Stakeholders seek technology advancement in real estate sector
Stakeholders have said that to remain relevant in the real estate business, there is a need for technological advancement and recreation in line with the tide in the real estate sector.
The Chief Executive Officer, Knight Frank Nigeria, Frank Okosun, at a breakfast session organised by the firm, said, “It was focused on the intercepts between construction, real estate and technology, as well as how the trio would influence the future of real estate services in Nigeria.”
Noting that the sector was critical to the Nigerian economy, he said they were key employers of labour, critical factors of production and the host of businesses, living or recreational activities.
“We have been so laid back about a way forward for technology in the built industry. For us as a brand in the real estate business, we need to chart the course, we need to collaborate with critical stakeholders to take the sector to enviable height,” he said.
Speaking on the theme, ‘Real Estate, Construction and Tech: The Future of Real Estate Services’, the Chief Executive Officer, Eximia Realty Company, Hakeem Ogunniran, said technology had disrupted the space and to remain relevant and continue to deliver on the job, players must consolidate on the gains and recreate the old platforms to deliver better values.
Also, giving the nexus between the sector and the economy, Ogunniran said real estate often drove the economy, acting as a growth enabler for other economic sectors.
It also acts as a potent lever of socio-economic transformation, and is a key contributor to the wealth and prosperity of cultures, he said.
Furthermore, the CEO said in harnessing the future of real estate in Nigeria, there was the need for asset creation, through regulation and compliance; technology through commoditisation and industrialisation; as well as innovative financing solutions through capital stocks flexibility.
The Chief Executive Officer, Broadbased Communications, Henry Iseghohi, noted that “digitisation is the way forward in the real estate ecosystem.”
Gloss