‘Property firms need to enhance competence in real estate investments’

For Nigeria to make meaningful impact in the construction industry, investment must be made in growth sector of the economy.

The Chief Executive Officer of Cranesway Horeb Consulting Limited, Akintoye Akinosi who made the submission recently, also called on real estate firms or individuals to acquire right set of skills and knowledge to execute projects.

He said: “The impact of the global economic recession, Brexit and dwindling oil prices has taken its toll on the Nigerian economy. Various economists have proffered various solutions to the present economic crisis in Nigeria including diversification and attracting inward investment. Whichever option is chosen, it is pertinent that investment should be made in the growth sector of the economy.

“This will involve attracting foreign investment into the real growth sectors of the economy. In order to achieve this goal, there must be inward investment in the provision of infrastructure such as power (electricity, gas, water), roads, bridges, railways and airports.

According to Akinosi, most foreign companies that want to invest in such infrastructure and will be looking for firms or individuals who have the right set of skills and knowledge to execute such projects.

He disclosed that one of such skills that will be required is that of a chartered surveyor. “Most international clients will be looking for those firms or individuals that are professional and that can add value. They are expecting detailed advice that will enable them to make decisions on real estate investments. They require those who have good knowledge of the local market and can ensure that their assets are properly managed and returns are maximised.”

Meanwhile, the firm will be visiting Nigeria with University College of Estate Management (UCEM), a provider of online learning programmes with a view to recruiting students for the following courses that are recognised by the RICS and or CIOB and CABE. UCEM also offers an MBA Construction and Real Estate course and has supported over 150,000 students worldwide since 1919.