Home Business Lagos Operating Permit’ll Boost Diaspora Confidence in Real Estate Investment, Says Sanwo-Olu’s...

Lagos Operating Permit’ll Boost Diaspora Confidence in Real Estate Investment, Says Sanwo-Olu’s Special Adviser


By Adeola Ogunrinde

The Special Adviser to Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka, has affirmed confidence in the operating permit being issued in Lagos for practitioners in the Real Estate Sector, saying the permit issuance initiative will not only boost the Real Estate Investment for practitioners but will also encourage diaspora’s confidence in the sector.

The Special Adviser expressed this view on Wednesday during an interview session with Real Estate Developers Association of Nigeria (REDAN) Southwest Media Incorporation at Alausa.

She explained that LASRERA, an Agency under the State’s Ministry of Housing was established to regulate Real Estate business transactions among Real Estate Practitioners, Property Developers and Facilitaty Managers and also checkmate all forms of fraudulent activities in the Real Estate sector.

Benson-Awoyinka said that the amended Bill of LASRERA establishing law that would soon be passed as Law by Lagos State House of Assembly will further sanitize Real Estate practices in Lagos State and project the State as a destination of choice for investment in Real Estate.

She averred that the State’s Real Estate sector has the potentials of being a major source of investment opportunities for investors and add to revenue for the State Government if the issue of public confidence in the sector is restored.

She stated that the proposed Bill of 2020 currently before the State’s House of Assembly would protect investors, buyers and sellers and will also promote ease of doing business for the practitioners when it is finally passed and signed by Governor Babajide Sanwo -Olu.

The Special Adviser said that the registration of the practitioners by the Agency is an umbrella that is needed  by all persons in the Real Estate sector and the compilation of data on Real Estate developments would aid the State Government in planning around complimentary infrastructure within the State.

‘’With the Permit license that LASRERA is giving to Real Estate Practitioners/ Property Developers, individuals seeking the services of the sector can link or log on to www.lasrera.lagosstate.gov.ng  to transact business with registered practitioners in the State.” Benson- Awoyinka stated

She urged residents who at one time or the other been duped by fake Real Estate Practitioners/Property Developers to report to the Agency’s office.

According to her, the Agency is poised to ensure satisfaction by those seeking for accommodation in the State through mediation and amicable settlement without necessary approaching the court for redress.





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