essential to positioning the Cosgrove brand as a true leader and innovator in its market segment.

The Nigeria Housing Awards is dedicated to rewarding excellent performers in the housing and construction sector and to inspire creativity and the kind of hard work that will drive affordable housing in Nigeria.

A Review of 13th Abuja International Housing Show – AIHS 2019

The 13th Abuja International Housing Show was the most anticipated event of the year 2019 as stakeholders from at least 15 countries converged in Nigeria’s capital city, Abuja to learn, network and exhibit latest innovations in the industry.

The 4-day event had up to 30, 000 visitors and participants seeking better opportunities to own a home, have access to affordable mortgages, meet influential stakeholders, make purchases at exhibition rates and acquire important knowledge.

This report will feature the build-up to the event, the event itself, important details, conference recommendations and a breakdown of facts and figures about the event.

Pre-event Activities

Massive publicity for the event began in January 2019, featuring television, radio, print, billboards and social media campaigns, raising awareness about the show and its core values. The impressive pre-event campaigns had a lot of people in anticipation, and this led to a very huge turnout.

Event Registration and Sponsorships

From at least 5 months to the event, participants, visitors and partners including exhibitors and speakers had commenced registration and confirmation of event sponsorship.

Opening of Venue and Construction of Exhibition Stands 21st – 22nd July

As from 21st of July 2019, the venue, International Conference Centre opened for commencement of construction and setting up of halls, exhibition stands and sit-outs. The vigorous exercise produced a very beautiful setting and lasted till 22nd – the eve of the event.

Day One (1): Opening Ceremony – 23rd July

Africa’s largest show in housing and construction – Abuja International Housing Show (AIHS) featuring conferences and exhibition was declared open on the 23rd July 2019 by the chairman of the occasion, Arc. Ibrahim Bunu, Former Minister of the Federal Capital Territory, who urged participants to seize the opportunity provided by the show to improve affordable housing delivery in Nigeria and Africa.

Top dignitaries attending the opening ceremony included the Senate President of Nigeria, Ahmed Lawan (represented); Debra Erb, MD OPIC; The Head of Service, Oyo-Ita; Suleiman Hassan, Former Minister of Environment; Festus Adebayo, MD/CEO AIHS; Kecia Rust, Executive Secretary, AUHF; Femi Adewole, MD Family Homes Funds; Andrew Chimphondah, MD/CEO Shelter Afrique; Obadiah Mailafia, Former Deputy Governor, CBN; and many more top local and international stakeholders too many to mention.

The opening ceremony was streamed live on national television and covered by all reputable media houses in Nigeria.

The exhibition stands were also officially opened for business and guests and all categories of visitors trooped in to see for themselves.

Special Recognitions

Some notable personalities were also honoured with special recognition awards of excellence at the opening ceremony.

The awardees included Hanatu Fika, Outgoing Executive Secretary, Federal Government Staff Housing Loans Board; Town Planner Umar Shuaibu, Former Coordinator, Abuja Metropolitan Management Counci; and Debra Erb, MD of Overseas Private Investment Corporation (OPIC).

Conference: Theme and Activities

There were over 30 speakers from at least 15 countries at the event. The speakers who are drawn from reputable institutions like mortgage banks, real estate companies, housing regulatory agencies, construction companies, housing finance firms etc. and from various countries including USA, UK, South Africa, Kenya, Morocco, India, China, UAE, Ghana, Rwanda etc. spoke on the theme; ‘’Driving Sustainable Housing Finance Models in the Midst of Global Uncertainty.’’

Leading conversations on the first day were notable paper presentation and speeches from the Senate President, Head of Service, Governor of Bauchi state, Bala Mohammed (represented), Governor of Edo state, Godwin Obaseki (represented), Debra Erb of OPIC, Festus Adebayo of AIHS, Femi Adewole of Family homes Funds, Andrew Chimphondah of Shelter Afrique, Emmanuel Akinwumi of AfDB, Roland Abonta of NIESV and many more.

The well received presentations were focused on the theme and subjects around it including the role of monetary policy in housing finance and development; project finance for large scale housing – OPIC approach; closing the gap in affordable housing production: increased efficiency and cost; building a global framework for foreign investments in Nigerian housing market etc.

The CEOs Forum and three (3) panel sessions focusing on alternative investment options for housing growth and development followed.

The sessions were moderated by Hakeem Ogunniran, CEO of Eximia Realty.

Day Two (2): Conference and Exhibition – 24th July

Day Two of the event continued with the conference, CEOs Forum and panel sessions featuring top CEOS and speakers including Robert Hornsby of American Home Builders of West Africa; Ugochukwu Chime of REDAN; Mounia Tagma of Affordable Housing Institute; Kecia Rust of AUHF; Sa’Adiya Aliyu of Urban Shelter; Prof Charles Inyangete, former MD of NMRC; Ahmed Dangiwa of FMBN; Afolabi Imoukhuede, SSA to the President on Job Creation; Robert Plattner of Hydraform; Banjo Obaleye of Infinity Trust Mortgage Bank; Hakeem Ogunniran of Eximia Realty; Mr P. Bhaskar Rao of Royal Ceramics; Sam Odia of Mmillard Fuller Foundation; Prof Timothy Nubi; Jide Odusolu of Octo5 Holdings Limited; David Gardner AUHF etc.

