Lagos State Governor, Babajide Sanwo-Olu has charged players in the state’s real estate industry to uphold ethical practices as they work to complement the government’s efforts in solving the housing deficit in the state.
The governor said this through his deputy, Dr. Kadiri Obafemi Hamzat on Tuesday, December 6th, 2022 at the commencement of this year’s Lagos Real Estate Market Place Conference and Exhibitions.
The 2-days programme was the 3rd of its kind. It was held at the Eko Hotel & Suites, Victoria Island, Lagos.
Having listened to panel discussions initially, held during the programme where panelists spoke extensively on how to avoid potential risks in the industry, the deputy governor gave a remarkable speech in which he addressed the matters discussed.
During his speech, Hamzat emphasized the essence of the programme which he said was to create a platform for the state government to interact with stakeholders as well network to address developmental issues affecting the real estate industry in Lagos State.
He went further to state that the commitment of the government through the Lagos State Real Estate Regulatory Authority (LASRERA) and other related agencies to ensure a well sanitized real estate sector.
“ The emerging trends and practices in this sector in recent times calls for strict vigilance on the part of all genuine practitioners and government in view of reported cases of dubious acts by some real estate agents who are taking undue advantage of the market which has become one of the fastest growing in Nigeria and Lagos State in particular as a result of increase in population and real estate development.
“As a government, we owe it a duty to safeguard the investment of people who may be unaware of some unprofessional practices in the market.The need to restore public confidence in this sector led in the first instance to the establishment of the
Lagos State Real Estate Regulatory Authority (LASRERA). In order to protect citizens and investors from the potential risks of the emerging markets in our society. The agency has therefore designed the minimum operational standards and guidelines for practitioners to abide with. The guidelines provide comprehensive check lists for citizens to correctly identify the competitive list of all registered individuals and organizations.This will allow our citizens to avoid doing business with unregistered real estate practitioners in the system.
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