All too often, Nigerians living outside the country who desire to own a property in the country have had to rely on family members and friends only to realise later that the funds have been misappropriated or the property acquired was of inferior quality.
As a measure to address this situation, TAG Nigeria, a real estate consultancy based in Lagos, is providing a platform for credible property development firms in Nigeria to exhibit their latest developments to Nigerians abroad who want to invest in the property market in Nigeria.
At a breakfast meeting on March 29, the company unveiled its plans for their property expo which will be held in London and Houston in June this year, to prospective developers.
“This situation has ruined relationship among many family members so we think that it is better to deal with a credible, independent party, who will certify that the property is top quality, ensure the documentation is intact and it is in a secured environment,” says Francis Efoechoku, chairman of TAG Nigeria.
Efoechoku quoting sources who compile Diaspora investment into Nigeria and said it amounted to $35bn in 2016, and stressed that property developers deserve a piece of the pie which is why T.A.G Nigeria by means of the expo, will ensure the sector is not left out.
Michael Ejoh, chief marketing officer, TAG Nigeria in his presentation at the breakfast meeting said that the company has secured 720 registered participants at the event and is now offering financial institutions, insurance firms and others to partner with them and leverage on the opportunities.
Delegates could register as property developers who for a fee of $1,000 can advertise their properties in the company’s catalogue which will be given to everyone who attends the fair in Houston, US on June 17 and in London, UK on June 24.
Meanwhile developers from Nigeria who are interested in securing an exhibition stand at the events would pay a fee of $3,000 which will give them a stand in the two cities, and also secure an advertising space in the catalogue.
“The theme of the exhibition is ‘meet, invest and secure’ so we are looking at credible developers to come in and exhibit at the event,” says Ejoh while responding to questions from journalists.
Ejoh further said, “The whole idea is that we are bridging the gap between stakeholders in the real estate industry in Nigeria and those in the Diaspora. What we do, is that we give them a platform to meet and solidify on their transaction.
“What makes us different is that at the end of event, we give everybody a database of prospective buyers. You are not just coming in for the exhibition, you are getting a shore database available to use in selling your properties.
in Lagos at a breakfast meeting on March 29 unveiled its plans for property expo in London and Houston in June this year, to prospective developers stating that their solution will restore confidence in property acquisition by Nigerians abroad.
ISAAC ANYAOGU
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