EAGER to assist real estate professionals in improving the quality and competitiveness of their activities by sharing knowledge, information and business opportunities, the Nigerian chapter of the International Real Estate Federation (FIABCI) has concluded plans to send delegates to the 66th World Real Estate Congress holding at One World Hotel, Kuala Lumpur, Malaysia between May 25-31, 2015.
FIABCI is a multi-discipline, networking organization for all professionals associated with real estate transactions. With chapters in more than 50 countries and World, Regional and National Congresses throughout the year, members travel and meet like-minded professionals of the highest caliber globally. FIABCI also enjoys Special Consultative Status with the Economic and Social Council of the United Nations.
The Congress organized by FIABCI Malaysian Chapter will dwell on the theme: Urbanization: Perils or Opportunity. This is the second time FIABCI Malaysia is given the honor to host the FIABCI World Congress, the first time was in 2002. About 25 delegates from Nigeria will be attending the global event. According to the United Nations World Urbanization report, more than half of the global population currently lives in urban areas, it is projected to reach 70 per cent by 2050. Hence urban planning is crucial to ensure the society is in a proper order. FIABCI-Nigeria President, Mr. Joe Akhigbe, said: “The FIABCI 66th World Real Estate Congress will take a deeper look into the urbanization matter, with many eminent speakers joining us from all around the world to share their experience and expertise in handling urbanization issue in their own countries.”
In 2007, the United Nation reported the arrival of the “Urban Millennium or the Tipping Point of Future Trend” is a way of life United Nation population reported that 50 per cent of the world population of 7 billion were living in urban area in 2008. By 2050, 70 per cent of the world population will be urbanized, a total of 6.44 billion out of the projected world population of 9.2 billion. And 93 per cent of urban growth will occur in developing countries with 80 per cent occurring in Asia and Africa.
“The large migration of population from rural to urban area in the coming years provides perils as well as opportunities. As a real estate federation, FIABCI is concerned how we can avoid the perils and profits from the opportunities,” Akhigbe said.
“The migration to urban area has an expectation of a better life with better economic opportunities, education prospect for their children. With migration from rural to urban area we see the relation of economic growth.”
This is well illustrated by China’s growth, the GDP per capital income based on mid year population in 1990 grew from USD344 to USD6,093 in 2012; with its population of 26 per cent in urban area in 1990 and grew to 54.6 per cent in 2012, a total of 712 million. China will be a high-income society when its urbanization reaches 70 per cent level. The requirement of affordable housing for the new urbanites will provide opportunities for real estate developers. Along with urbanization is the peril of cultural change of its population where moral, health and liberties are affected. Poverty in urban area will be more pronounced.
The march to urbanization is unstoppable and it is up to the relevant government authorities to plan for the urbanization, which is already happening. If the planning is not comprehensive and total, the future damage will be irreparable. The transportation and public services are two main factors, which must be put in place to support the urban growth.
With urbanization, the phenomenon of the generation of the heat islands will be very significant. At the early stage of urbanization, the environment must be well protected and reduction of the carbon footprint taken into consideration to reduce such heat centre. The compact, well thought out cities can be accomplished if all resources are put together to further such growth. In this direction FIABCI World President, Robyn Waters had signed an agreement of cooperation with Professor Paul James, director of the Global Compact Cities Programme, a United Nation International Secretariat. Meanwhile, FIABCI-Nigeria will be hosting Nigeria Building Industry to a Business Forum on April 29 at the The Metropolitan Club, Victoria Island, Lagos.
The Speakers include, Head, Real Estate Finance (West Africa) Stanbic IBTC Capital, Mr. Adeniyi Adeleye; Mrs. Mayowa Ogunwemimo of FSDH Group and Managing Director, Crown Realties Plc, Mr. Darl Uzu. The former FIABCI World President, Flavio Gonzanga Nunes is expected as a special guest.
Source – Guardianng