Stakeholders seek diasporans’ support for real estate

Experts in real estate business have called for concerted efforts aimed at attracting Nigerians in the Diaspora to support the industry and other investments in the country.

The experts, who spoke at Wealth Expo in New Jersey, urged Nigerians in the diaspora to an active part in the sector. Managing Director of Modaville Realties Plus, Mopelola Kola-Lawal, said the expo is to adequately inform and educate citizens who may not know the building industry.

According to top her, it has become necessary to restore confidence and build a positive image of the estate market, “We traverse the USA severally and burdened with the sad tales of how people lost a huge sum of money trying to invest in building estates in Nigeria. We have come out to rebrand the industry.”

Also, the Principal Partner, Estatelinks Limited, Mr. Gbenga Olaniyan argued extensively that they want to take advantage of 17 to 22 million housing deficit to invest heavily in the real estate market. He equally added that in spite of devaluation of Naira, developing the industry still remains profitable with practical examples, stressing that they need adequate information and due diligence to minimise the risks.

Contributing, the Managing Director of Pennek, Mr. Kennedy Nnadi said they are working extensively to see how to curb Omo-onile issues, and how to encourage those in Diaspora to access mortgage facility to build.

On his part, Mr. Dipo Adesina of Agro Angels maintained that they have created a technology platform to help Nigerians staying abroad and foreigners alike, to invest in the agricultural sector of the economy. Another speaker, Mr. Chiko Abengowe of Perfect Office Solutions, encouraged participants to cultivate a lifestyle of starting early, citing public projects like Great wall of Lagos, $70 million Oshodi Transport Interchange, the Dangote refinery, etc.

Also, Tayo Odunsi of Northcourt, Chudi Kalu of Middlechase and Dr. Kennedy Okonkwo of Nedcomoaks, reflected on the market and professionals, saying that estate developers are going the extra mile to re-shape the future of the industry.Others, who showcased investment opportunities at the Expo include, Estatelinks Limited, Nedcomoaks (Victoria Crest Homes Limited), Pennek Nigeria, MixtaAfrica, Oak homes, and Middlechase Limited.

source: Cornelius Essen