Experts across the construction and real estate value chain have sued for adoption of technology, collaboration, and industrialization to effectively deliver on the mandate of mass and affordable housing in Nigeria.
They made the disclosure during the Proptech and real estate sessions at the ongoing Africa International Housing Show (AIHS), in Abuja.
Speaking during one of the sessions with the theme: ‘Creating a Digital Platform to Achieve Scale in Terms of Delivery, Retail Funding, Mobilization and Tokenization’, the Managing Director of Octo 5 Real Estate, Jide Odusolu said that Nigeria’s performance in providing decent homes is very low owing to its poor technology base.
He condemned the attitude of governments in the area of social housing provision, saying “the Nigerian Housing Conundrum is a source of constant confusion.”
He went further to say that “When we want to change things, we must leave the Government at the door. Policies must chase innovation, not innovations chasing Policies. It’s a known fact that If we do not innovate, we will die! Social housing is a Government responsibility, but it’s unfortunate that they have relegated it into the background.
“If housing can be fixed, the Nigerian economy will be greatly transformed. Digital solutions make the quality of life easy, with numerous added benefits like tracking credits, flexibility etc. The future of Real Estate revolves around technological innovations. The greatest hindrance to investment by Nigerians in the diaspora is Trust, Lack of efficiency, and Lack of transparency.
“The Real Estate Industry is on the cusp of a Digital Revolution similar to FINTECH and GSM. The power of Digital Platforms is enhancing Real Estate transactions. To unlock the housing deficit in Nigeria, Real Estate has to go Digital”, Odusolu revealed.
Likewise, Prof Olumide Olusanya of the Department of Architecture, University of Lagos, who spoke on ‘Innovation in Housing Design and Technology for Large Scale Production’ noted that the problem of Nigeria is not corruption but Lack of Industrialisation, adding that “Is either Nigeria industrialize or it perishes”
He described the construction industry as the most important industry in Nigeria, saying the principles of success in Nigeria must follow productive steps to Industrialisation.
“We must get our own patterns that enhance productivity in Nigeria and personalize it”, he said.
In a similar session focusing on the theme: Collaboration as a tool for unlocking the potential in the Real Estate Sector, the Managing Director of COPEN Group, Ugochukwu Chime, while describing the construction industry as a multidimensional industry, emphasized that the key to unlocking the potentials of Real Estate in Nigeria is collaboration.
“Reeling out the five key strategies of Collaboration, he said: “The place of a developer in every construction is like that of an orchestra. As such, there are five strategies of collaboration. They are; Set and agree on clear goals, Build trust within the team, Frequent communication, Motivate teams with recognition and support, and Create a collaborative workspace”, he highlighted.
