The second edition of the Lagos Real Estate Market Place Conference and Exhibition opened on Tuesday, December 7, 2021, at the popular Eko Hotel and Suites and as expected, the turnout was massive.
There is no gainsaying that the Real Estate Market Place Conference and Exhibition is a baby of the Lagos State Real Estate Regulatory Authority –LASRERA; an agency which Mrs Toke Benson-Awoyinka, the Special Adviser to Governor Sanwo-Olu on Housing heads.
Being the convener of the conference, Mrs Awoyinka was required to take an address and below are excerpts from her speech, read on.
I am pleased to welcome Mr Governor, Mr Babajide Olusola Sanwo-Olu to all State Government Functionaries, Dignitaries, invited Guests and Players in the Real Estate Industry to the Second Real Estate Marketplace Conference and Exhibitions, being an initiative of Lagos State Real Estate Regulatory Authority –LASRERA.
This edition of this Conference provides an avenue to unearth the various opportunities that abound in the Lagos State Real Estate Market with the theme for discussion:
“LAGOS: 21st Century Real Estate Investment Hub.”
Real Estate remains a very strong and powerful investment all over the World. Apart from the role it plays in employment generation and the creation of sustainable jobs, the Real Estate Market has the highest potential of growing the economy of any State/ Nation.
As viable as this sector is economical, having the right information and understanding the operational environment by investors or investees is very key and this can be achieved through coaching and professional conferences like this.
There is a need for us all to know the Government’s policies put in place and how the knowledge of all these policies can assist us in making informed decisions in respect of our investments.
As a Government, we have realized this fact and as such, have been making business-friendly policies that can assist would-be investors/investees operate in a conducive business environment.
We all know the havoc and the damages caused by the outbreak of the Coronavirus pandemic which brought drastic changes to the financial sector of the world, despite this, the Real Estate Sector remained the preferred investment globally in spite of this threat.
As part of our efforts at LASRERA to make this sector more vibrant and ensure that practitioners operate within the ambit of the Law, we have registered over 100 Individuals/ Organisations that approached the Agency to regularize their operations with us.
The State Government through the Agency has resolved several reported cases of fraudulent practices brought to the attention of the Agency in a very professional manner.
As regulators of Real Estate, we advise investors/ investees to make LASRERA their First Point of contact before investing in any Property in different parts of Lagos State. This process of verification has been simplified through the Agency’s online platform such that all necessary information can be obtained by logging on to lasrera.lagosstate.gov.ng to know the accreditation status of any Practitioner / Organisation as the case may be.
Let me add that Lagos State remains a Central location and has good potential for residential and commercial investments with an existing great network for Real Estate investors/ investees which create wealth and also attract benefits to both parties.
It is worthy of mention that the State Government through the Ministry of Housing, Lagos State Development and Property Corporation (LSDPC), LagosHoms and Stakeholders in Real Estate Industry delivered the following in the last 24Months:
• 492Units at Lateef Jakande Gargens, Igando, Alimosho.
• 120Units at Courtland Villas at Igbokushu, Eti-Osa LSDPC.
• 124Units at Apartments by LAGOSHOMS/LSDPC.
• 252Units at Peridot Homes, Idale Badagry.
• 100Units at Bayview Estate, Ikate- Elegushi.
• 132Units at Iponri, LagosHoms.
• 84Units at Lekki Phase II in Eti-Osa, LAGOSHOMS.
• 360Units at Igbogbo/Baiyeku, Ikorodu, LAGOSHOMS.
• 32Units at Sunnyville Apartments, Ogba.
These and more are some of the efforts of the government individually and in partnership with the private sector in reducing the housing deficit in Lagos. Also ready for delivery before the end of the year are
• 660Units at Agbowa, Ikorodu.
• 325Units at Ibeshe, LagosHoms.
• 626 Units at Abraham Adesanya Housing Estate, Eti-Osa LGA.
Joint Venture Schemes with LSDPC are:
• 172Units Iconic Towers Sinari Daranijo, Victoria Island.
• 38Units Channel Point Apartments at Sinari Daranijo, Victoria Island.
• 48Units The Avenue Ogudu Scheme II
• 138Units Davilla Court LSDPC Ogudu Scheme II
• 72Units Ivy Suites, Ogudu GRA
• 202Units IIupeju Gardens at Esther Osiyemi Street, Iiupeju.
• 10Units Sura Mogaji Terrace, IIupeju.
• 144Units Keffi Suites, Keffi, Ikoyi.
• 20Units Love Garden Apartments, Allen Way, Ikeja.
As Government, we will continue to create enabling environments for the Sector to thrive while also expanding other initiatives aimed at ensuring that new homes are built /constructed, delivered and people have quality, sustainable places to live.
Owning a home is not just a fundamental human right; its impact is unimaginable as it helps in strengthening economic development, yielding return on investments and delivering Sustainable Development Goals in Nation Building.
The infrastructural development of the State makes it the right city for asset investment with increasing population growth and with huge tourism potentials and numerous destinations.
The collaboration between the State Government and those in Housing Sector will drive macro-economic growth, deepen financial sector collaboration, mitigate climate change and create jobs opportunities for the residents, as well, build up the Real Estate industry’s investments with Infrastructural projects in the environment.
With increased urbanisation in Cities like Lagos, Port Harcourt and Federal Capital-Abuja, there is unprecedented demand for new homes, so the PPP initiative can reduce the housing deficit in the country.
The State Government is desirous of Housing Investment Partnership that will drive the Real Estate industry in line with the 21st Century’s T.H.E.M.E.S Agenda of the State.
I enjoin practitioners and professionals to join hands with the State Government in its drive to provide World-Class Real Estate Investment Solutions, Construction Management Services and Sustainable Housing delivery with international Standard that will sustain Lagos as the Real Estate Investment Hub of the 21st Century in Nigeria as it has always been.
I use this medium to appreciate all Stakeholders and Exhibitors in the Real Estate Business Markets for their support to the Lagos State Government to minimize if not eliminate the rate of fraudulent practices and also bridge the housing deficit with Private-Public partnerships in the Real Estate Sector in the State.
We know that Lagos State has always been the hub of International Business to the World, let us improve on it.