The well received presentations were focused on the theme and subjects around it including housing construction case studies; low cost housing; harmonising Nigeria real estate sector for enhanced socio economic development; moving from luxury homes provision to affordable housing delivery; the role of housing in job creation; foreign capital for housing finance in emerging economies; data and analytics; innovations in residential housing development; democratising mortgages; mortgage consumer education and many more.

The sessions were moderated by International mortgage expert, Kunle Faleti, David Gardner and Jumoke Akinwumi.

The exhibitions were holding simultaneously.

Day Three (3): Conference and Exhibition – 25th July

Day Three of the event started with a breakfast meeting between the overseas team of African Union of Housing Finance (AUHF) led by Kecia Rust. Also at the breakfast meeting were Kehinde Ogundimu of NMRC; Niyi Akinlusi of MBAN; Hakeem Ogunniran of Eximia Realty; Festus Adebayo of AIHS; Robert Hornsby of American Home Builders of West Africa; Kunle Faleti; and a couple of other stakeholders.

The purpose of the breakfast meeting was for the AUHF to enlighten the stakeholders about their responsibilities in providing housing finance on the continent and on the need for more Nigerian presence in the South Africa based association. The session also featured elaborate conversations about ongoing collaborations, including the one between NMRC and AUHF and the need for more of such collaborations, especially with regards to data access.

Shortly after, the event continued with the conference, and panel sessions featuring top CEOS and speakers including David Gardner; Jide Odusolu; Adedeji Adesemoye of CBN; Ifeoma Okoye of Brains & Hammers; Roland Igbinoba of Proptech; Isoken Omo of Edo Development Property Authority; Joshua Egbagbe; Eucharia Alozie of Ministry of PWH; Muktar Aliyu; Prof Charles Inyangete; Bob Weinschenk of iBuild and others.

The well received presentations were focused on the theme and subjects around it including addressing housing demand in the face of growing joblessness and income inequality; addressing supply side issues; green and energy efficient housing; cooperative housing, and proptech.

The sessions were moderated by Jide Odusolu, and Robert Hornsby.

The exhibitions were holding simultaneously.

Day Four (4): Artisans Day and Nigeria Housing Awards Dinner – 26th July

26th of July was the climaxing day of the 13th Abuja International Housing Show. The day’s events commenced with the national union of Artisans who were given educational support speeches on how to improve their skills, compete with global counterparts and make the most out of their skills.

At the aside of the event was a MoU signing agreement with Family Homes Funds – a federal government social housing scheme intent on building up to 500, 000 houses for low income earners by 2023.

The exhibitions were holding simultaneously and only came to an end by 6:00 PM to mark the beginning of the Nigeria Housing Awards.

Nigeria Housing Awards 2019

Nigeria Housing Award is an annual event that celebrates the successes of firms, individuals, teams, or companies who are setting trends in innovative construction, consistency in high industry standards, market expansion and are engaged in the development of the national economy to a large extent. The NHA is a way of endorsing abilities and rewarding achievements; this event is widely regarded as the most credible and prestigious award in Nigeria’s Housing Industry. The event typically marks the end of the Abuja International Housing Show.

The Nigeria Housing Awards and Dinner was well attended by all leading stakeholders, CEOs and companies in the housing and construction sector present to celebrate each other’s successes in the past year.

The colourful event had a lot of special moments including the surprise award for the CEO of Abuja International Housing Show, Festus Adebayo by Royal Ceramics.

Before that, the CEO of Royal Ceramics himself, P. Bhaskar Rao had won CEO of Building Materials Company of the year award. The award for Best Innovation in Housing and Construction Industry 2019 went to Echostone International. Sam Ogrih won the CEO of Real Estate Company of the Year, while AFP Furniture was crowned Furniture Company of the Year. Town Planner Murktar Galadima won Town Planner of the Year. The Affordable Housing Promoter of the Year (organisation) went to Family Homes Funds, while NMRC won the Housing Market Information Data Recognition Award. A Lifetime Achievement Award was conferred on Prince Seyi Lufadeju. CEO of Government Owned Housing Agencies of the Year was Isoken Omo, CEO of States Owned Housing Agencies in Nigeria. Kunle Faleti won the Affordable Housing Advocacy Award (Diaspora), while Toye Eniola, Executive Secretary, Association of Housing Corporation of Nigeria won the Affordable Housing Leadership Award. Affordable Housing Policy Driver Recognition Award went to the distinguished Professor Charles Inyangete. Urban Shelter won Estate Developer of the Year. Hydraform international ltd won an award of promoter of affordable housing of the year (construction) 2019. Roland Igbinoba of Proptech won the Housing Data Recognition Award, while Arc. Adewumi Okupe won Affordable Housing Advocacy Promoter of the Year Award. Pan Africa award of Affordable Housing Promoter of the year went to Shelter Afrique.

Many more awardees included Cosgrove Investment Limited going away with the award of Best Residential Real Estate Developer in sustainable smart Development and customer experience initiative.

The highlight however was when Mr Rao of Royal Ceramics invited CEO of Abuja International Housing Show Festus Adebayo to the stage for a surprise award. The fulfilling night was a mix of soothing music, choreography, dining, wining and laughter.

