Director, Regional Office for Africa, United Nations Human Settlements Programme, Oumar Sylla, has disclosed that various towns in Africa face pronounced urban planning and management capacity challenges which may also constrain responses to the Covid-19 pandemic responses.
Sylla stated this at a real estate event in Lagos organised by Thinkmint Nigeria, with theme: “Real estate markets signals in Africa: Trends and opportunities.”
He said the need for a new policy around COVID-19 and urban health management communication strategies, multi-stakeholder community engagement, map and update data on vulnerable groups to ensure evidence-based support and integrated urban and local area data management systems is imperative.
Also speaking at the evei, the Managing Director/Chief Executive of Federal Housing Authority (FHA), Senator Gbenga Ashafa urged stakeholders in the real estate sector to embrace smart technology for efficient housing delivery.
He said technology is predominantly “brick and mortar.” There is an urgent need to look to more viable alternatives to reduce costs while enhancing efficiency and minimising environmental impact.
Ashafa said the world is fast embracing “smart” technology and Africa cannot afford to be left behind as the presence of technology will influence business and building processes as well as consumer behaviour.
He noted that housing, though one of the basic needs of man, however, facilitates holistic development within a planned economy, including safe, efficient, secure and affordable housing leads to a better quality of life for citizens.
“Real estate investment is the pedestal for growth and development. It is the bedrock upon which many countries have attained a vibrant economy,” he said.
running technology to tackle floods’
Ashafa further stressed that the sector remains the asset of choice for investment. A boost in growth is expected despite COVID-19 headwinds, which will provide opportunities in the various subsectors.
Although he noted that the major challenge would be the third trust, however, that human resilience would, ultimately, triumph.
He urged investors to invest in Africa’s real estate market to explore the potential for local partnerships.
“It is important that investors explore the potential for local partnerships. Not only may this be required by legislation, but such a partnership could also bring local expertise to help identify and overcome difficulties in doing business in the local environment,” he added.
