Nigerian, Ghana Real Estate Markets Attract International Investors

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Fadekemi Ajakaiye

As Nigeria and Ghana’s economies continue to diversify, the countries property sectors are once again attractive to regional and international real estate investors, says Kfir Rusin, the Managing Director of API Events, the host of the 5th West Africa Property Investment (WAPI) Summit taking place on 26 & 27 November 2019.

According to Rusin, “These markets have progressed and evolved amidst tough trading conditions.” Adding that this year’s theme, ‘Uncovering the Next Real Estate Investment Cycle’, was developed with buy-in from local and international stakeholders, who believe that West African Real Estate is now increasingly attractive to DFI’s, Private Equity Firms, institutional and global investors.”

With more than 400 delegates attending and 70 speakers confirmed, including several globally respected thought leaders, this year’s WAPI Summit will again advance the real estate agenda across the West African real estate value chain. This year’s global investment keynote speaker is REITWAY Global’s Chief Investment Officer, Garreth Elston.

With more than $75 Million under management, Elston comments that while REITWAY Global’s investment strategy is focused on global listed property stocks, he is beginning to prioritize emerging asset classes.
“We invest across the full spectrum of global listed property companies, currently this is in excess of twenty sectors and sub-sectors. We currently have a particular focus at the current moment into logistics and warehousing, as well as technology sectors such as Data Centres and Communication Towers,” he says.

With investment in warehousing and data centres by WAPI Summit stakeholders such as Agility Africa and Rendeavour; the region’s real estate ecosystem is increasingly diversified and sophisticated, yet requires transparency, regulatory and policy certainty to attract and retain investment, comments Rusin. A process of formalisation, which is a key focus for API Events across Africa and a measurable outcome of each successive WAPI Summit over the past five years.

Despite growing sophistication and development in the regional market, West Africa’s markets need to take note that competition for investment is hyper-competitive and jurisdictionally agnostic says Elston.

“Markets are competitive for FDI investment globally, and if there is no respect for regulatory certainty, property rights and freedom of capital movement, they will continue to play second place to markets that provide investors with the most attractive destination,” says Elston.

And while West African property markets do not have the same amount of liquidity in their markets, Rusin believes that the high percentage of international speakers, delegates, and sponsors, as well as the more than $1 BN raised and deployed by API Events’ stakeholders this year, provides tangible evidence that a new investment cycle in Africa has begun.

As Rusin comments, “In addition to Gareth Elston, we have secured speakers from across Africa and internationally, such as Agility Africa’s CEO Geoffrey White, and others, who are all motivated to network with fellow stakeholders in one of Africa and the word’s most attractive and fast improving markets.”

For Elston, a first-time speaker for API Events, the WAPI Summit provides an opportunity for him to achieve his objectives of meeting and sharing insights on property with regional real estate stakeholders. “Sharing and learning from fellow real estate specialists, and helping to grow the prescience and success of listed property as an asset class in West Africa,” says Elston.

As Rusin ends, “This is API Events’ 5th WAPI Summit, and our tenth year of operating across Africa, and we’re able to leverage our credibility of creating world-class deal-making events for investors, developers and operators. As such this year’s Summit and Expo is our biggest West African event to date, with more than 200 companies represented and over 40 sponsors and exhibitors with more to come.”

The West Africa Property Investment Summit is a high-calibre two-day real estate focused conference. Leveraging off a global network and strategic local partners; the forum provides an unmatched platform for discussion and deal making for 450 delegates representing over 250 companies from investors, developers, operators, property experts, practitioners, the public sector and more.

The summit focuses on overcoming current obstacles in the West African Property Market whilst uncovering the market opportunities across Nigeria and Ghana. The conference will offer insights, thought-leadership and solution-focused tools ultimately driving further development and investment in the local and regional real estate market.

API Events delivers Africa’s most renowned events in real estate investment and development. Our events across the continent have become the ultimate meeting places for Africa’s property market to learn, network and most importantly to do deals.