Real Estate Leaders Convene to Rewrite the Narrative at 9th West African Property Investment Summit

Fadekemi Ajakaiye

Leading real estate investors and developers in West Africa are gearing up for the 9th annual West Africa Property Investment (WAPI) Summit on November 22. The exclusive in-person event, hosted at the Four Points Sheraton in Lagos, promises to be a pivotal moment for industry leaders to reshape the narrative and position themselves for future success, according to API Events’ Murray Anderson-Ogle.

With Nigeria and Ghana taking the lead, the resilience of West Africa’s real estate market continues to captivate local and international investors across various sub-sectors. More than 250 C-suite players from 10 countries are expected to explore opportunities across the value chain during the summit.
This year’s summit features a fresh lineup of speakers, especially international experts, recognizing the potential in Africa’s largest markets – Nigeria and Ghana. Dolapo Omidire, CEO of Estate Intel and API Events’ industry data expert partner, views #WAPI Summit 2023 as a crucial opportunity for industry stakeholders to navigate the challenges in the current market.

“While challenges persist, investment activity remains robust. The second half of 2023 has witnessed a surge in development starts, particularly in the residential sector. Other sectors, including office and retail, are adapting to the effects of a recently devalued Naira and Cedi. Strategic decision-making this year and the next will be pivotal for successful real estate investments in West Africa over the coming decade as new policies and leaders take their positions,” notes Omidire.
Anderson-Ogle concurs, emphasizing the theme for this year, ‘Rewriting the Narrative – Positioning and Strategies for the Future.’ The summit’s focus is to equip industry leaders with tools to re-strategize for the future, considering current limitations, creating new opportunities, and securing a top position in the competitive landscape.

“Our agenda this year delves into the core fundamentals of the economy and the most attractive assets for investors, spanning commercial to data centers, logistics, hotels, proptech, and residences. Additional networking functions pre and post-event enhance the overall experience,” adds Anderson-Ogle.

A Growing Opportunity for Local & Offshore Investors

Tola Akinhanmi, Head of Real Estate for West Africa at Stanbic IBTC, observes the evolving nature of the Nigerian and Ghanaian markets. Their ability to withstand macro and micro challenges has resulted in sustained growth across the sector and into emerging asset classes.

“The real estate asset class, known for its long-term nature, has proven its resilience over the past five to six years amid various shocks. This resilience has allowed the market to diversify and attract new investments from both local and offshore players,” comments Akinhanmi.

Despite the increasing resilience, Akinhanmi acknowledges the need to strengthen capital liquidity for continued growth and sophistication in the sector.
“A key impediment to growth remains capital. While we’ve witnessed growth in offshore capital investments over the past decade, recent years have seen somewhat muted activity from a scale perspective. Liquidity in the asset class is crucial to unlocking further investment, necessitating a deepening of both institutional investors and developers to fully complete and optimize the investment cycle,” adds Akinhanmi.

Anderson-Ogle shares this sentiment, concluding, “We’ve witnessed substantial progress across Africa, and we eagerly anticipate the in-person gathering on November 22. It will provide a unique opportunity for developers and investors to explore ways of unlocking development and capital for further growth and development in Nigeria and West Africa.”

With over 100 companies represented on November 22 and featuring a stand-alone Hospitality Forum, Cocktails, and more, this year’s event underscores the growing interest in Nigeria and Ghana’s real estate markets for investors and developers.

About the WAPI Summit | November 22: Established as the region’s premier real estate gathering, the 9th annual WAPI Summit will take place live from Lagos on November 22, 2023. As the only regional annual event connecting international money to local opportunities and players, the summit will host more than 60 speakers and 250 attendees.