Women have been encouraged to participate in Nigeria’s real estate sector in order to meet their growing needs and guarantee family’s future.
Leading the call at a seminar themed: “Essentials for Success in Real Estate Investments” and organised for Women by Knightstone Properties Limited in Lagos, former Attorney General/Commissioner for Justice, Cross River State, Mrs. Nella Andem-Rabana urged women not to see themselves as incapable of getting involved in the sector rather she said they could come in through cooperative societies, The Guardian reports.
Abana said by nature, women are adequately equipped to exercise an affective influence hence, they must find a need they could meet in the housing sector just to kick-start as participant, but with the mind set of growing to become a major player and investor in real estate.
He however advised that it is better to start with personal capital, to mitigate risks that could ensure as starters.
Akinlusi regretted that most Banks don’t lend money during recession because of higher rate of default pointing out that they could source for funds through Nigerian Mortgage Re-Financing Company and Federal Mortage Bank in particular, which offers a consistent six per cent interest rate.
While charging women to be open-minded for investable opportunities in real sector in their environment as well as seek partnership to pursue their participation, he expressed optimism that once the underwriting standard scale through, Mortgage banks would be able to increase their lending to those who are interested.
Source: The Guardian