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Why Nigerian real estates must embrace global de-carbonisation

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A real estate firm, The Address Homes has emphasised the urgent need for property firms to embrace the global shift towards the reduction of carbon emissions into the environment.

This is in sync with an increasingly challenging and volatile ecosystem in which more than 60 percent of carbon emissions within cities typically come from buildings.

Speaking at the sidelines of the 2022 Real Estate Unite Summit recently held in Lagos, the Marketing Manager of The Address Homes, Mr Segun Ogunbiyi recalled that there had been various calls across the real estate sector and beyond for individuals and business entities to prioritise clean and renewable sources of energy.

Ogunbiyi, who is also Client Sales Executive of the company said that all hands must be on deck to ensure the preservation of the environment through sustainable practices in the real estate sector.

He further said: “The world is trying to see how it can reduce the emission of carbon monoxide to secure nature. There’s a need for all real estate organisations to create a sustainable policy within their system that revolves around the workforce, work methodology, the design and the team.

“There are no quick fixes that will suddenly transform today’s energy inefficient buildings into models of sustainable construction in the coming decades. It will take time, investment and expertise to retrofit the majority of buildings across urban areas.

“Yet given that more than 60 percent of carbon emissions within cities typically come from buildings, a concerted effort is needed sooner rather than later.

“It’s why longer-term commitments for a net-zero future are now fuelling shorter-term pressures to start formulating action plans that will deliver steady progress”.

According to him, one big step towards embracing greener energy sources would be to phase out the use of fossil-based power sources, a practice embraced by The Address Homes.

“When you put on a log of generators, there is carbon emission. Technologically, It is being advised that we should start the installation of solar systems, and electric systems in order to sustain the ecosystem,” Ogunbiyi said.

The Address Homes Limited, a leading real estate company engaged in the acquisition, development and management of luxurious contemporary homes across Nigeria.

In her intervention, Convener of the Unite Summit, Ruth Obih said the summit, which is in its 10th year, was created to fill the global gap noticed in the industry. “When we started about 10 years ago, I felt there was a global gap that we needed to fill, that we needed a global summit for the industry to dialogue, talk about issues, challenges industry and trying to find solutions”, she explained.

Obih noted; “Over the years, the annual summit has been able to address some critical issues in the real estate industry. However, what we have found over the years is that when we find an issue today and you think you have addressed it, tomorrow another issue comes up. That’s how we have been taking it in filling the gaps. Why we are at this sustainability conference today is that we realised that, for us even achieve any of the solutions that we have, we need to take one step which is sustainable development. And that’s why we are here today to preach the gospel of sustainability so that people can begin to understand what sustainability is, especially with the growth environment and begin to also take steps in seeing how we can take care of this climate crisis.

“According to data, the industry contributes about 40 per cent of carbon emission to the environment. That is quite huge. To address this, it comes from your planning, design, and construction. If we begin to take better sustainable steps, at least in this industry, we can be able to reduce the risk of a climatic crisis which is a potential pandemic which could be worse than COVID.”

Describing The Address Homes as a new brand with less than 10 years in the industry, Obih, who is also the Founder of Unite Community, said the firm has been consistent with its promise of delivering luxury homes that combine high class contemporary architectural design with high-level finishes.

She however noted that with what she has seen, in the next few years, The Address Homes would be able to achieve certified sustainable luxury buildings that are free from carbon emission.

Also, the Client Sales Executive of The Address Homes, Doyin Olaleye, said that the real estate firm believes that Nigerians could actually live in luxurious homes without having to break the banks.

“At The Address Homes, we make luxury, premium and high-end homes available to people at affordable prices. We encourage a convenient payment structure for our customers. When people hear about luxury homes, they believe they have to break the banks before they could be able to afford to live in houses in Ikoyi, Lekki and Banana Island. But we at The Address Homes believe that people can actually live in those places without having too much pressure on their finances.

“We make it possible by giving you a well-structured payment plan, in which you pay within two to three years conveniently. We don’t really go strict on our payment plan. We work with your finances to make it easy for you because we believe that luxury is for everyone”.

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