feel free to call 09056000005

Property firm woos investors with Dominican Republic residency

A Nigerian real estate consultancy firm, Overland Properties Limited, has announced plans to provide real estate investment and residency for Nigerians interested in moving to the Dominican Republic.

Managing Director, Overland Properties, Adebiyi Modile, who spoke at a meeting with stakeholders in Lagos, said the firm has entered into partnership with a Dominican-based firm, Punta Cana DineCaribe Realty (Punta Cana DC) to assist Nigerians settle in that country.

On the benefits of investing in the Caribean country, Modile said: “If you buy a four-bedroom duplex in Lekki for instance, it will cost you about N250 million and the return on investment for a rental is N7 million annually. That means you’re making less than $10,000 for an investment of N250 million.

“With N250 million, you can buy almost five properties in Punta Cana, and the return on each property there is $10,000 annually after tax. Where would you rather invest in?

Principal Partner of Aftermath Solicitors, Mr. Tunde Koya, said: “These opportunities offer freehold titles with secure and guaranteed returns of investment. Moreso, because it offers great tourism potentials, this offers a huge attraction for investors from across the globe.

“The Caribbean nation offers good tax incentives not only as a real estate investment portfolio but also for potential corporate bodies, who wish to give their business a global flavour. The Dominican Republic is a great place to build credible wealth.

A representative of Punta Cana DC, Mr. Liemier Laba, highlighted the benefits of investing in the country.

“The country offers quality medical facilities, great nightlife, maximum security, beautiful beaches, sunny weather and lower interest rates.

“If you buy a property in the Dominican Republic, you own it forever. The annual property tax is one per cent.

“If you buy a property, in 15 to 20 days you will have a title of ownership of the property,” Laba said. A property developer in the Dominican Republic, Mr. Isaac Funis, said his firm is currently involved in about 80 projects in the country.

He said: “Nigerians traditionally like to invest in U.S., UK and Dubai. We want to present to them something a little bit different and new.

“The Caribbean offers a lot more than other places. The investment opportunity at the moment is the most attractive in the world. That’s the way I see it.

“Dominican Republic is the fastest-growing economy in Latin America at the moment. The growth rate is over seven per cent yearly.

“Knowing the number of Nigerians interesting in investing in real estate, we want to present them with this opportunity.”

On his part, Dominican realtor and tour guide, Liemier Laba, said that the Dominican government was welcoming Nigerians and other foreigners with open arms. According to him, the country has lots of incentives that will appeal to Nigerians.

“The government also provides a 15-year tax-free rebate for certain investments and ranks well on ease of doing business. This is in addition to mortgages provided by banks at low rates for foreigners, repayable within 10-20 years,” he said.

SOURCE: Guardian.ng

 

Similar Topics

  Dr. Iziaq Salako, the Minister of State for the Environment, announced that Nigeria lost...

3 days ago Read More

Leading figures in the real estate industry have expressed concerns about unethical practices by...

4 days ago Read More

Nigeria has experienced approximately 604 building collapses between 1974 and May 30, 2024,...

4 days ago Read More

In the past twelve months, Governor Peter Mbah of Enugu State, South East Nigeria, has shown a...

10 days ago Read More

Land buyers at the Oko-Orisan waterfront residential scheme, developed by the Lagos State...

10 days ago Read More

A development that is apparently strange in this clime is brewing as construction workers in...

17 days ago Read More

The company’s Chief Executive Officer, Mr Odunayo Ojo, highlighted UPDC’s unwavering...

19 days ago Read More

The real estate sector has undergone significant regulatory changes impacting housing market...

20 days ago Read More

  The Nigerian Institute of Quantity Surveyors (NIQS) has announced plans to establish a...

24 days ago Read More

  Nyesom Wike, the Minister of the Federal Capital Territory (FCTA), announced that the FCT...

24 days ago Read More

Akintoye Adeoye, the newly elected President of the Real Estate Developers’ Association of...

26 days ago Read More

  The Ministry of Housing and Urban Development announced that 8,925 individuals have...

26 days ago Read More

The Building Collapse Prevention Guild (BCPG) has urged the Lagos State Government to investigate...

a month ago Read More

The Housing Development Advocacy Network (HDAN) has urged the Federal Government to declare a state...

a month ago Read More

The Minister of Housing and Urban Development, Ahmed Dangiwa, has urged for a comprehensive review...

a month ago Read More

Ugochukwu Nwora, the Head of the Directorate of Valuation Standards at the Financial Reporting...

a month ago Read More

The Lagos State Government has issued a stern warning to individuals and entities operating in the...

a month ago Read More

Dr. Oluyinka Olumide, the Lagos State Commissioner for Physical Planning and Urban Development,...

a month ago Read More

The Lagos State Commissioner for Environment, Tokunbo Wahab, revealed that the government had...

a month ago Read More

Femi Adewole, CEO of Cooperative Mortgage Bank Ltd., revealed that out of roughly 340,000 policemen...

a month ago Read More