Top 10 Recommendations from the 13th AIHS

Upon the completion of the event, participants, speakers, developers, and heads of all housing bodies at the event agreed on a number of sustainable and important interventions that will bridge the housing gap in Nigeria.

Below are selected 10 out of these resolutions that have been presented to the government and its several housing agencies for implementation.

1. Creating enabling policies around land title documentations, with government playing a larger role in assisting investors and supporting local building industries and materials.

2. Fast track the passage of foreclosure bill into law to legally resolve default issues in the sector. Also the review of land use act of 1978, Federal Government Housing Loans Board bill (FGHLB), the National Housing Fund (NHF) Scheme Act 1992, Mortgage Banks Act 1989 (subsumed in BOFIA), Federal Mortgage Bank of Nigeria (FMBN) Act 1993, The Trustee Investment Act 1962, The Nigeria Social Insurance Trust Fund (NSITF) Act 1993, The Insurance Act 2002, The Investment and Security Act 1999, The Federal Housing Authority (FHA) Act 1990, Securitization Bill amongst many others.

3. Advance the ongoing partnership between Mortgage Banking Association of Nigeria (MBAN) and the Central Bank of Nigeria (CBN) with regards to the underwriting standards which can increase housing and mortgage affordability for the masses.

4. Building the right skill ecosystem through job-driven training programs spearheaded by private sector industry participation for adoption of trainees.

5. Institutionalisation of collaborations and partnerships between large scale industry players to enhance mass housing provision and affordability.

6. Creating standard data base in African countries especially in Nigeria that can be universally accepted to collate data, identify data gaps, integrate, optimise and expand knowledge set to meet current demands.

7. The policy creation, adoption and financing of sustainable buildings that utilise green approach in construction which integrates topography into developments.

8. To set up an institution such as a National Housing Council to be the focal point for housing research, policy development and implementation, development of suitable housing economic models that fits into local contexts and monitoring of the housing sector.

9. The adoption of high impact training that supports research and data generation by major stakeholders within the industry.

10. To resolve the challenges of affordability mismatch resulting in unsold and unoccupied developed houses especially in our major cities, there is an urgent need for paradigm shift from market driven pricing system to end user driven pricing to ensure houses are provided for those who need and could afford them. (Extract from 13th AIHS communique, 2019).

Facts and Figures about 13th AIHS

Below are key facts and figures pertaining to the 13th Abuja International Housing Show 2019:

Facts
• The biggest housing and construction show in Africa
• Biggest stakeholders’ networking platform
• The biggest exhibition event for housing, construction and finance companies and brands
• The most influential event for public policies, especially in the related sectors
• The event featured a special CEOs Forum comprising of the most influential local and international leaders in the housing, construction and finance sectors
• All papers and speeches presented at the 13th AIHS are available on the AIHS website

Figures
• 1 venue (International Conference Centre, Abuja)
• 4 days event (23rd to 26th July 2019)
• 10 major conference recommendations
•12 conference sessions
• 13th year running of the show
• 15 participating countries
• 30 international speakers
• 45 panellists
• 400 exhibitors
• 40, 000 visitors and participants

EXHIBITORS AT 13TH AIHS

The exhibitors at the 13th AIHS are too numerous to mention, but some of them (in no order) includes companies from China, UAE, Turkey, Italy, India, Turkish Quality Nigeria, Royal engineered stones limited, Urban Shelter, Echostone, Brains & Hammers, Family Homes Funds, NMRC, AFP Furniture, CDK, iBuild, FMBN, MIXTA Africa, AUHF, Nigerite, Solignum, Shelter Afrique, Earthpoint Modern Shelter, IFC, Hydraform, Copen, Cosgrove, FGSHLB, Wiser estates, MBA Forex, Plusworld, OPIC, Haven Homes, AMMC, ITMB, Delta mega trend limited, Lubrizol, Rural Homes limited, APDC, Peachville platinum, SPS, Wallpaper world, windows blinds, Net construct, formul, GVE, Niger state housing corporation, weatherguard, c-stemp, elinuol, interrand, Nigeria pipes, Plascon, Post service housing development limited, skylum, Eisenkraft, Maldini granites, Picadilly paints, Wavin, Flexi clay, Kabba, Builders stop center, PGL, Big homes, FGMB, Zobis, Norton, Hared, Leisure court, Efab, Bstan group, FTS, Ponglomerape, Constrix, Naval Building and construction company limited, Cherry hill, Onduvilla, Solartime, Olat, Midel Group, AMCON, Armese, Berger paints, JEDO, Silkcoat, FISH, Alaro city, Nuel Osilama Global Investment Limited, Voda paints, ABUMET, Realtypoint, Trustbond mortgage bank, PIL, Ellington, International lift and elevator, earthpoint, Aiben, Lasercraft, New cruise, A quapipe, Fabcom, Feratto, Cutix, Shandong Jiacheng Stone, Denam, GOFA, FA’AL, Uche silver international limited, Periwinkle residences, Highbright roofing, Lannik beauty, CAP Plc, AHCN, Sweethome, Bluestar, Asba and Dantata, Countrywide, Happy home, Prime properties, Octo5, Eximia, MBA Forex, Holborn and many more.

