African Real Estate Professionals Advised to Find Value, Opportunities in Global Challenges

Bennett Oghifo

Professionals in real estate business have been advised to find value and opportunity in the  global challenges.

The President of the African Real Estate Society, (AfRES), Dr. ESV Kunle Awolaja, gave this advice at the Society’s inaugural Presidential Lecture held in Lagos recently.

Awolaja said it was “an occasion that holds special significance as we honour the late ESV Akinola Olawore. His vision and dedication laid the foundation for the sustainability of AfRES, and it is fitting that we dedicate this event to his memory.”

Awolaja said, “Our theme today, ‘African Real Estate Outlook: Finding Value After the Great Reset,” underscores the transformative journey we are on, navigating through global challenges and emerging stronger and more resilient.”

According to him, “Today’s theme challenges us to find value and opportunity in the face of global shifts. The ‘Great Reset’ has presented us with unprecedented challenges, but it has also opened doors to innovation and transformation. It is a call to action for all of us to harness our collective expertise, creativity, and resilience to shape a sustainable and prosperous future for African real estate.

“We are privileged to have Professor Timothy Gbenga Nubi, a distinguished scholar and Professor of Housing and Urban Regeneration at the University of Lagos, as our keynote speaker. His insights will undoubtedly inspire us to explore new frontiers and seize the opportunities that lie ahead,

“Let us remember that the strength of AfRES lies in our unity and shared vision. Together, we can navigate the complexities of our time and create a future where African real estate stands as a beacon of innovation, sustainability, and excellence.”

Reflecting on the past year since his inauguration, as the body’s president, in Nairobi, Kenya, he said, “I am humbled by the remarkable progress we have made together. 

“One of our significant achievements has been the inauguration of constitutional committees to aid in our mission. The Women’s Committee, the Elders Committee, and the Future Leaders of AfRES ( FLAfRES ) have been instrumental in guiding our efforts. These committees ensure that we remain inclusive, forward-thinking, and deeply connected to our roots and future aspirations.

“A particularly momentous milestone was the inclusion of the Caribbean through the assistance of His Excellency, Ambassador Williams, Antigua and Barbados, as the sixth region of the African Union, into ASRES as our fourth chapter. 

“This expansion is not just a geographical achievement but a testament to our commitment to fostering global partnerships and uniting real estate professionals across diverse regions. Our efforts to expand the Francophone Project into the West Africa Region have borne fruit through our collaborations with esteemed colleagues such as Surv Adama Sar, Mayor of Dakar, and PP Martey/Surv Mrs. Aboah, West Africa Chapter Chair. The planned Francophone summit in Dakar, Senegal, in May 2025, will further solidify these bonds and enhance our regional integration. in our pursuit of excellence, we have also signed Memoranda of Understanding with three prestigious international organisations: the South Africa Council of Professional Valuers (SACVP). the Kenya lInstitution of Surveyors (1SK), and the International Real Estate Federation (FIABCI). These partnerships, expertly curated by Dr. Mrs. lgho Fayomi, are pivotal in broadening our horizons and enriching our professional network.

“Another cornerstone of our progress is the establishment of the AfRES Academy. This institution is envisioned as a premier training ground for our members, equipping them with the skills and knowledge necessary to excel in our dynamic industry. The academy embodies our commitment to continuous learning and professional development, ensuring that we remain at the forefront of innovation and excellence.

“As we celebrate these achievements, it is essential to recognize the collective effort that has driven our success. I extend my heartfelt appreciation to Mr. Governor, the Lagos State Executive Council, the Head of Service, the Body of Permanent Secretaries, the AFRES Board of Trustees, and all distinguished AfRES colleagues. I am also deeply grateful to the NIESV President, His Royal Majesty Oba Kehinde Olugbenle, and our highly distinguished awardees for their unwavering support.”