Lagos State government has restated its resolve to drive and provide a world class real estate investment solutions and sustainable housing delivery with international standard to the residents of the State.
The Special Adviser to the Lagos State Governor on housing, Mrs Toke Benson- Awoyinka gave this indication at the 2nd Lagos Real Estate Market Place Conference and Exhibitions held in Lagos with the theme “LAGOS: 21st Century Real Estate Investment Hub.”
The Special Adviser mentioned that government would continue to create enabling environments for the sector to thrive while also expanding other initiatives aimed at ensuring that new homes are built, delivered, and people have quality, sustainable places to live. In addition, the government is actively encouraging partnerships with real estate investment companies (such as the Indianapolis real estate investment companies) to further stimulate growth and development in the housing sector.
She emphasized that the government is desirous of Housing Investment Partnership that will drive the real estate industry in line with the state agenda in the sector.
“This edition of this conference provides an avenue to unearth the various opportunities that abound in the Lagos State Real Estate Market.
“Real estate remains a very strong and powerful investment all over the world. Apart from the role it plays in employment generation and creation of sustainable jobs, the Real Estate Market has the highest potential of growing the economy of any nation.
“As viable as this sector is economically, 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” she said.
Government policies
Benson-Awoyinka mentioned that there is need for residents to know the policies put in place and how the knowledge of all these policies can assist them in making informed decisions in respect of the investments.
According to her “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 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 or organisations that approached the agency to regularize their operations with us.”
Agency as intervenor
She added that 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.
She said: “As regulators of real estate, we advise investors and 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 every necessary information can be obtained by logging on to lasrera.lagosstate.gov.ng to know the accreditation status of any practitioner or organisation as the case maybe”.
Housing projects
The Lagos 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:
492 units at Lateef Jakande Gargens, Igando, Alimosho.
120 units at Courtland Villas at Igbokushu, Eti-Osa LSDPC.
124 units at Apartments by LAGOSHOMS/LSDPC.
252 units at Peridot Homes, Idale Badagry.
100 units at Bayview Estate, Ikate- Elegushi.
132 units at Iponri, LagosHoms.
84 units at Lekki Phase II in Eti-Osa, LAGOSHOMS.
360 units at Igbogbo/Baiyeku, Ikorodu, LAGOSHOMS.
32 units at Sunnyville Apartments, Ogba.
According to her these and more are some of the efforts of 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 includes:
660 units at Agbowa, Ikorodu.
325 units at Ibeshe, LagosHoms.
626 units at Abraham Adesanya Housing Estate, Eti-Osa LGA.
Joint Venture Schemes with LSDPC are:
172u nits Iconic Towers Sinari Daranijo, Victoria Island.
38 units Channel Point Apartments at Sinari Daranijo, Victoria Island.
48 units The Avenue Ogudu Scheme II
138 units Davilla Court LSDPC Ogudu Scheme II
72 units Ivy Suites, Ogudu GRA
202 units IIupeju Gardens at Esther Osiyemi Street, Iiupeju.
10 units Sura Mogaji Terrace, IIupeju.
144 units Keffi Suites, Keffi, Ikoyi.
20 units Love Garden Apartments, Allen Way, Ikeja.”
She further stressed that Lagos State remains a central location and good potential for residential and commercial investments with existing great network for real estate investors which create wealth and also attract benefits to both parties.
Benson-Awoyinka also emphasized on collaboration between the State Government and those in the housing sector which according to her would drive macro-economic growth, deepen financial sector collaboration, mitigate climate change and create jobs opportunities for the residents.
Emmanuel Ukoh
