NIGERIA AT 61: THE JOURNEY TOWARDS SUSTAINABILITY

NIGERIA AT 61: THE JOURNEY TOWARDS SUSTAINABILITY

Although, Nigeria moved up 15 spots on the Jones Lang LaSalle’s Global Real Estate Transparency Index from position 83, the challenges in housing and sustainable development in Nigeria are enormous. The extremely limited access to mortgage continues to prey on Nigerian lives, while housing struggles to match up with population growth. The limited quantity of long-term housing development loans has impeded on the nation realising the full materialisation of the real estate sector.

 

This has yet to break the spirit of a people who have endured more than just limited sustainable housing. Nigerians are as sustainable as they are resilient. Just as sustainable development has been defined in the Brundtland report as development which meets our current needs without hindering the ability of future generations to meet theirs, resilience is basically all decisions made to tackle the challenges that hinder such developments. However, it is no longer news that sustainable housing has been one of the crucial needs that Nigerians have found difficult to access.

 

It takes a peculiar kind of people to experience irregularities and still emerge optimistic and resourceful especially when these irregularities touch on one of their most basic needs. 

Although, our architecture today has aligned itself with global standards, it can only remain so unfortunately, as long as sustainable policies are formed. Therefore, celebrating 61 years of independence should not be draped in Nigerians weakly clawing for makeshift options of shelter but for the cream they deserve: sustainable housing –– which is still very within our reach and quite possible to realise.

 

Happy 61st Independence, Nigeria!

ALIYU ALIYU

CHIEF EXECUTIVE OFFICER

BILAAD REALTY LTD.

EMPHASIS ON OUR PERSPECTIVE

More than just 61 years but for hundreds of years, Nigerians have creatively made decisions in the most challenging of times to deal with the elusive essential of sustainable real estate. This was notably present in the Hausa Pre-Colonial architecture of mud, stones and grasses which helped shield the Northern people from the scorching winds from the Sahara. Also evident in Igbo architecture in the same period were cave-inspired tight encasements of pitched roofing with priority given to warmth and wind aversion. The Yorubas prioritized termite-resistance which they found in bamboo rafters in the same era.

 

Although the modern history of housing provisions in Nigeria has been a dramatic one, Nigerians endured the journey and are now presently looking forward to the possibilities of housing solutions with closer proximity to their need for sustainability.

 

Formulation of good policies and seeing to their implementation; development of new building materials as well as improvement in the efficiency of local building materials have been proposed by Obianyo et al. (2001), as solutions to actualizing mainstay sustainable housing. These could be the modern version of Nigerians yet again manifesting resilience or at least a variety of it in protecting sustainable living. The solutions prescribed are centered on the practice of research which is only necessary for viable outcomes.

Research and Housing Policies

Agbola and Alabi (2000) defined policy as a plan of action, a statement of aim and ideas. Housing policy is thus a guideline provided by government which is aimed at meeting the housing need and demand of the people through research and a set of appropriate strategies including fiscal, institutional, legal and regulatory frameworks (Agbola, 1998).

 

Therefore, results of research in the real estate sector can be used in policy making to aid the advancement of the Nigerian housing and urban development sector, and creating a repository for storing research findings will make it easy for policy makers to access information to be used for formulating well informed policies for sustainable housing and urban development.

 

Development of Functional Designs

 

The efforts of the government in its approach to achieving the goal of the National Housing Policy and its institutional framework has continuously proven futile. Therefore, it has become very necessary to carry out incisive research to develop new functional designs for housing and urban infrastructure for providing adequate housing and urban infrastructure in Nigeria.

 

Reinforcing the Efficiency of Local Materials

Research is also beneficial to optimizing already existing local materials. Applying research findings aimed at improving the strength, durability and efficiency of local materials will enable them to compete favorably with foreign ones.

 

Although these solutions are yet to be effective, the real estate sector in Nigeria is ever expanding as was evident in demand rising by double digit figures in 2019. According to Nigeria Property Centre, enquiries of listings increased by 72% that year.

 

Bilaad Realty, like the nation continue to brave the storm in the mission to building sustainable cities. 61 years, and more before then, have been ample time for all our memorable challenges to heat this land into solid rock and like in the words of Gordon Hinckley, “You can’t build a great building on a weak foundation”.