What Stakeholders Said about Successful 13th AIHS 2019

At the end of show, it was largely commended for setting the right tone for housing development in Nigeria and Africa and how it has cemented its place as a truly international platform for stakeholders.

For Debra Erb, the MD of OPIC who was attending for the first time, the Abuja International Housing Show has set a standard and requires more collaboration from government and private players.

‘’This show gives stakeholders a chance to gather and figure out ways to solve the affordable housing needs of people in Nigeria and Africa. The first thing to do about solving the affordable housing needs is talk to the actors, and this is what the Abuja International Housing Show is about. It is an impressive platform,’’ she said.

Also speaking on the significance of the show was Kecia Rust, the CEO of African Union for Housing Finance, AUHF.

‘’I thank the Abuja International Housing Show for this opportunity to showcase our organization and motivate for increased Nigerian participation in the network. You are doing a tremendous job for housing in Nigeria! Thank you for making the space for so many to collaborate with one another,’’ she said.

The Chief Executive and Managing Director of Shelter Afrique – the pre-eminent Pan African Housing Development Financial Institution – Andrew Chimphondah also had glowing words of praise for the 13th Abuja International Housing Show and its organisers.

‘’On behalf of the Board and Management of Shelter Afrique, we would like to thank you for including Shelter Afrique in this very auspicious Abuja International Housing Show (AIHS) to provide a key note address. We benefited from the strong networks that were created between Developers, Investors, Funders, Regulatory Authorities and all stakeholders in the Real Estate and Housing Sectors. Rest, assured that Shelter Afrique is re-energized in its quest in fulfilling its vision of providing decent and affordable housing for All Africans.

‘’We believe that with the shortage of Housing in Nigeria up from 17 million to 22 million in 2019 and the estimated shortage of Housing now up from from 51 million to 56 million. We can aspire to reduce it, because to eradicate it would require funding of US$1.4 trillion as a minimum.

‘’Let us continue as fellow housing activists to advocate through the Abuja International Housing Show for an eradication of this scourging housing deficit so that our fellow brothers and sisters can live a dignified life as a basic human right.

‘’I want to also commend the living legend, Festus Adebayo, for his selfless contribution in advocating the need to seriously address the housing crisis.

While speaking with Housing News, the retired officer who started Nigerian Army’s first housing cooperatives said that the 13th Abuja International Housing Show was phenomenal.

‘’I recall when the show started 13 years ago. It was quite small. It started with a really humble beginning. I am impressed to see the scale and the quality that it has come to be today. Of course there is room for improvement, but what we have seen today is phenomenal. It is quite clearly moving towards becoming the largest housing show that it portends to be in Africa,’’ he said.

For Anders Lindquist of Echostone, the 13th Abuja International Housing Show is the most significant highlight for their company and what they stand for.

Speaking on his impression of the show, he said; ‘’I was so moved by the reception we’ve received during our time at AIHS. I feel that EchoStone must say thank you for allowing us to share in this monumental event. Your hospitality has been instrumental in our success at the show. We’ve made far reaching connections in affordable housing, which offer the potential to bring over a million affordable homes to Africa – not to mention the massive amount of jobs that will follow.

‘’Without a doubt, the attendees of this conference have been some of the most dedicated, enthusiastic, and engaged of any that we’ve attended. Our entire company owes you a debt of gratitude for allowing us to present on two panels and participate in and outside the conference walls.

‘’Thank you for helping us to change the housing development landscape and join in this celebration of innovation. It has given our entire team a vision of our future in Africa that has inspired us all.

‘’So, again, I extend our sincerest thank you and look forward to the continued success of the AIHS conference, its participants, presenters, visitors, and yourself. I hope that it inspires us all to support and encourage one another toward successful and prosperous future for all of Africa. This is from me and the whole EchoStone team.’’

Robert Hornsby, Co-founder, American Home Builders of West Africa also commended the organisers for convening what he calls the most important platform for discussing affordable housing and associated issues in Africa.

On her part, Mounia Tagma of Affordable Housing Institute Morocco lauded the wonderful contributions of Abuja International Housing Show over the years in terms of how its bring together global stakeholders from public and private sectors to learn from each other, network and collaborate on projects that matter to them.

While speaking during the CEOs Forum of AIHS 2019, Hon. Abu-bakar Saddique Boniface, Minister of State, Ghana, said that the show is playing a critical role of tasking private sector stakeholders on their most important responsibilities.

‘’The private sector should be more positioned so that the government can always look to them for policy advice. The private sector are and should be the engine of the economy, and I appreciate how this show is representing that fact,” he said.

It wasn’t just the speakers that have good words for the show, Bhaska Roa of Royal Ceramics – one of the biggest exhibitors at this year’s show appreciates the show for offering them the opportunity to meet with industry leaders, buyers and respectable clients that has enhanced their business operations.

The impact of the Abuja International Housing Show is so much that Bhaska Rao and his Royal Ceramics team had to present a special award to the CEO of AIHS, Festus Adebayo at the closing ceremony on 26th July 2019.

The CEO of iBuild Global, Bob Weinschenk also appreciated the opportunity for stakeholders to focus on the most pressing issues in housing through AIHS.

