The Lagos State Real Estate Regulatory Authority (LASRERA) has called for greater collaboration with stakeholders to check fraud and malpractices in the real estate sector.
The Special Adviser to the Governor on Housing, Ms Barakat Odunuga-Bakare, who spoke ahead of its 5th Lagos Real Estate Market Place Conference and Exhibitions, which Governor Babajide Sanwo-Olu will host, emphasised that the government created the agency to register, monitor and sanitise real estate sector in Lagos.
She restated the state’s commitment to creating an enabling environment, ensuring transparency and enforcing standards in the real estate sector, adding that stronger regulatory frameworks are needed to safeguard the interests of both the public and private sector stakeholders.
“Lagos is one of the fastest-growing cities in the world and a major economic hub in Africa. The real estate sector plays a significant role in driving this growth, creating jobs, attracting investments, and contributing to the development of the state’s infrastructure. Under the governor’s leadership, Lagos has become a beacon of progress, innovation, and sustainable development in the real estate sector.
“We continue to strengthen LASRERA, which is responsible for registering and regulating real estate practitioners in Lagos. LASRERA ensures that only qualified professionals are involved in real estate transactions by enforcing standards, monitoring compliance, and encouraging transparency. This is essential in restoring confidence in the sector and ensuring that we do not repeat past mistakes,” Odunuga-Bakare said.
On the conference, themed, ‘Reimagining the Lagos Landscape: Ensuring Sustainable Real Estate Practices,’ she emphasised the importance of sustainable real estate practices amid urban growth challenges. “The theme reflects the need to promote safety, and environmental responsibility and enhance transparency and professionalism in the industry through stronger regulations.
“We believe that through collaboration, knowledge-sharing, and a collective commitment to change; we can overcome the challenges facing the real estate sector. The conference will also serve as an opportunity for industry professionals to explore new business opportunities, learn from each other’s experiences, and contribute to shaping the future of real estate in Lagos,” she added.
Source- Guardian.ng
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