COLLABORATION: CHALLENGING THE NORM

COLLABORATION: CHALLENGING THE NORM

According to Richard Watkins in an article published by the HR magazine in 2017 “We are born into groups; we live in groups and everything of value is always in groups. No one has ever really achieved anything on their own.” (Richard Watkins, 2017). While collaboration might be as old as humanity itself, it has never been more important in the world of work. The power that is collaboration has with time, gained momentum and has been recognized as an effective tool towards a nation’s growth.

Across Nigeria and African real estate industries, associated sectors, and regulators, there is a crucial need to understand that cross sector collaboration is important to achieving large scale sustainable development as each sector has a vital role to play. As a means of coordinating different ideas to generate a wide variety of knowledge, collaboration has shown to positively impact performance and outcomes of innovation.

The concept of sustainability is focused on developing society to a state where it can exist in the long term. This means taking into account the partnerships between government, private sector and civil society. Over the years, countless efforts by the government and other stakeholders have been made to tackle several complex changes but many have failed because of competitive self-interest, conflicting priorities and a lack of a fully shared purpose.

Every sector faces the challenge of moving from an industrial past to a sustainable future, and the real estate industry is no exception. While there is no one-size-fits-all strategy to respond to the changes the industry is experiencing, it is evident that individuals and organizations need to develop, implement and integrate a clear strategy to stay ahead of the curve.

ALIYU ALIYU

CHIEF EXECUTIVE OFFICER

BILAAD REALTY LTD.

EMPHASIS ON OUR PERSPECTIVE

 

Because collaboration in business is generally intended to confer benefits to the parties involved as it revolves around the exchange of knowledge, monetary resources and other forms of value, such collaborations go through good and bad phases leaving both parties asking questions like: Who stands to profit the most in this sustainable collaboration development?

 

From Self Interest to Shared Interest

 

The automotive industry, for example, has shaped a sounding statement of success through collaborations and partnerships within its industry. Toyota is the largest car company according to the world atlas with a production of over 20 million cars in the year 2017, and over the years managed to reduce production costs and increase vehicle quality by adopting Just-in-time (JIT) and Lean production systems. This model simply extracts from the values of collaborations and partnerships.

 

Another example of an organization that strives for strategic collaborations is the Institute of Real Estate Management which is a collaboration of 29 real estate-related organizations focused on raising awareness and attracting diverse talent to the many careers available across the built environment.

The initiative to highlight the diverse career paths within the real estate sector, was both ground-breaking and exemplary.

 

More than ever, businesses are being challenged to help tackle social and environmental issues. As a result, an increasing number of top firms are taking the sustainability challenge seriously, not only to decrease their environmental impact and improve their reputations, but also to improve their operations and financial performance.

 

Collaborating for Sustainability

 

(Rangaswami, M et al., 2021). Long term value from a customer or consumer perspective can imply so many things. In context of our complex, and service-driven global world, trade relationships between countries (like Nigeria and the rest of the world) influences industry outcomes particularly in real estate where supplementary input materials need to be sourced. Accordingly, what we find is cross border collaboration to achieve mutual benefit and sustainable success that satisfies customer and consumer expectations.

It is important to understand collaboration requires the right blend of values that are shared across participating stakeholders to create the sustainable outcome as planned. While it is easy to think that the brightest minds would yield most favourable results in activity, their size, composition, competence, and dispositions can make or break a vision. Interestingly, “the qualities necessary for success are the same as the qualities that destroy success” (Harvard Business Review, 2021) in complex projects. 

Whether public or private, local and international organizations are faced with this paradox and the solution could not be any simpler; the more complex a team is, the more you require a uniting purpose. It could be in a product they love, or a shared, passionate vision for the future.

 

To Collaborate or not to Collaborate?

 

Sustainable Collaborations raises a number of questions. What are the pros and cons of partnering with other entities from multiple sectors? Does this approach live up to expectations?  Who stands to profit the most? The reality is that successful collaboration is no easy feat. For some, opening up their companies to partner with other stakeholders may be perceived to be too high a risk –– issues such as trust, mutually shared benefits and imbalance of power often come into play.