Final Notes from Festus Adebayo, CEO of Abuja International Housing Show

On a final note, the CEO of Abuja International Housing Show, Festus Adebayo was full of appreciation for all participants, speakers and exhibitors from all over the world who came to be part of history at this year’s epic edition of the annual housing and construction show.

Festus Adebayo said he was very pleased with how the flagship show has metamorphosed into an all professionals affair. ‘’The platform is now more for professionals who are capable of solving the housing problems in Africa. While I am happy about that, I will be the first to say that more still needs to be done in ensuring that all the points raised during the show are put on the table for the government to start acting on those recommendations immediately.’’

Speaking in retrospect, he said that he believes that the goals set for the 13th AIHS which was to reveal alternative housing finance models have been considerably achieved.

‘’We wanted stakeholders to leverage on their experience and reveal more options for financing affordable housing in Nigeria and Africa. Luckily, we had the likes of Debra Erb, Kecia Rust, Hornsby, Lindquist and many more presenting sustainable alternatives for achieving this goal. A lot of stakeholders were fulfilled by the outcome of this year’s event with regards to how to reposition the sector.’’

He also said that the political will of the government should be seen in the removal of duties on building materials in order to enhance affordability.

‘’We can’t be talking of affordable housing if there is still heavy duty for building materials when our own steels rolling mills are not even working. Even if there is monopoly in the local manufacturing of materials like cement, government needs to intervene to reduce the cost for builders,’’ he encouraged.

The CEO assured stakeholders that every point raised by them will be put into action. ‘’In the next few weeks, all resolutions will be compiled and forwarded to whoever becomes the Minister of housing, the Presidency, Senate President, Nigeria Economic Summit Group, the Governors Forum, state Commissioners, NGOs, MBAN, REDAN and all professional bodies in the industry.’’

He urged everyone to look forward to an even bigger AIHS in 2020.

Source: Housingnews

13th AIHS: How To Attract Foreign Capital for Housing Finance in Nigeria – Sade Hughes

Speaking at the 13th Abuja International Housing Show that held from 23rd to 26th July 2019, Sade Hughes of Mixta Africa said that while access to housing is an unprecedented global challenge growing fast with rapid urbanisation, the housing problem is more pronounced in emerging markets across Africa, Asia and Latin America.

According to her, the biggest challenges faced by emerging markets like that of Nigeria are fragmentation and inability to meet unprecedented volumes of housing deficit; Inability to align stakeholders and catalyse grassroots impact; challenges in making the economics work, and in a number of cases, housing initiatives are driven by governments who face enormous treasury challenges.

Foreign Direct investments, as important as they are, she said, are attracted more by regions where domestic capital is already being applied to unbridle the potential in these economies.

“In addition to strong economic fundamentals, local capital is required to de-risk opportunities and prove their viability to international investors

“The application of local capital ahead of FDI plays an important role for the sustained growth of local enterprise in an economy,” she said.

According to her, transforming the huge need into bankable opportunity will require public and private sector involvement

“FDI has to be deployed in key areas of the value chain to have the most impact in order to stimulate home production and ownership.

“Foreign capital when applied appropriately can improve an economy’s capacity to create affordable mortgages.

“The creation of mortgages has a huge multiplier effect in stimulating the production of lower middle income and affordable housing because it gives investors a clear exit path.

“Foreign capital is better attracted to opportunities where local capital (public or private sector) has been used to de-risk them.

“Macro economic policy that support liberalisation play an important role in attracting foreign capital inflows,” she said.

By Ojonugwa Felix Ugboja

13th AIHS: Prof Inyangete Charge Built-Environment on Financing Sustainable Buildings

While speaking at the 13th Abuja International Housing Show (AIHS) which held from 23rd to 26th July 2019 in Abuja, Professor Charles Inyangete, Chairman and Chief Executive Officer of Innovative Risk & Investment Solutions (IRIS) Limited, charged stakeholders in the built-environment to finance sustainable buildings in order to grapple with the present and imminent challenges of climate change.

While delivering a paper titled, ‘Financing Sustainable Buildings:  Impact of Built Environment on Climate Change,’ Inyangete said that climate action offers a major opportunity to ensure sustainable global development and boost economic growth. According to him, it is already delivering real results in terms of new jobs, economic savings, competitiveness and market opportunities, and improved wellbeing for people worldwide with even greater investment, innovation, and growth potential ahead.

He said that population growth and urbanization, especially in Africa and Asia, are putting pressure on housing delivery systems, which are often informal or rely on the state. By 2030 Africa, he said, will have more than 50 percent of its population living in cities.

‘’Where formal housing can’t be supplied, informal housing quickly fills the gaps and slums proliferate, creating new development challenges.


‘’While developing countries have made great progress in improving the framework for housing and housing finance, a significant gap remains to access to affordable housing.

‘’Green buildings represent the low hanging fruits in fighting energy crises. One of the cheapest way of cutting GHG emission is to make buildings more energy efficient with low ecological footprint. This is done through retrofitting existing buildings and planning and design of green buildings.

‘’It is estimated that, by adopting green building practices, the world will reduce an estimated 30 % of the global energy demand by 2030.

