Download agenda - West Africa Property Investment Summit

AGENDA
DAY 1 : 16 NOVEMBER 2016
07h30-09h15
REGISTRATION & BREAKFAST
09h15-09h30
OPENING ADDRESS BY PLATINUM SPONSOR: BOLAJI EDU (BROLL PROPERTY GROUP)
09h30-10h00
WEST AFRICAN ECONOMICS AND ITS EFFECT ON REAL ESTATE
Despite economic downturn, multinational companies, retailers and private equity funds continue to invest in West Africa. With West Africa’s largest countries looking to diversify their economies,
real estate investment has received increased attention as construction and development is expected to be a substantial contributor to GDP going forward.
Which economic factors are affecting your business?
• Nigeria Recession: What are the implications for the real estate sector?
• What are the potential effects of Brexit on West Africa?
• IMF to the rescue: Is Ghana finally over its woes and can we expect an uptick in retail and commercial projects?
• Ghana elections: The predictions and the effect on the economy.
• Ivory Coast: Sub-Saharan Africa’s fastest growing economy?
SPEAKER: Gideon Amissah (ICEG)
10h00-10h45
INVESTOR SHIFT IN FOCUS?: ANGLOPHONE WEST AFRICA VS FRANCOPHONE WEST AFRICA
On the back of economic headwinds in Ghana and Nigeria, investors and developers have started to look at Francophone West Africa with far more interest.
How do the markets compare and can we expect to see a shift in global and regional capital flows?
• Naira Unpegged vs. Nigeria recession: The currency risk and the parallel dollar market, together with the acute shortage of dollar liquidity and the imposition of capital controls is weighing on
retailers, corporate occupiers, developers and investors alike. Will the floating currency help bolster the market or have investors retreated as a result of the recession?
• Mass vs. harmonised market: One central bank, one stock exchange and one harmonised legal framework across all Francopohone countries. How does this scenario bode for investor sentiment
and should we expect to see a shift in global and regional capital away from the previous Ghana & Nigeria bias?
• The CFA Franc is used across majority of the Francophone countries. In the wake of currency devaluations and uncertainties across Anglophone West Africa, how does the euro-based currency,
coupled with low inflation encourage investor interest?
PANELISTS: Funke Okubadejo (Actis), Kofi Asomaning (Capri Investments), Nnema Byrd (Stanlib Africa Direct Property Development Fund), Herve Boyer (Standard Bank)
10h45-11h00
TEA & COFFEE BREAK
BREAK-AWAY SESSION: BALTSCHUG ROOM
BREAK-AWAY SESSION: PALM JUMEIRAH ROOM
11h00-11h45
WEST AFRICA HOTEL INVESTMENT OUTLOOK: CAN WE EXPECT FURTHER HOTEL
INVESTMENT AND DEVELOPMENT ACROSS WEST AFRICA?
BOOM, BUBBLE OR BUST: LAGOS & ACCRA OFFICE MARKETS
Global brands and investors are increasingly penetrating the hotel sector in West Africa with
opportunities for investment likely to present themselves at an accelerating rate as more
investment grade assets enter the market. Key challenges are certainty of exit and liquidity in
the market as well as short-term volatility in currencies. Can we expect further hotel
investment and development across West Africa?
DISCUSSION LEAD: Xander Nijnens (JLL)
DISCUSSION LEADERS: Lasse Ristolainen (Hilton), Amaechi Ndili (Lionstone Group & Golden Tulip
West Africa Hospitality Group), Andrew McLachlan (Carlson Rezidor Hotel Group)
12h00-12h30
With a slew of new office developments coming to market on the back of sluggish economic growth, can
we expect downward pressure on office rentals across Accra & Lagos? Which city will be worse off?
• Accra Vs Lagos: Lagos is the clear winner in terms of population, market scale and economic
potential. However, for ease of doing business, simply getting to and from the airport, and the
cost and quality of life, Accra is likely to be favoured. Who will win the race and where will the
majority of multi-nationals set up shop?
• Has the office development model changed? How are developers adapting to the current climate
and what leasing strategies are being used?
DISCUSSION LED BY: Eric Abu (Broll Property Group), Bolaji Edu (Broll Property Group)
DISCUSSION LEADERS: Joe Orji (Landmark Africa), Karim Ibrahim (Dream Realty Ltd.)
