Real Estate Operators Prepare For Heavy Rainfall
The Chairman, Nigerian Institution of Estate Surveyors and Valuers, Adedotun Bamigbola, has said there is need for stakeholders in the real estate sector to work with the government on preventive measures that challenges from heavy rainfall can cause to the real estate sector.
He spoke during a webinar on, “2020 rainfall forecast: Impact on real estate and the environment,” which was attended by different practitioners in the sector.
Stakeholders spoke on ways to mitigate the challenges envisaged from predictions by the the Nigerian Meteorological Agency that Lagos State would experience a rainy season of 240 to 270 days in 2020.
“We are going to be having 240 and 270 days of rainfall in 2020 and that is a critical thing to look at because it is going to impact on real estate and a few other things,” he said.
He said the institute looked at the issue and felt there would be a need to educate Nigerians, and most especially, Lagos residents on preventive measures against excessive rainfall.
During heavy rainfall, he said real estate investment and investors, house owners, tenants and occupiers would be faced with challenges.
He observed that the experience had not been pleasant in Lagos, especially on the highland for a long time when there were heavy downpours.
He stressed the need for stakeholders in the real estate sector to come together and define a way to handle such challenges.
According to him, real estate practitioners can work with the government, such as the ministry of the environment by forming a partnership on how to educate the practitioners in the property sector.
“We can educate the practitioners in property sector and also educate the occupiers of this property so that there can be a synergy and preventive measures ahead of heavy rainfall.
“We approached the ministry so we can work with the Lagos State Government to stem the tide of ugly experiences we usually hear from such incidences.”
Courtesy: Punch Newspaper