Real estate operators have been advised to cultivate strategic leadership abilities, foster competence, and uphold integrity in their service to humanity.

The Managing Director of PR Africa International, Adedapo Adelegan, gave this advice at the Annual General Meeting and induction ceremony of 41 new members organised by the International Real Estate Federation Nigeria in Lagos.

According to him, these skills are needed to anticipate trends, identify opportunities, develop long-term goals and plan to guide growth both at the local and international stages.

Adelegan said, “Despite the challenges facing the sector, ranging from an infrastructure deficit, mortgage financing issue, and general economic downturn, growth in real estate is driven by urbanisation, population expansion, increased economic activities and foreign direct investment.”

He urged the association to influence the government towards initiating policies favourable to the sector in terms of housing financing, foreclosure law, mortgage, improving access to housing and promoting alternative materials for building development.

“FIABCI is probably the only international real estate group which is why it must take advantage of its position by becoming an ambassador for promoting our opportunities at the global level. The role of funding housing will be a major game changer and it behooves FIABCI to do a global audit of some part of the world and find a way around a workable formula for easy access to a mortgage.”

“You will find out that most of the houses in the United States of America are built with wood and you begin to wonder why we are building every house in Nigeria with concrete. FIABCI needs to begin to break boundaries and work with other international organisations on how they do it. Why can’t we build estates with wood for our young graduates and why must it be cement houses? We can build houses with mud and wood,” he said.

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