‘’Green buildings are not rocket science: we find passive architectural elements in vernacular architecture and in most ancient buildings. These buildings rely mostly on passive/natural means for cooling, heating and lighting.

‘’Green buildings are designed to reduce the demand for resources such as: energy, water, land etc. They are also designed to generate much of the energy they consume, using alternative sources of energy such as solar and wind. Excess energy is feed into the national/local electric grid.’’

Sustainability, according to him is development that meets the needs of the present generation, without compromising the ability of future generations to meet their needs. This sustainability, he said, is based upon three components: economic growth, social progress and environmental protection.

Speaking further, he said. ‘’Over 50% of Nigerians already live in cities, 34% below the poverty line and 68% below the empowerment line.

‘’By 2050 Nigeria will be home to 295m people, equivalent to half Europe’s urban population, and only just falling short of U.S. figures. This momentous shift which will bring nearly 200m new people into cities, create over 20 new middle-tier cities, and ensuring Lagos will rival Beijing, Mexico City and Sao Paolo in size.

‘’With cities accounting for est. 75% of greenhouse gas emissions globally, and 53% highly vulnerable to serious and near-term climate change effects,

‘’Nigeria’s cities will be a vital nexus for mitigation and adaptation initiatives. Not only this, but as the country is yet to build the majority of its urban infrastructure, it has the opportunity to leapfrog developed nations by adopting clean technologies and economic strategies early.

“When we have more efficient buildings, we will have less demand on power. Green building is the best way forward. It is a good thing that we now have certification for IFC Edge for green building. We need to encourage regreening in the environment. We need to build the capabilities of our financing and investors to be able to manage climate change risks.”

“We need to collect data because what gets collected is what gets managed. Town planners need to consider the environment while planning. In 2016, Nigeria incurred N351 billion cost for gas flaring,’’ he said.

With a memorable quip, he said, “climate change is not the biggest issue of our time, it is the only issue.”

By Ojonugwa Felix Ugboja

13th AIHS: Collaboration Key to Housing Development in Nigeria – REDAN President, Chime

The President of Real Estate Developers Association of Nigeria (REDAN), Rev Ugochukwu Chime has stated that the current approach to professional practice in the housing development, which is characterised by each professional working largely within the narrow confines of their profession has negative consequences on the development of the real estate industry in Nigeria.

He made this known while speaking at the CEOs Forum of 13th Abuja International Housing Show (AIHS), which held from 23rd to 26th July 2019 at the International Conference Centre, Abuja.

Speaking on ‘Collaboration and Synergy in Real Estate Development: The Way Forward,’ Chime said that ‘’collaboration does not just happen. It cannot come by mere decree or desire. If we all agree that we need to collaborate more in order to serve our clients and humanity in meeting their basic need of a roof over their head, then we must look at ways to achieve the desired end.’’

He said that the lack of collaboration in the industry among other issues are the reason why the country’s housing crisis lingers.

He said; “Nigeria’s current mortgage sector contribution to our GDP is less than 1 per cent. While that of countries like South Africa stand at 20 per cent; Ghana 4 per cent; UK 65 per cent and USA 76 per cent.

“There is an urgent need to create a National Housing Council distinct from the existing National Council on Housing which is domiciled in the Federal Ministry of Housing, and is dedicated to enhance the coordination of activities in of professionals and organisation involved in the supply side of the real estate industry.”

‘’The World Bank estimated that Nigeria’s housing deficit stood at 17 million units as of 2013 (World Bank (2016)). Currently the housing deficit according to FMBN stands at between 17 – 22 million units. The Centre for Affordable Housing Finance in Africa reports that housing production in Nigeria is at approximately 100,000 units per year, while what is needed to bridge the deficit is a minimum of 1,000,000 units per annum housing production.

‘’In terms of mortgage finance, over sixty trillion Naira would be required to address the deficit at an average unit price of three million, five hundred thousand Naira per housing unity. Nigeria’s current mortgage sector contribution to our GDP is less than 1%. While that of countries like South Africa stand at 20%; Ghana 4%; UK 65%; USA 76%. From the CBN data the total number of mortgages in Nigeria is less than 100,000.

‘’Nigeria has a low homeownership rate of 25 percent, lower than that of Indonesia (84%), Kenya (73%), and South Africa (56%). 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.

‘’Housing creates jobs and supports inclusive socio-economic growth. In India, each new housing unit generates 1.5 direct and 8 indirect jobs. In South Africa, each housing unit creates 5.62 direct jobs and 2.5 indirect jobs.’’

On the part of REDAN, he said that the association has undertaken to spearhead the advocacy and move to streamline and harmonize the real estate industry so as to use the industry as the bedrock for collaboration massive development, employment generation and inclusive socioeconomic growth, and some of these steps according to him includes, restructuring and involvement of professionals, national real estate data collation and management program(NRE-DCMP), training, endorsement of products and estates, enactment of regulation and more.

Speaking on policy failures, he said that the major challenge with all the policies, initiatives and institution created is the very poor understanding of the transaction dynamics; key stakeholders; value chain interface; lack of political will; very weak linkages; and sustainability of the learning curve improvement. Each policy, he said, is treated as a greenfield project leading to our starting afresh and abandoning critical lessons learnt.

