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Sanwo-Olu tasks real estate players on boosting capacity of indigenous artisans

Governor Babajide Sanwo-Olu at the middle during the opening of the second Lagos Real Estate marketplace conference and exhibitions. Photo: Omolara Omosanya

Lagos State Governor, Babajide Sanwo-Olu has challenged those in the built sector to collaborate with the 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-Oluwho 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.

He appealed to developers to engage in more public-private partnership projects to enable a larger percentage of residents to become homeowners 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.” He said.

Lagos State Governor, Mr Babajide Sanwo-Olu; his Special Adviser on Housing, Mrs Toke Benson-Awoyinka; Commissioner for Housing, Mr Moruf Akinderu Fatai and Commissioner for Finance, Dr Rabiu Olowo, during the opening of the second Lagos Real Estate marketplace conference and exhibitions. Photo: Omolara Omosanya

According to him, 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.

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.

She 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.

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.

Reporting by Omolara Omosanya: editing by Abdullahi Lamino