•S A To Gov. SANWO-OLU On Housing
It is with great pleasure that I welcome you to this Stakeholders Forum with the theme: “Redefining Opportunities in Real Estate: Regulations and Expectations’’, being organised by LASRERA.
Our gathering here today is specifically designed for you distinguished Estate Agents in Lagos State. We want to use this forum to seek ways of exploring the diverse opportunities inherent for you in the Real Estate industry, while also exposing you to the industry regulations and expectations.
The overall intention for this is for all participants to learn new and relevant skills that would be useful in upscaling your businesses and develop the industry as a whole. I believe we all know that the growth of any state or nations’ economy can be redefined by the success of the Real Estate industry in line with global best practices. This event is organised to ensure that the policies of the Lagos State Government for the Real Estate industry gains the confidence of Real Estate Agents, with a view to curb fraudulent practices and deface negative and potential risks in the industry.
As a government that cares about this profession, we will continue to ensure effective and conclusive environment service delivery for Real Estate business and investments to thrive in Lagos State.
Let me inform this gathering that the continuous rise in population, migration and demand for properties from citizens home and abroad will lead to an increase in the demand for accommodation, property investors and homeownership in Lagos State hence the need for all practitioners in this sector to rise up to this challenge and be ready to leverage on this fact.
The Real Estate industry has visible and invisible untapped opportunities that can positively impact on the businesses of Estate Agents and other investors in the industry. To achieve this, it would require the collaboration of all industry stakeholders including the real estate professionals, practitioners and property developers to boost the Sector in the State.
To unleash the endless opportunities that the industry has to offer, Regulations must be put in place to enact and protect the interest of investors and the general public. The regulations we will discuss here today will lead to enforcement by the State Government.
As Real Estate Stakeholders, we must be credible, accessible to provide accurate information on properties sales and rentage, with ownership records when dealing with prospects in the industry.
In view of this, it is necessary for the Lagos State Government through the Lagos State Real Estate Regulatory Authority- LASRERA, to act as a registrant for Stakeholders in the Real Estate industry across the State. As the Regulator for the State Government, LASRERA has mandates to bring sanity to the Sector in order to strengthen these competitive investments in buying or selling of properties or in seeking accommodations by individuals or investors.
With these regulations, I can assure you that there will be transparency in the Real Estate industry. All hands must therefore be on deck to tackle all the challenges in the industry, alleviate the fears of the public and investors so that we can all benefit from these endless opportunities in this industry and emerge stronger. The State Government is ready to curb fraudulent activities in this industry with the right laws and regulations. This is in line with this present administration of Governor Babajide Sanwo-Olu’s T.H.E.M.E.S Agenda of making Lagos State a 21st Century Economy. Countries of the World have taken the Real Estate industry as a serious business and have contributed immensely to the Gross Domestic Product of the economies and we cannot be left behind.
In Nigeria, Real Estate remains one of the major investments that attract local and foreign investors. For us in Lagos State, we will not relent in tapping fully into these numerous opportunities. I urge you all to play your part to grow and develop the Real Estate industry in Lagos State. I believe our deliberation would yield impactful expectations in the Real Estate industry.
Mrs Toke Benson-Awoyinka
Special Adviser (MOH)
August 3rd, 2021.
WELCOME ADDRESS DELIVERED BY THE SPECIAL ADVISER TO LAGOS STATE GOVERNOR ON HOUSING, MRS TOKE BENSON-AWOYINKA, DURING THE FIRST STAKEHOLDERS FORUM WITH ESTATE AGENTS IN LAGOS STATE, HELD AT ORIENTAL HOTEL, VICTORIA ISLAND, LAGOS ON TUESDAY, AUGUST 3RD, 2021.