By Kayode Olopade
The Lagos State Government has reiterated her seriousness about protecting Nigerians' investments in the real estate sector.
The Special Adviser to the Governor on Housing, Barr. Barakat Odunuga-Bakare, emphasized the need for strict regulations and sanctions to safeguard investments.
This comes ahead of the 5th Lagos Real Estate Marketplace Conference, holding on December 10-11, 2024, at Eko Hotel and Suites, Victoria Island, Lagos. The conference theme, "Reimagining the Lagos Landscape: Ensuring Sustainable Real Estate Development Practices," reflects the state's commitment to sustainable development.
Barr. Odunuga-Bakare revealed that the office has received over 3,000 petitions from aggrieved members of the public, with over #500m recovered from fraudulent developers. Notably, Alhaji Abdulahi Ayobami Oseni was sentenced to 10 years in prison for duping 133 victims in Ajao Estate.
To ensure safety and transparency, the state government has blacklisted real estate agents found guilty of violating rules, after verifying their registration with the Corporate Affairs Commission. Residents are urged to verify information on the LASRERA website before investing in real estate.
The 5th Lagos Real Estate Marketplace Conference will focus on innovation, sustainability, regulatory reforms, and investment opportunities, with over 30 exhibitors expected to attend.
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