• Wednesday, May 22, 2024
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Sustainability, green building critical to next phase of Africa’s real estate –Experts

Land Republic embraces ‘green real estate’ in drive for sustainability

Accelerating sustainability and green buildings are critical to the next phase of Africa’s real estate sector, experts have said.

The experts, who gathered for this year’s African Property Investment (API) Summit recently, also spotlighted the issue of declining power supply and the need to hit a net-zero carbon emissions status.

This year’s summit, which had as theme, ‘AFCA, RE-SET’ held at the new Marriott Hotel at Melrose Arch in South Africa.

The 2-day annual event had about 40 African countries represented and it showcased the best in real estate on the continent.
“Captains of industry from different sections of the built environment were present at the event,” Gbenga Olaniyan, CEO, Estatelinks Limited, told BusinessDay.

Olaniyan who was at the event, added that, “from Nigeria, best practices on facility management and real estate brokerage were highlighted.”

He recalled that during the commercial real estate segment, a key development known as the Trinity Towers was showcased as the only A grade commercial project highlighted at the event.

Trinity Towers is an iconic mixed use building being developed by a province of the Redeemed Christian Church of God (RCCG) in the Oniru area of Victoria Island, Lagos.

Read also: NGO mulls reduction of building resource content to achieve greener future

“Trinity towers was highlighted as the first tri-tower building in West Africa and received accolades when presented by the brokers–Estatelinks and Knight frank Nigeria,” Olaniyan noted.

Continuing, he said, “the brokers advised the teeming audience to take a position by leasing a space in this edifice which is now being completed.”

As a piece of architecture, Trinity Towers is just like any other office complex in its class.

But unlike any other complex, it offers very unique, spectacular and compelling value propositions which a savvy investor and business concern can hardly gloss over.

According to the promoters, an entry into this best-in-class property with an opportunity to adjust to specification with early commitment into long lease option is, indeed, as good as an outright sale as an adult buyer practically holds the space beyond his life time.

They assure investors that there is stability of investment in Trinity Towers which implies that, unlike the common short lease arrangement, the long lease offering serves up security on investment as well as cuts out the cost associated with relocation, new premises renovation and fit-outs.

Olaniyan recalled also that the second day of the summit featured a proptech and hospitality forum with multiple networking areas to build stronger business relationships all over Africa.

He added that the event ended with participants continuing to brainstorm on best practices in the real estate sector in a bid to give African real estate a pride of place in the world.