 

Progress and breakthroughs cannot be achieved in isolation, as such, working collaboratively with partners to create opportunities will serve as the needed energy to fuel creativity, growth and innovation. At Bilaad Realty, we recognize the importance of collaborating for sustainability and the need to develop approaches that go beyond philanthropy, towards generating shared value. Although the future is unpredictable, one thing is certain – the future of businesses will be defined by collaborations.

 

ARE OPEN HOUSES WORTH IT?

ARE OPEN HOUSES WORTH IT?

FROM THE CEO

Not all choices are created equal. Decisions can have a wide range of value and complexity, which makes streamlining and making a choice strenuous. From choosing a career path, meal, school, spouse, home, we live to keep making decisions that not only make or mar us, but also see us parting ways with our hard earned cash.

For many consumers, the purchasing process is routine: you see a need and satisfy that need by going for the most convenient option or trusting a known brand to deliver. Consumers remain, however, who despite the reputation that leading brands have built, still verify multiple details in terms of features, durability, and service.

The same should apply when it involves real estate. Consumers do not always engage in this depth of research when it comes to making that home buying decision. This is a major concern as less experienced and self-serving competitors are now in the market ,causing home buyers to face delay, unnecessary expenditure, and other problems in the long run.

As the real estate market continues to grow, having reliable information at your fingertips is more important than ever. Every day, real estate professionals and prospective buyers alike continue to enter into agreements, with the majority of clients having little or no information about the housing market.

Being deliberate in finding your dream home and choosing a credible real estate developer can lead to more than just consumer satisfaction. It can assure that expectations are met and eliminate the occurrence of buyers’ remorse. It is imperative that buyers are well informed, intentional, and act with confidence when making decisions related to home buying.

ALIYU ALIYU, CHIEF EXECUTIVE OFFICER

Are Open Houses Worth It?
WITH EMPHASIS ON OUR PERSPECTIVE.

 

Are Open Houses Worth It?

The real estate market offers something for every buyer but finding that perfect home takes deliberate effort and dedication. While seeing a specific home requires scheduling and planning, open houses provide one of the easiest ways to get inside a variety of homes quickly. Besides being a fun time, open houses are big research opportunities. When you’ve “tried on” a variety of homes before you seriously begin to shop, you can be more confident that you’ve found the best fit, not only at a fair price, but also in terms of sustainability.

When visiting an open house, you should have a list of questions prepared for the agent or developer, as the case may be, and you should have already conducted some research, too. You want to leave this process feeling that you are well informed to make the right decision.

1.       Embrace the Reality Check.

Perhaps you’ve got your heart set on a specific neighborhood or certain location, attending a couple open homes in your desired area will give you a good idea about how much you’ll need to spend to be in that location, bring you to reality on what your dream home will actually cost, and can help you see the tradeoffs you might have to make

2.      Pay Attention

When buying a home, it’s all too easy to focus on what you love and go blind to downsides and potential issues. Don’t. In the same vein, if you can practice seeing past knickknacks and faux-brick vinyl floor covering, you might just snag a jewel in the rough that other homebuyers take a pass on. Window shopping is your chance to cultivate a critical eye that will serve you well in the future. It is important to take this opportunity to understand yourself, to notice the things you love and the things you don’t.

3.      Look Out

There’s no better way to check out a neighborhood than to attend an open house in one. While you’re there, ask the realtor to give you insight on the area. Are you looking for a neighborhood with a lot of amenities? Perhaps you’re seeking a more peaceful environment. Whatever you desire, talk to the realtor at the open house about your preferences and even take some time to walk through the neighborhood to get a better feel for the area.

One of the many challenge buyers are faced with in today’s wired world is being well informed and learning the identities of prospective agents or developers. Home buyers click their way around hundreds of real estate websites, requesting information via e-mail from scores of agents without really getting in depth information on their purchase.

 

By hosting open houses, we cut through the electronic interface, put you in front and center by giving you a first-hand house hunting experience, helping you define your interests, and begin the professional relationship that leads to real estate success.

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Plot 111 &112 Wing A Jahi, Abuja.
 
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Email : info@bilaadnigeria.com

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