OCCUPIER SERVICES : CORPORATE REAL ESTATE AS A DRIVER OF COMPETITIVE ADVANTAGE
Shifting the focus of real estate to the demand side of the equation – we look at the role that corporate real estate can play not only as a facilitator to business and economy, but also in providing a
competitive advantage to companies.
• Who are the large corporates looking at investment in Africa? Why?
• What are the key trends in this specialised area of real estate services?
• Real estate decisions cut across all areas of performance whether operational, financial, environmental and strategic. How do companies use these services as a platform for competitive advantage?
• How are the requirements of multi-national occupiers changing the face of African cities ? How do we build better partnerships between all segments of the market?
SPEAKER: Jess Cleland (Broll Property Group)
12h30-13h15
WEST AFRICA PROJECT SHOWCASE. Which West African projects are making the headlines in 2016?
This session will allow active developers in West Africa to present their projects in 5 slides within 5-7 minutes, giving the audience the opportunity to witness first-hand how the West African
landscape will change in the coming years.
PROJECTS & PANELISTS: 1. Appolonia, Ghana: Holger Adam (Rendeavour), 2. Landmark Village, Lagos: Joe Orji (LandMark), 3. Festival Mall & Residences, Lagos: Hakeem Ogunniran (UPDC),
4. Conseil de l'Entente, Abidjan: Gregory Skeen (G5 Properties)
13h15-14h10
14h15-15h00
15h00-15h45
NETWORKING LUNCH
BREAK-AWAY SESSION: BALTSCHUG ROOM
BREAK-AWAY SESSION: PALM JUMEIRAH ROOM
GHANA HOUSING: MARKETING & SELLING IN A HOSTILE ENVIRONMENT
THE PERFECT STORM: NIGERIA UNCOVERED
HOSTED BY: GREDA. DISCUSSION LEAD: Samuel Amegayibor (GREDA & MD Homes Direct Ltd.)
DISCUSSION LEADERS: Elvin N. Larkai (Devtraco Ltd.), Kojo Addo-Kufuor (Ghana Home Loans),
Ibrahim Bah (Regimanuel)
DISCUSSION LEAD: Jemil Dawodu (Cushman & Wakefield Excellerate)
DISCUSSION LEADERS: Lanre Fatimilehin (Africa Real Estate Investment and Asset Management - ARIA),
Richard Vedelago (Wrothams & Windsor Ltd), Hakeem Ogunniran (UPDC), Adetope Kayode (HTI Consulting)
FINDING SOLUTIONS TO WEST AFRICA’S MORTGAGE & AFFORDABILITY CRISIS
LIVE, WORK & PLAY: ASSESSING THE SUCCESS AND VIABILITY OF LARGE MIXED-USE
REAL ESTATE DEVELOPMENTS IN WEST AFRICA
The residential market in Ghana is the most active to date, registering over 85,000
transactions a year over the past decade, however, with an abundance of new residential
developments both in the pipeline and coming to fruition on the back of weakened consumer
purchasing power – how are developers going about marketing and selling homes in the
current negative climate? Have developers produced the right product for the market and are
these developments catering for the lower income segment?
There are many suggestions, however, a key point remains - that not one organization or
government can solve the housing problem by itself. It will require a coming together of
shared interests and an understanding that a one-dimensional approach will not suffice.
Leaders debate what the various options are and try find mutual ground to working together
towards a common goal.
• Tackling socio-cultural impressions of home ownership and brick- and-mortar homes.
• The fact remains that most of West Africans’ cannot afford to buy a home at current market
rates. Is government incentives and legislation to support rental housing models a feasible
option?
HOSTED BY: Elizabeth Ogonegbu (Shelter Afrique).
DISCUSSION LEADERS: JD Diabira (Westbridge Mortgage REIT), Kojo Addo-Kufuor (Ghana Home
Loans), Charles Bonsu (HFC Bank Ltd.)
15h45-16h00
The perfect storm is brewed with the combination of an acute shortage of dollar inflows, the
spectre of currency devaluation, increasing inflation, rising interest rates,fuel shortage and
insufficient power supply for Nigerian investors and operators. Developers, investors and financiers
discuss on the ground experiences of how they are facing these challenges and operating through
these tough times as well as looking at potential oppurtunites. With the devaluation in assets, is
now the right time to get into this market?
