The Ooni of Ife, Ooni Adeyeye Enitan Ogunwusi, Ojaja II led crème de la crème to 7th edition of National House Fair organizer BSTAN Homes and properties which took place recently at Oriental Hotel, Lekki, Lagos, Nigeria’s south-west.

In his welcome address at the event, Ooni Ogunwusi who is the Chairman of BSTAN Group described  dead assets as a major bane in the real estate industry, saying that with the increasing rate of dead assets in many A-rated areas in the country, high cost of products, the younger generation will find it difficult to have access to mortgage, let alone own a property.

”This is a great time in the Real Estate industry in Nigeria. We have many dead assets in many A-rated areas in this country. “In Lagos here, Ikoyi has many and several high brow  areas.

And yet, 25% of Nigerians are without homes. Everything is difficult in this country and it is greatly affecting young people. “It is difficult for young people to access mortgage. Young people are afraid to get loans because of the high interest rate” Ooni said.

Ooni Ogunwusi added that the Lekki-Epe Express corridor in Lagos state is presently the busiest in real estate investment hub in the Nigeria with an injection of over 30 billion Dollars by private sector captains.

Notable among the speakers at the event were the Ooni Of Ife, Oba Adeyeye Ogunwusi, Dr. Olusegun Olufemi Pedro, former Deputy Governor of Lagos State and Economic Adviser to the Presidential Candidate of the All Progressive Congress (APC), Asiwaju Bola Ahmed Tinubu, Sir Olu Okeowo, Chief (Dr.) Olisa Agbakoba among others.

In her opening remark, the Managing Director/CEO of BATAN Group, Engr(Dr) Becky Olubukola described the theme of the programme as a pocket friendly concept for ownership of land and houses, stating that her company was seriously trying to reduce the housing shortage in the country by building affordable houses.

While acknowledging that the real estate sector is lucrative and prosperous, former Deputy Governor of Lagos State, Olusegun Olufemi Pedro added that it is indeed a problematic industry, opining that a lack of long term loan is the bain of the industry.

Further, he stated that the shortage of capital and high rate of inflation is another problem affecting real estate in Nigeria. Furthermore, Pedro said that to solve the challenges in the industry, the economy has to be fixed, as it is when money flows into the hands of people that they can think of investing in properties.

In her goodwill message, the Yeye Oodua, Erelu Dosunmu Abiola called on the government to support the real estate so that it can grow. She discouraged dependence on foreign financial support, describing it as fickle. According to her, foreign investors can support and fail businesses.

In his very short remark, a real estate magnate, Sir Olu Okeowo urged Nigerians not to wait to buy real estate but rather buy real estate and wait. Saying real estate is about the safest investment in the world. which can not be lost or stolen.

Delivering his goodwill message, a legal luminary cum real estate investor, Chief Olisa Agbakoba SAN who noted that long term finances are not present in the country, called on the government to intervene in the housing situation in the country, stating that there is a need for social housing.

Commending the Managing Director of BSTAN Property, Agbakoba said: “I like her faith, she wants to provide land for the masses, Bstan Homes, I wish you the best, and God bless the work of your hand, and I look forward to you organising bigger event next year.”

One of the highpoints of the event was when Benjamin Masebinu was announced as the winner of a plot of land in Ibeju Lekki while about 20 people won other prizes. Masebinu won the land in a raffle draw organised by BSTAN Group for attendees of the event.

President of ICAN, Bashorun J.K. Randle, Alara of Ilara, Lagos, Oba Olufolarin Ogunsanwo, the Oore of Otun Ekiti, Oba Adekunle Adeagbo, the Olofin of Iseri-Awori, Oba Suleman Bangbade, the Oloworo of Oworonsoki, Oba Babatunde Saliu, the Salu of Edunabon, Oba Adesoji Kehinde, the Ace Comedian cum real estate investor Alibaba, veteran Nollywood actors Fred Amata and Funso Adeolu, Ayo Adesanya were among several  traditional rulers and dignitaries at the event.

The prominent citadel of Salwa Palace, made from mudbricks three centuries ago in the historic Turaif district, the first capital of the Saudi dynasty, was illuminated on December 4 with a spectacular light display in celebration of its opening to the public.

Just a few steps away, also in the historic Diriyah area, the Bujairi Terrace, a slew of high-end dining experiences ready to welcome over 3,000 people within an area of 15,000 square meters and featuring both Saudi and top international restaurants, opened to its first visitors.

It was a historic day for Saudi Arabia as the opening of both sites marked the first phase of completion for the $50 billion project of the Diriyah Gate Development Authority.

To mark the special day, traditional performers in national dress put on a show and distributed gifts to visitors.

Stunning illuminated walkways lead the way through new buildings reflective of traditional mudbrick Arabian homes and lampposts decorated in the Najdi style typical to central Arabia. Palm trees line the Wadi Hanifa that separates the Bujairi Terrace from Turaif.

