Friday, August 18, 2017 10:54 AM / Quant Capital
The real estate investment seminar series organized by Quant Capital Limited, a private Equity firm, held yesterday at The Renaissance (Marriott) in Ikeja, Lagos, the first of a planned four-zone stakeholder engagement in the Real Estate and Financial sector of the economy.
Lagos State Commissioner of Housing, Prince Gbolahan Wasiu Lawal commended the management of Quant Capital for the laudable initiative which he believes will help to attract the right attention and engender adoption of REITS as a viable alternative investment vehicle. In his words ‘ This wouldn’t have been coming up at a better time as the Federal Ministry of Trade and Investment a few days ago just announced that REITs will enjoy a pioneer status incentive. This definitely shows that REITs is the future and the government in place is a discerning one. “.
Lagos State, according to the commissioner, has a housing deficit of about three million and as such the state and the country as a whole need to pay a lot more attention to housing and real estate in general. ‘Lagos State is committed to ensuring that enabling environment is provided through physical infrastructure examples of which are the red and blue rail lines which the state is currently working on; it has also become very important that construction financing is made cheap to make housing available and more affordable to more Nigerians’, Lawal stated.
According to Mr. Tunde Lemo, former deputy governor of Central Bank who was also one of the speakers at the seminar, REITs is a vehicle that helps to solve the problem of liquidity in the Real estate sector. He also pointed out that REITs apart from being able to help revitalize the stock market will also boost development in the Micro Small Medium Enterprises (MSME) sector in the areas of construction, building materials, interior decoration, furniture, carpentry, plumbing and other related fields.
The Managing Director of Quant Capital, Mr. Wale Gomez stated that ‘we have decided to organize these seminars in different locations across the country because we understand the robust and enduring investment window that REITs provides as well as the potential growth that REITs can birth in an economy; we want each and every Nigerian to understand REITs and tap into the benefit it provides’.
Other speakers at the seminar included Ituah Ighodalo, Managing Partner of S.I.A.O Partners, Mr. Segun Ajalekoko, President of the Commonwealth Association of Surveying and Land Economy and Mr. Daniel Aderemi, former company Secretary and Head of Legal, Union Homes Savings & Loan.
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