The Chairman, Nigeria in Diaspora Commission, Abike Dabiri-Erewa, has said the commission is offering prospective property investors the opportunity to invest in the real estate sector.
Dabiri-Erewa disclosed this at a recent stakeholders’ engagement forum organised by a real estate firm, Buyletlive with the theme: “Real Estate Digi-volution.”
She noted that the issues in the Diaspora, which involves 17 million Nigerians abroad and 20 Trillion Dollars in terms of remittances to Nigeria, is more than any foreign direct investment put together, which is about six per cent of our Gross Domestic Product (GDP.)
The Forum featured keynote addresses, panel sessions, open discussions on topics such as funding opportunities for real estate development. The role of technology in real estate, Proptech and galvanizing investments for the Nigeria Diaspora in the Nigerian property market. These prompted very rich conversations and contributions by guest speakers and invited guests.
The Managing Director, Stanbic IBTC, Mr Wole Adeniyi in his address highlighted the financial opportunities for Real Estate and their economic contribution. He informed the stakeholders of the opportunities available for the industry through the lens of the banking sector.
According to him, the Real Estate Industry has 3.5 Trillion Naira available for utilization of home loans.
With the growth of Proptech, guest speakers at the event shared their thoughts on the adoption of technology in the Nigerian real estate market.