Visitors can walk over a bridge after dining at the Bujairi Terrace to visit the recently restored ruins of the original seat of the Al-Saud dynasty, taking the same steps as Saudi rulers did centuries ago.

What distinguishes the Bujairi Terrace from other high-end dining areas in the Gulf is the balanced offering of Saudi cuisine alongside top-notch international Michelin-star brands.

Maiz and Takya, two Saudi restaurants, offer a mix of traditional and contemporary cuisine within sleek settings decorated with a modern take on native Najdi patterns and architecture.

Six million trees and plants have also been incorporated into the area so that visitors can walk for hours, enjoying the natural and historic surroundings before and after dining at world-class restaurants.

Upon the completion of the DGDA project, scheduled to be finished in 2030, Diriyah will be home to cultural, educational and entertainment shows, along with retail and hospitality facilities.

The latter will include 38 hotels, in addition to a series of museums, cultural and academic institutes and retail areas.

The destination is expected to add around SR27 billion ($7.2 billion) to the country’s gross domestic product and create 55,000 jobs, with a focus on upskilling women.

The historic area of Diriyah, known for its Bedouin hospitality and culture, is experiencing a renaissance through a celebration of its past and present.

The European Union has agreed a new law that would ban the import of products linked to deforestation.

Household goods such as coffee, chocolate, and some furniture will have to pass strict checks to ensure forests weren’t damaged to create them.

Environmental group Greenpeace called it a breakthrough, but some countries said the rules would hurt international trade.

The EU said the rules would cut carbon emissions worldwide.

The rules cover palm oil, cattle, soy, coffee, cocoa, timber and rubber that is imported into the EU.

They also cover anything derived from these products, such as beef, the European Commission said in a press release.

Pascal Canfin, the chairman of the European Parliament’s environment committee, said: “It’s the coffee we have for breakfast, the chocolate we eat, the coal in our barbecues, the paper in our books.”

Companies selling their products into the EU will have to prove their goods are not linked to deforestation, or face fines of up to four percent of their annual EU turnover.

An impact assessment from the European Commission estimated that the new law would protect at least 71,920 hectares (278 sq miles) of forest annually – around 100,000 football pitches.

It would also reduce annual global carbon emissions by 31.9 million metric tons per year, the commission said – roughly the same as the carbon emissions of Denmark in 2021, according to World Bank data.

The European Council – where member states agree policy – and the European Parliament are yet to ratify the agreement.

The law is enforceable 20 days after it is formally accepted, which is expected to happen next year, the European Commission told the BBC.

Once it becomes law, operators and traders will have 18 months to adhere to the new regulations.

Smaller companies will have 24 months to adapt.

Companies will have to specifically prove their goods were not produced on land that was deforested after December 2020.

The law change would have little or no impact on prices to consumers, a European Commission spokesperson said.

Environmental group Greenpeace said the agreement was a “major breakthrough for forests”.

The EU said it would work with outside countries to improve their regulation capacity, but some of the nations it trades with – including Brazil and Indonesia – said the rules would be burdensome and costly.

Last week, Canada’s ambassador to the EU said the rules would hurt trade between Canada and the EU.

The ambassador, Ailish Campbell, also defended Canada’s record on deforestation. Logging industry groups have said their operations meet high standards of sustainability, in part by ensuring that trees are planted in place of those that are harvested on public land, which is required by law.

Guguan is an uninhabited island which is part of the Commonwealth of the Northern Mariana Islands, which is actually an insular area in the Pacific Ocean and commonwealth of the United States.

As the island has a roughly circular shape, it is with an estimated area of about 4 square km (2 square mi), and there are two stratovolcanoes which are the highest points of the island.

The higher one is located to the southern side of Guguan with a height of 287 meters (942 feet) above the sea, while the smaller one is at about 263 meters (863 feet) above the sea, and it is located to the opposite, northern side of the island.

Even though it appears that there have been a volcanic activity, the only recorded eruption was in 1883 from the northern peak, which produced pyroclastic flows as well as lava flows that reached the coast.

The most interesting fact is that the island was never colonized, even though it was discovered in 1668 by the Spanish missionary Diego Luis de Sanvitores who charted it as San Felipe, however, there are some reports which suggest that it was previously visited in 1522 by the Spanish sailor Gonzalo de Vigo, deserter from the Magellan expedition in 1521, who was the first European castaway in the history of the Pacific.

Considered to be part of the vast Spanish Empire, it was sold to the German Empire in 1899, which later was under control of the Empire of Japan, and to end up after Second World War under control by the United States.

In 1980s, it was meant to be made as a nature preserve by the Commonwealth of the Northern Mariana Islands, nonetheless, it is completely free from feral species such as goats, pigs and cats.

With some visitors from time to time who are disturbing the rare Micronesia megapode, Guguan is a distinct place on the planet which so far has not been touched by the globalization, with hope that it will stay that way.