By Kingsley Adegboye
Leading commercial property services company, Broll Nigeria, a subsidiary of Broll Property Group, is the Platinum Sponsor of the third annual West Africa Property Investment (WAPI) Summit 2017.
The summit will be held for the first time in Nigeria between November 28 and 29, 2017 at Eko Hotel and Suites, Victoria Island in Lagos.
Themed Changing the West African Narrative, delegates at the two-day event are expected to discuss and share 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 among others, will take the centre stage.
Broll’s CEO, Bolaji Edu said in a statement that “the property markets in West Africa keep expanding and investors see opportunities in what is by global standards, still an immature and emerging market. 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 and Broll is proud to be the Platinum Sponsor for the third year running.”
According to him, the summit provides a platform for industry experts, property professionals and leaders of thought to discuss key issues relating to real estate investments in West Africa.
“The economic improvement and stability in the forex market has brought improved confidence from corporate organisations looking to take up new space such as investors or developers. There is confidence that the recent fall in rental levels may have begun to bottom-out,” Edu said.
Broll Nigeria representatives who will speak at the summit include Bolaji Edu, Gavin Cox, Head of Retail Management and Retail Leasing, and Nnenna Alintah, Head of Occupier Services.
According to Alintah, “Corporate real estate services strategy is key to any property investment business and it requires paying attention to every detail before decisions are made. We are currently working on an occupier service snapshot report on West Africa and this will be launched and discussed at the summit.”
Gavin Cox, Head of Retail Management and Retail Leasing of the group said: “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.”
In general, Cox noted that the retail sector in Nigeria is facing tough times, 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 panellists will uncover some of the trends in the retail sector in addition to a discussion on mall versus high street. Broll Nigeria will launch the Retail Report at the summit.
“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 added.
Since its inception in 2015, Broll Property Group has been the Platinum Sponsor of this prestigious two-day event which was held in Ghana for the past two years.