‘’The current economic situation, the impact of technology and global professional trend provide us with two options – collaboration or extinction. This can be considered as a clarion call for all of us in the built-environment sector in this clime to rouse ourselves from the past, see and embrace the future,’’ he advised.

By Ojonugwa Felix Ugboja

The Key Housing Demands at 13th AIHS by Stakeholders

Upon the completion of 13th Abuja International Housing Show, which held from 23rd to 26th July 2019, participants, speakers, developers, and heads of all housing bodies at the event agreed on a number of sustainable and important interventions that will bridge the housing gap in Nigeria.

Below are selected 10 out of these resolutions that have been presented to the government and its several housing agencies for implementation.

1. Creating enabling policies around land title documentations, with government playing a larger role in assisting investors and supporting local building industries and materials.

2. Fast track the passage of foreclosure bill into law to legally resolve default issues in the sector. Also the review of land use act of 1978, Federal Government Housing Loans Board bill (FGHLB), the National Housing Fund (NHF) Scheme Act 1992, Mortgage Banks Act 1989 (subsumed in BOFIA), Federal Mortgage Bank of Nigeria (FMBN) Act 1993, The Trustee Investment Act 1962, The Nigeria Social Insurance Trust Fund (NSITF) Act 1993, The Insurance Act 2002, The Investment and Security Act 1999, The Federal Housing Authority (FHA) Act 1990, Securitization Bill amongst many others.

3. Advance the ongoing partnership between Mortgage Banking Association of Nigeria (MBAN) and the Central Bank of Nigeria (CBN) with regards to the underwriting standards which can increase housing and mortgage affordability for the masses.

4. Building the right skill ecosystem through job-driven training programs spearheaded by private sector industry participation for adoption of trainees.

5. Institutionalisation of collaborations and partnerships between large scale industry players to enhance mass housing provision and affordability.

 

6. Creating standard data base in African countries especially in Nigeria that can be universally accepted to collate data, identify data gaps, integrate, optimise and expand knowledge set to meet current demands.

7. The policy creation, adoption and financing of sustainable buildings that utilise green approach in construction which integrates topography into developments.

8. To set up an institution such as a National Housing Council to be the focal point for housing research, policy development and implementation, development of suitable housing economic models that fits into local contexts and monitoring of the housing sector.

9.The adoption of high impact training that supports research and data generation by major stakeholders within the industry.

10. To resolve the challenges of affordability mismatch resulting in unsold and unoccupied developed houses especially in our major cities, there is an urgent need for paradigm shift from market driven pricing system to end user driven pricing to ensure houses are provided for those who need and could afford them.

Source: Extract from 13th AIHS communique.

Brig-Gen. Tunde Reis Commends ‘Phenomenal’ 13th AIHS, Reveals Housing Affordability Solutions

Brig-General Tunde Reis rtd was a special guest at the just concluded 13th Abuja International Housing Show.

While speaking with Housing News, the retired officer who started Nigerian Army’s first housing cooperatives said that the 13th Abuja International Housing Show was phenomenal.

‘’I recall when the show started 13 years ago. It was quite small. It started with a really humble beginning. I am impressed to see the scale and the quality that it has come to be today. Of course there is room for improvement, but what we have seen today is phenomenal. It is quite clearly moving towards becoming the largest housing show that it portends to be in Africa,’’ he said.

On solving the housing problems in Nigeria, Reis told Housing news that Nigerians can be optimistic about the prospects ahead.

‘’Housing problems in Nigeria might appear to be enormous and challenging, but challenges are meant to be engaged and gradually overcome. We need to find solution to whatever challenges we have in the housing industry. Nobody else is coming to do it for us.

‘’And to summarise the single most important impediment to affordable housing delivery in my little experience in the industry, I think it is the challenge of affordability. If you can take care of the affordability gap which is the gap between what the end users can afford to pay towards their housing and the cost of the housing, then you can unlock a lot of things.

‘’People say it is absence of mortgages. But even if you have all the money in the world available for mortgages, most Nigerians will not qualify for those mortgages.

‘’So we need to find policies that can address and mitigate the affordability gap that will unlock in fact mass housing because once there is demand, people will find faster and better ways of delivering houses,’’ he advised.

Tunde Reis is currently the founder and CEO of First World Communities – a housing development company focused on large scale development for affordable housing mainly based in Lagos.

By Ojonugwa Felix Ugboja

Hydraform Wins Promoter of Affordable Housing Construction Award

Building construction company, Hydraform has been crowned with Promoter of Affordable Housing Construction Award at the just concluded 2019 Nigeria Housing Awards (NHA) in Abuja on the 26th July 2019.

The prestigious award is in recognition of the organisation’s contribution to the provision of affordable housing and reduction of slum dwelling in many African countries, especially Nigeria.

While speaking at the 13th Abuja International Housing Show, Robert Plattner, the CEO of Hydraform said: “We are going back to the use of earth to build sustainable and affordable housing for people. We are in at least 75 countries all over the world and trusted for our effective delivery and affordability.”

Hydraform is an internationally recognised building construction company with proven track record of delivering works of the highest quality and at the best rates. The company is widely acknowledged as an indomitable force in Nigeria and on the continent when it comes to quality and professionalism. The Abuja International Housing Show is impressed by Hydraform’s ability to reshape and modernise building construction in Africa.

