Governor Babajide Sanwo-Olu of Lagos State has challenged those in the built sector to collaborate with government to raise a crop of purpose-built artisans to further drive development in the sector.
He made the call at the opening of the Real Estate Market Place Conference and Exhibitions in Victoria Island.
The two day conference, organized by the Lagos State Real Estate Regulatory Authority, LASRERA, has as its theme: “Lagos: 21st Century Real Estate Investment Hub”.
Governor Sanwo-Olu who told participants that some of the resolutions of the first edition of the conference are already being implemented, said government alone cannot achieve housing for all appealed to developers to engage in more public private partnership projects to enable a larger percentage of residents to become home owners by the year 2030.
Acknowledging challenges in the sector, including finance and high interest rates on mortgages, Governor Sanwo-Olu urged financial experts to think out of the box to float a single digit mortgage bond.
He highlighted his administration’s efforts to curb sharp practices in the sector and advised practitioners to play their part in reducing the burden of unemployment and building a truly resilient Lagos
“We should not just build properties, let’s also build skills, let us identify those skills and let us truly really train them, the potential is enormous, remain resolute, remain sincere, because sincerity is what will give you credibility and credibility will give you that spontaneous finance and once you are on that path, you’ll see a partner in Lagos State and together we’ll develop this sector to an enviable level.
The ultimate goal of my administration is to make the real estate sector attractive to investors and provide decent and affordable shelter on a sustainable basis for all Lagosians. The reason for this annual Conference and Exhibition is to facilitate the process of attaining this objective by identifying and removing all the obstacles through pragmatic actions and innovative ideas”. The Governor said.
Earlier, the Special Adviser to the Governor on Housing, Mrs Toke Benson-Awoyinka noted that despite the challenges of COVID-19, the real estate sector has remained vibrant, appealed to stakeholders to join hands with the State government in its drive to provide World-Class Real Estate Investment Solutions, Construction Management Services and Sustainable Housing.
She said “As Government, we will continue to create enabling environments for the Sector to thrive while also expanding other initiatives aimed at ensuring that new homes are built /constructed, delivered and people have quality, sustainable places to live.
Owning a home is not just a fundamental human right; its impact is unimaginable as it helps in strengthening economic development, yield return on investments and deliver Sustainable Development Goals in Nation Building”
Participants in the two-day conference are expected to come up with resolutions that would further ensure robust development in the real estate sector in Lagos State.