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FIABCI Encourages Estate Professionals to Diversify Investment Portfolios

To address ongoing challenges in the housing sector, Uzo Oshogwe, the Managing Director and Chief Executive Officer of Afriland Properties Plc, has urged estate professionals to diversify their investment portfolios, products, and management frameworks.
Oshogwe emphasized the importance of incorporating a mix of facilities management, property rentals, property management, and brokerage to achieve a balanced approach. She also highlighted the need to move away from traditional ‘bricks and mortar’ construction methods to ensure business liquidity.
Read also: Real Estate Opportunities On Lagos Mainland
Speaking at the International Real Estate Federation Nigeria 2024 annual general meeting and the induction of 25 new members in Lagos, Oshogwe presented on “Real Estate Leadership and Strategy for Business Growth in a VUCA Economy.” She explained that VUCA stands for volatility, uncertainty, complexity, and ambiguity in the economy.
Oshogwe pointed out that in unpredictable economic times, professionals must develop strategic foresight, adopt an agile mindset, exercise emotional intelligence with staff, prioritize innovation, and focus on customer and market needs. She emphasized the need for resilience, risk management, and leveraging strategic partnerships and collaborations for progress within a growth-facilitating ecosystem.
 
She warned, "The era of building large rooms is gone, and taking a loan at a 30 percent interest rate is not advisable. Developers need to be smart in developing financing models for projects." Oshogwe also noted that to build affordable housing and address existing deficits, developers must partner with the government for subsidized land and infrastructure.
 
Oshogwe underscored the importance of having a clear and flexible strategic vision, which helps manage uncertainty and reduce ambiguity by setting clear timelines for projects and measurable goals. She advised professionals to be adaptive to change, conduct market analyses, invest in research and development, and maintain transparency and accountability to build trust. Effective communication with stakeholders and simplifying decision-making through the right information and data are crucial to addressing ambiguity and clarifying purpose and intent.
 
In other news, the FIABCI Nigeria chapter elected Akin Opatola as the new president of the association. Opatola committed to enhancing professionalism and upholding values of integrity and transparency. Outgoing President Gladstone Opara noted that the membership, including building industry professionals, grew by about 200 percent in the last two years. FIABCI Nigeria participated in over 25 international events, rebranded the association, and maintained an active Young Professional Members Council that contributed significantly to webinars and study tours.
 
Adele Adeniji, President of FIABCI Africa and Near East Region, encouraged the new members and leaders to adhere to the oath of allegiance and remember the trust placed in them. He advised them to uphold the high ethical standards and professionalism of the association, follow board decisions, and lead with courage and confidence, ensuring FIABCI-Nigeria continues to thrive both locally and internationally.
 
Source: PunchNG
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