• The economic parameters which drive these projects and the market reality of the feasibility
studies on which they are based.
• Mapping a detailed project delivery plan for mixed-use developments in West Africa – master
plan, phases and architectural design
• The Exchange, Meridian City, Centenary City, Appolonia, The World Trade Centre (Abuja). What
can we learn from West Africa’s mixed-use experiences thus far?
• Middle, high- end and luxury residentials. Which is best suited for these developments?
DISCUSSION LEADERS: Holger Adam (Rendeavour), Chris Titmas (Profica)
TEA & COFFEE BREAK
www.wapisummit.com
[email protected]
+27 11 250 2260
16h15-17h00
THE DEVILS IN THE DETAIL: KEYS TO IMPLEMENTATION & PROJECT DELIVERY IN WEST AFRICA
One of the challenges to international and regional investors or operators developing their activities in West African markets is access to rigorous and accurate market information as well as skilled
professional teams with a local understanding. In West Africa, as in most of emerging markets, local knowledge remains crucial for decision-making and sound implementation. From land
acquisition to project close-out & handover, how are investors and developers implementing on their investments? FM, PM’S, architects, contractors, lawyers, and developers share insight into
project delivery in West Africa. The challenges, intricacies and precautions taken when delivering, as well as maintaining assets & projects in the region.
• Why can planning a project in Africa be so difficult? Does the lack of town planning legislation and informal markets add complexity? How do we overcome these issues?
• Maintaining and preserving assets in West Africa: Is there enough local skills to adequately manage the properties?
• From an FM perspective: Are tenants’ requirements in West Africa putting the pressure on developers to produce higher quality buildings?
• How does risk analysis, mitigation & management vary between Anglophone and Francophone West Africa?
• How important is it to have a French speaking project management team in order to deliver on projects in Abdijan & Dakar? How different is the operating environment in these countries?
PANELISTS: Chris Titmas (Profica), Moses Honu (Diagonal Projects Africa), Gregory Skeen (G5 Properties)
17h00-17h15
MC WRAP-UP
17h30-21h00
COCKTAILS & CANAPÉS - AFTER EVENT PROCEEDINGS
DAY 2 : 17 NOVEMBER 2016
08h00-09h15
REGISTRATION & BREAKFAST
09h20-10h00
WEST AFRICA CAPITAL MARKETS: DEBT, EQUITY AND BEYOND
Industry Leaders will look at overcoming the main challenges in real estate development funding as well as the current investment environment given the shifts in the economy. The panelists will
debate the options in securing funding for projects asking what is it that the banks, investors and financiers are looking for?
• Liquidity: There is a lot of difficulty in repatriating hard currency from West Africa markets and this will continue to be a significant hindrance for doing business on the continent mainly due to
domestic liquidity conditions or foreign exchange controls. How do you see this issue evolving in the next 2-3 years?
• Nigeria: Lenders are keeping a close eye on the servicing of existing debt facilities and will be very cautious in the writing of new loans, with a renewed focus on the sponsor and property
fundamentals, lower loan to values (LTVs) and higher credit margins. Are global and regional investors willing to put down more equity?
• The past year has seen a number of transactions take place with the likes of Ikeja Mall changing hands as well as other assets across the region. Is market liquidity financially maturing?
• Development Finance institutions (DFIs) & Pension Funds: With increasing allocation given to real estate will DFIs & Pension Funds start to play a larger role in property development in West
Africa?
• The West African capital market remains small and underutilized despite the stock market being a great avenue for enhancing the mobilization of public funds. Can we expect this financing
avenue to evolve in the short term?
MODERATOR: Anthony Lewis (JLL) PANELISTS: Niyi Adeleye (Stanbic IBTC Capital), Yofi Grant (Grant Dupuis Investments Limited), Charles Boahen (Black Star Advisors (BSA) & Primrose Properties GH Ltd (PPG))
10h00-11h30
11h30-12h00
12h00-12h45
WEST AFRICA RETAIL POWER PANEL
The West African retail market has evolutionized over the past ten years. There has been a considerable growth in the sector with over 25 new retail developments in the pipeline in Nigeria alone.
Exclusive to WAPI, Both the pioneers and the leading development minds in the industry come together for a vigorous 90-minute debate. From the early developments of A&C mall, Accra mall, Ikeja
mall, Palms Lekki all the way to the newly opened Lekki mall in Lagos and Achimota mall in Accra, we delve into the intricate details of past success stories as well as what it takes to develop
successful retail centres in the current economic climate.
