The shock wave is still reverberating in many nations of the world after the 2016 US Presidential elections. The fear of mass expulsion of their nationals in the UK and US due to the changing world political arena has prompted real estate companies in Nigeria to gear up for a possible rise in housing demand by the potential returnees!
As the saying goes, to be forewarned is to be forearmed, a Nigeria based NGO – Shelter Rights Awareness Initiative (SHRAI) is collaborating with El-Salem International (UK) Ltd; for a sensitization programme for Nigerians and other Africans migrants living in Britain and North America to acquire properties in Abuja, the Nigerian capital city.
The programme tagged “ Abuja Housing and Investment Road Show UK 2016” kicks off on the 3rd of December, 2016 at Hilton London Tower Bridge, 5,More London Place, Tooley Street, London SE1 2BY by 12 noon. According to Phillips Eteng, a Christian blogger and Director of Shelter Rights Awareness Initiative, in an ever changing world, the need to own your shelter is crucial, because it gives you a sense of security of purpose and belonging. A greater security is assured if you live abroad with all the uncertainties, yet you have acquired a comfortable home in your country of origin.
It is with this concept in mind that the theme of the road show is titled “Creating an Enduring Wealth Through Home Ownership and Investments in Abuja”. CEO of EL-Salem International, Ben Gbade Ojo, a former banker turned property developer, believe the time is ripe for Nigerians and other Africans in the diaspora to invest some of their earnings to kick start the engine of housing development in an otherwise deprived continent. The massive deficit in housing stock is affecting the GDP of many African countries, making economic progress slow and painful!
Nigerian for example raked in a total of $20.77 billion from Diaspora remittances in 2015 according to World Bank Migrant Remittances, but that made very little impact in the Real Estate sector. When properly channeled, the huge inflow of remittances from the migrant community to their home countries can grow jobs and income levels.
The UK Road show has the support of several Nigerian organizations such as the Abuja Chamber of Commerce and Industry (ACCI) and the Real Estate Developers Association of Nigeria (RADAN); the umbrella body for all estate developers in Nigeria. Others on the road show train are Nigerian Investment Promotion Commission (NIPC) and some well known banks.
The two in one event hope to attract UK investors to partner with real estate developers in Nigeria to reduce the housing deficit of about twenty-million housing units in a nation of 177.5 million people. What will be of particular interest to investors are the low cost high yield opportunities available in the country as it struggles to come out of recession.
For further details and interview call the following numbers:
UK: Flora on +44 798 4603981 ;
Nigeria: Phillips +234 706 687 0952; Oscar +234 806 333 5994.