Government collaboration with Real Estate professionals, key to growing the sector

Players in the real estate sector of the economy are seeking government collaboration to drive even development to the rural communities and suburbs.

Players believe that this collaboration and positive effect would also boost investors’ confidence in real estate. In this regard, the players have requested that the government urgently signs a gazette in that regard as a way of growing the sector and bridging the housing deficit in the country.

Babalola Odunuga, CEO, BabsGbollys’Properties Limited made this position known at the launch of the BabsGbollys’ Properties Commercial Advisory Services, a boutique real estate agency with focus on strategic assets positioning held recently in Lagos.

According to Babalola, BabsGbollys team of realtors will handle the new division with a better negotiating skill for creating successful outcomes for investors and tenants on commercial investment, development and brokerage experience. “This new division offers comprehensive commercial services, specializing in investment sales, landlord and tenant leasing representation and strategic asset positioning,” he stated.

Speaking further on the challenges facing the sector, Babalola opined that lack of basic infrastructure is distracting investors away from many communities.

According to him, there is a need for government to urgently enforce the law on anti-land grabbing to discourage the land grabbers popularly called Omo onile from land speculation. “Government needs to create new laws to force Omo onile out and also enforce the law on land grabbing. Government must also engage the community leaders, like the obas, and baales,” he stated.

However, as a move to further promote collaboration between real estate professionals and the government, Babalola called for a regular stakeholder’s meetings that allows for engage, inform and spell out the repercussions of encroaching on government land. “It will be more advisable to enlighten the public on areas that belongs to government, this is necessary because majority of the new estates in the free trade zone area are actually government land which investors bought from land grabbers,” he said.

Angel James