Product wise, the Hydraform Interlocking Soil Block (hydraform block) is an interlocking earth block used in many countries for construction purposes. The hydraform block is made from soil cement which is a mixture of soil, cement and water, and is hydraulically compressed to form a high quality interlocking soil block. Soil from the building site can be used to manufacture building blocks. Sandcrete and landcrete are similar materials but are not compressed.

The Hydraform compressed earth block is very popular due to the cost savings that are involved during the construction process as only around 30% of the structure requires mortar between the blocks. Due to the interlocking nature of the stabilized soil block, unskilled labour can be utilised in construction thereby empowering rural communities and creating jobs.

The blocks interlock top to bottom and front to back. Blocks dimensions are 220 millimetres (8.7 in) wide, 115 millimetres (4.5 in) high and 230 millimetres (9.1 in) long. It weighs approximately 12 kilograms (26 lb). Once blocks are manufactured it is “wet cured” for a period of 14–21 days to reach desired strength.

These impressive features has made them a major force in the building construction industry.

The Nigeria Housing Awards marked the end of the 13th Abuja International Housing Show which hosted 30, 000 participants and over 30 international speakers from at least 15 countries from 23rd to 26th July 2019 at the International Conference Center Abuja. The award which held on the 26th July 2019 celebrated a number of excellent performers in the industry in the year under review.

By Ojonugwa Felix Ugboja

Royal Ceramics Honours Festus Adebayo with Recognition Award at 2019 Nigeria Housing Awards

The Nigeria Housing Awards and Dinner took place on Friday 26th July 2019 at the International Conference Center Abuja with all leading stakeholders, CEOs and companies in the housing and construction sector present to celebrate each other’s successes in the past year.

The colourful event which marked the end of the 13th Abuja International Housing Show had a lot of special moments including the surprise award for the CEO of Abuja International Housing Show, Festus Adebayo by Royal Ceramics Limited.

It was one of the epic highlights of the night as the CEO of Royal Ceramics, Bhaskar Rao, who had earlier received the award for CEO of Building Materials Company of the Year himself, invited CEO of Abuja International Housing Show, Festus Adebayo to the stage for a surprise award.

Bhaskar Rao said the award was in recognition of the wonderful effort by Festus Adebayo in the advocacy for affordable housing in Nigeria and Africa and for the huge impact of the Abuja International Housing Show which has consistently pulled together local and international experts in housing, construction and finance to collaborate and seek practical solutions to the housing needs in Africa.

According to Mr Rao, the award plague was completely designed and made in Nigeria with Nigerian products – a testament to their company and Abuja International Housing Show’s call for the promotion of local content in Nigeria.

The visibly excited awardee Festus Adebayo couldn’t hide his appreciation for the Royal Ceramics team for deeming him fit for such a prestigious recognition. He also congratulated Mr Rao for his own award and acknowledged Royal Ceramics for their efficiency in the industry, as well as their impactful partnership with Abuja International Housing Show.

The fulfilling night was a mix of soothing music, choreography, dining, wining and laughter.

The Nigeria Housing Awards is dedicated to rewarding excellent performers in the housing and construction sector and to inspire creativity and the kind of hard work that will drive affordable housing in Nigeria.

By Ojonugwa Felix Ugboja

Shelter Afrique Receives Pan Africa Award of Affordable Housing Promoter of the Year

Africa finance institution for affordable housing, Shelter Afrique has won Pan-Africa Award of Affordable Housing Promoter of the Year at the just concluded 2019 Nigeria Housing Awards (NHA) in Abuja on the 26th July 2019.

The prestigious award is in recognition of the organisation’s contribution to the provision of affordable housing and reduction of slum dwelling in many African countries.

Shelter Afrique is the only pan-African finance institution that exclusively supports the development of the housing and real estate sector in Africa.

Speaking at the 13th Abuja International Housing Show, the MD of Shelter Afrique, Andrew Chimphondah said: ‘’At Shelter Afrique, we have a number of initiatives geared towards enhancing housing affordability in Africa. We currently have investments in mortgage refinance companies including NMRC, Kenya Mortgage Refinance Company, CRRH – UEMOA Togo. We also have a Pan African slum eradication programs like the slum upgrading program in Uganda and many more.”

By meeting the needs of the continent’s rapidly growing urban population, their work has a direct and positive impact on the lives of many.

A partnership of 44 African Governments, the African Development Bank (AfDB) and the Africa Reinsurance Company, Shelter Afrique builds strategic partnerships and offers a host of products and related services to support the efficient delivery of affordable housing and commercial real estate.

These include project finance, institutional lending, equity investments and joint ventures, trade finance, and social housing. They also offer practical advice and technical assistance to a wide range of industry stakeholders.

The Nigeria Housing Awards marked the end of the 13th Abuja International Housing Show which hosted 30, 000 participants and over 30 international speakers from at least 15 countries from 23rd to 26th July 2019 at the International Conference Center Abuja. The award which held on the 26th July 2019 celebrated a number of excellent performers in the industry in the year under review.

By Ojonugwa Felix Ugboja

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