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Property scorecard coming

The International Real Estate Federation, FIABCI Nigeria, has concluded plans to introduce into the real estate sector, the Nigerian property scorecard- a global benchmark for real estate investments, in its 2019 Prix D’Excellence Awards.

The body, which regrets that nothing concrete has been achieved in the country’s quest for affordable housing, explained that the introduction of the scorecard is in line with the global mandate of the association, just as it clamours for affordable housing for all.

The President, FIABCI Nigeria, Mr. Adeniji Adele, said the scorecard can be likened to bringing out the property aspect of the ease of doing business. “FIABCI Nigeria wants to be the custodian of the property scorecard in Nigeria; it will be a continuous thing until stakeholders in the country get it right,” he said.

According to the Vice President, FIABCI Nigeria, Mr. Gbenga Ismail, explained that the Nigerian property scorecard is fashioned after the International Property Markets Scorecard methodology, which is developed by the Centre for International Private Enterprise and IHC Global.

The Vice President, Mr Gbenga Ismail, said it had become important to attract foreign funds into the property market. While underscoring the need to bring in significant number of investors into the real estate sector, he called on stakeholders and government to ensure that the business environment is made friendly and transparent so as to encourage investments.

He further explained that the core elements of the scorecard comprised of financial transparency because of the need to ensure financial stability. This, he said, will help practitioners to raise questions for policymakers at the planned ceremony.

“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 our mindset.

Ismail said apart from the scorecard, the programme, which is scheduled to hold on January 25, is with the theme: “Ease of doing business”, would also feature a business forum. He further stated that professionals who had distinguished themselves in affordable housing, hotel, retail, sustainable development, mixed-use, residential housing both mid-rise and high-rise, office and industrial development, among others, would receive awards for their contributions to the real estate industry.

Expected at the event are the Senior Special Assistant to the President on Industry, Trade and Investment in the Office of the Vice President, Dr Jumoke Oduwole, as the guest speaker and the Lagos State Commissioner for Housing, Gbolahan Lawal, as the special guest of honour.

Others are the Chairman, Honeywell Group, Dr Oba Otudeko as well as the World President, FIABCI International, Mr Assen Makedonov, among others.

SOURCE: THE NATION

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