• Friday, May 24, 2024
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Govt set to accredit, regulate real estate developers in Oyo

Developer launches G premium plus for global real estate investment opportunities

The Oyo State Government on Saturday, said it was set to regulate the activities of Real Estate Developers in the state, which is part of the second term agenda for Sustainable Development.

The development is part of efforts to guard against bad eggs among the developers.

Williams Akin Funmilayo, Commissioner for Lands, Housing and Urban Development, who stated this in a meeting with Real Estate Developers held at Secretariat, Ibadan stated that, components of the present administration, is to ensure the urbanisation of the state.

He added that the state was taking the bull by the horns, by registering practitioners, and not letting dubious real estate developers take advantage of its people.

“To protect the interest of innocent investors in the state, we have come up with modalities to accredit all real estate developers in the state, in order to have a robust relationship and curb excess of those that have polluted the industry.

Read also: Investor projects 28% growth in real estate business in 2024

“To this end, they will know where we have designated for housing development not all land in the state are meant to be developed for housing estate, we will provide them with the government land information that is needed to be developed even outside Ibadan.

“They cannot be operating in the state without knowing them as a custodian of land in the state, which will equally protect their interest” adding that the government has been duly informed by several innocent victims, who have been duped by the bad eggs, among the developers.

Akin-Funmilayo stresed that “it is essential for government to know who is who in real estate business in the state, we should work hand in hand to achieve same purpose with Govenor Seyi Makinde’s Agenda.

“With this our people in the state cannot be duped and if they have a land to be develop into an housing estate they will apply to the state government and they will be profile properly. This will give our people in the diaspora an hope to come home and invest in the state.”

In his remarks, one of the Real estate developers, and representative of Ark View Investment Limited, Peter Olutoyese applauded the laudable initiative.

He said, the advantage of free entry has been abused and the industry has been polluted, adding that the regulation will limit the pollution and it will also give credible developers more chance to thrive.