West Africa’s most influential real estate investors and developers are set to gather for the 9th annual West Africa Property Investment (WAPI) Summit on November 22, an exclusive in-person event at the Four Points Sheraton, Lagos. The summit aims to provide a platform for rewriting the narrative and positioning developers for future success, according to Murray Anderson-Ogle, the organizer of the event and API Events’ representative.
“Led by Nigeria and Ghana, West Africa’s real estate market continues to prove its resilience and attract local and international investors across multiple sub-sectors. We look forward to exploring opportunities across the value chain with over 250 in-person C-suite players from 10 countries,” says Anderson-Ogle.
This year’s event boasts an impressive lineup of new speakers, particularly international experts, who have recognized the opportunities in Nigeria and Ghana’s dynamic markets.
Dolapo Omidire, CEO of Estate Intel and API Events’ official industry data expert partner, highlights the significance of #WAPI Summit 2023. She sees it as a valuable opportunity for market players to discuss progress in the face of current challenges.
“While challenges persist, investment activity is not slowing down. The second half of 2023 has witnessed a record number of development starts, especially in the residential sector. Other sectors, including office and retail, are navigating the effects of a recently devalued Naira and Cedi. As new policies and leadership positions emerge, making strategic decisions this year and next will be crucial for successful real estate investments in West Africa over the next decade,” says Omidire.
Anderson-Ogle echoes this sentiment, stating, “This year’s theme, ‘Rewriting the Narrative – Positioning and Strategies for the Future,’ will delve into the broader macro-economic landscape and its detailed impact on real estate markets.”
The focus and strategy for #WAPI involve providing industry leaders with tools to re-strategize for the future, considering current limitations, creating new opportunities, and positioning themselves at the top of the competition.
“Our agenda this year emphasizes the core fundamentals of the economy and the most attractive assets for investors, ranging from commercial to data centers, logistics, hotels, proptech, and residences. Added networking functions pre and post-event enhance the overall experience,” Anderson-Ogle explains.
A Growing Opportunity for Local & Offshore Investors
Tola Akinhanmi, Head of Real Estate for West Africa at Stanbic IBTC, observes that the Nigerian and Ghanaian markets have evolved to weather macro and micro challenges, leading to sustained growth across the sector and into emerging asset classes.
“The real estate asset class is inherently long term and has demonstrated resilience amid various shocks over the past five to six years. This resilience has allowed the market to diversify and grow, attracting new investments from local and offshore players,” says Akinhanmi.
Despite increasing resilience, Akinhanmi recognizes the need to bolster capital liquidity for continued growth and sophistication in the sector.
“A key impediment to growth remains capital. While we’ve seen growth in offshore capital investments over the past decade, recent years have seen somewhat muted activity from a scale perspective. Liquidity in the asset class is crucial to unlocking further investment, and there needs to be a deepening of both institutional investors and developers to fully complete and optimize the investment cycle,” adds Akinhanmi.
Anderson-Ogle shares this sentiment, concluding, “We’ve witnessed significant progress across Africa, and we look forward to welcoming hundreds of developers and investors in person on November 22 to explore ways of unlocking development and capital for further growth and development in Nigeria and West Africa.”
With over 100 companies represented on November 22 and featuring a stand-alone Hospitality Forum, Cocktails, and more, this year’s event highlights the growing interest in Nigeria and Ghana’s real estate markets for investors and developers.
About the WAPI Summit | November 22
Established as the region’s premier real estate gathering, the 9th annual WAPI Summit will take place live from Lagos on November 22, 2023. As the only regional annual event connecting international money to local opportunities and players, the summit will host more than 60 speakers and 250 attendees. Sessions are exclusively available in person, and delegates can attend by registering at www.wapisummit.com.
Name: Collins Oforgu
Company: Evaluate Media
Email: [email protected]
Phone: +234 706 125 2165
Credit Gist New Today News in Newspaper Nigeria Headlines