NSE Hosts Real Estate Investment Trust Summit

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By Modupe Gbadeyanka

On Tuesday, May 23, 2017, the Nigerian Stock Exchange (NSE) will host the maiden edition of its Real Estate Investment (REIT) Conference at the NSE Event Centre, Stock Exchange House in Lagos.

Executive Director, Capital Markets of the NSE, Mr Haruna Jalo-Waziri, noted that the REIT Conference is an important meeting of stakeholders to dimension the current state of the real estate sector and to be acquainted with relevant emerging trends, strategies and policies.

The conference themed ‘Real Estate Investment Trust in sub-Sahara Africa: The role of The Capital Market’ will bring together key decision-makers, policy-makers, government officials, private sector players, property developers, asset managers, dealing members, investors and thought leaders to share experiences and explore growth potentials and opportunities inherent in the REITs market in Nigeria and Sub–Sahara Africa.

According to Mr Jalo-Waziri, “One of our aims with the conference is to discuss topical and regulatory issues affecting the REITs within the capital markets and real estate ecosystem as well as proffer strategic solutions for follow up implementation by the NSE in its capital market advocacy role.

“The thought provoking agenda to be discussed at the conference will give participants greater insights and information to the latest industry and global best practices trends in Real Estate investment and its value chain.”

The conference will provide participants an opportunity to listen and engage key industry experts, key regulators, renowned international and local market operators and thought leaders in the real estate sector.

The format will consist of keynote addresses, panel discussions and select topical presentations by industry experts.

The guest speakers and panel discussants include Mr Mounir Haliru Gwarzo, Director General of SEC; Mr Babatunde Fowler, Executive Chairman, Federal Inland Revenue Service (FIRS); Professor Charles Inyangete, CEO, Nigerian Mortgage Refinancing Company; Ahmed Lawan Kuru, Managing Director, AMCON; and Haruna Jalo – Waziri, Executive Director, Capital Markets, NSE.

Others are Tinuade Awe, General Counsel & Head Regulation, NSE; Ehimeme Ohioma, Head Investment Supervision, PENCOM; Kenneth Masika Chief Executive Officer STANLIB Fahari I-REIT, Nairobi, Kenya; Olumayowa Ogunwemimo, Managing Director, FSDH Asset Management; Adeniyi Adeleye Head, Real Estate Finance (West Africa) for the Standard Bank; Taiwo Oyedele Partner, PwC West Africa Tax Leader; and Yinka Edu, Partner, Udo Udoma & Belo-Osagie.

Also expected are Tolu Sokenu, Investment Principal, Actis; Mr Hakeem Ogunniran, Managing Director/Chief Executive, UPDC PLC; Aishetu Dozie, Head Investment Banking Division, Rand Merchant Bank Nigeria; Mr Kola Ashiru-Balogun, Managing Director, MIXTA Nigeria; and Tola Akinhanmi, Real Estate Debt Structuring and Advisory Stanbic IBTC Capital.

In 2007, SEC issued the first set of guidelines for the registration and issuance of requirements for the operation of REITs in Nigeria as detailed in the Investment and Securities Act (ISA).

This has led to the listing of three REITs companies with a market capitalization of about 40 billion naira as May 10, 2017.

Currently one REITs offer is about to be concluded and should be listed on the NSE this year.

REITs are investment vehicles that can be traded on a stock exchange and are primarily involved in investing and owning income-generating real estate assets.

They allow both small and large investors to invest in portfolios of large-scale properties without actually having to go through the rigors of buying or financing property.

The 2017 REITs conference is sponsored by Stanbic IBTC Holdings Plc, FSDH Asset Management Limited, PricewaterhouseCoopers (PWC), United Property Development Company (UPDC) Plc, Rand Merchant Bank (RMB) Nigeria Limited, Udo Udoma & Belo-Osagie and Mixta Nigeria.

Interested participants can register online for this non-fee paying conference at http://www.nse.com.ng/NSE-REITs-Conference​.

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