• How has the West African retail sector evolved over the last 10 years? Have development models changed? What is the outlook going forward? Will all these proposed malls come to fruition?
• What are mall owners doing to accommodate their tenants’ cash flow constraints? Will rental reversions and renegotiations be a long term problem?
PART 1: GHANA FOCUS: 10h00-10h45
PART 2: NIGERIA FOCUS: 10h45-11h30
PANEL:
Edmund Kwabena Asamoah (A&C Development Co. Ltd)
Kevin Teeroovengadum (AttAfrica)
Michael Chu’di Ejekam (Retail Investment Platform)
Leonard Michau (Broll Property Group)
PANEL:
Lanre Fatimilehin (ARIA)
Jan Van Zyl (Novare)
Michael Chu’di Ejekam (Retail Investment Platform)
Tolu Sokenu (Actis)
Leonard Michau (Broll Property Group)
TEA, COFFEE & NETWORKING BREAK
BREAK-AWAY SESSION: BALTSCHUG ROOM
BREAK-AWAY SESSION: PALM JUMEIRAH ROOM
IMPROVING MARKET TRANSPARENCY AND BUILDING INVESTOR CONFIDENCE
BATTLE FRANCOPHONE:
THE PARIS OF WEST AFRICA VS WEST AFRICA’S DARK HORSE
The huge shortage of property related data for emerging markets in West Africa is
something that is highly problematic in terms of attracting foreign investment into the
region. Going hand in hand with this are the problems surrounding the need to combat
corruption and improve the transparency of doing business in West Africa. Can West Africa
meet International Property Measurement and Valuation Standards?
• Market Data Transparency- how is this evolving in the region?
• What actions are being taken to ensure global consistency in measurement and
valuations to provide consistent and reliable property data?
HOSTED BY: RICS & GREPA
DISCUSSION LEADERS: Benjamin Manu (Royal Institution of Chartered Surveyors - RICS),
Herbert Lawson (First Atlantic Bank Limited), Elvin Larkai (Devtraco Ltd.),
Kenneth Owusu-Mensah (Broll Property Group)
12h45-13h30
‘The Paris of West Africa’: Abidjan has regained its glamour, lustre and is rebuilding its
infrastructure. It is considered one of the foremost African cities in terms of fashion, culture and the
standard of living. With the opening of a shopping mall with European and American brands can
Abidjan now rival the trendiest world capitals in terms of fashion and quality consumer goods?
West Africa’s Dark Horse: Senegal is in many ways “the average” African market—limited in
attractiveness for retailers (high poverty and low incomes), a little risky to do business, yet highly
unsaturated with strong economic growth and a burgeoning retail sector. As in much of West Africa,
Senegal will be tough in the short term, but the timing may be perfect to consider entry. Will
investors follow suit?
DISCUSSION LEAD: Ivan Cornet (Latitude Five)
DISCUSSION LEADERS: Charlotte Specht (Horwath HTL West & Central Africa),
Dominique Banny (Standard Bank Corporate and Investment Banking)
THE MISSING LINK? GOING BEYOND PPP’S & BRINGING PUBLIC AND PRIVATE SECTOR TOGETHER
There is an obvious need to bridge the gap between private and public sector participants. This session will debate the ways in which collaboration between the sectors can further enhance
the West Africa real estate sector.
• The success of private-public ingenuity is dependent on strong institutional and regulatory frameworks as well as adequate risk and reward. Can investors’ return expectations be met
through these partnerships?
• Inadequate bureaucratic capacity within African governments’ PPP units has often resulted in projects falling victim to an array of technical delays, allegations of corruption and cost
overruns and eroding economic rates of return. How do we overcome these bureaucratic hurdles and create a mutually beneficial landscape?
• Government decisions and regulations can seriously affect FDI. What can be done to open the dialogue between private and public sector in order for officials to pass through commerce
enabling legislation? Especially with global investors?
PANELIST: Carl Nelson (GIPC), Ghana Tourist Development Company Ltd, Karim Ibrahim (Dream Realty Ltd.), Andrew Murphy (Ecolodge Company Ghana Ltd.)
13h30-14h30
NETWORKING LUNCH
www.wapisummit.com
[email protected]
+27 11 250 2260