ARAHA holds summit to bridge knowledge gaps, address misinformation in real estate
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Isuan Agro Estate Ltd (ARAHA) hosted its Land Bankers Summit in Abuja, urging more government infrastructure in rural areas and better education for would-be property investors.
A real estate expert and Managing Director of Isuan Agro Estate Ltd (ARAHA), Ohimai Abraham, has urged the government to provide infrastructure in rural areas in order to make the value of properties appreciate.
He spoke on the sidelines of the Land Bankers Summit, themed 'Land Banking - The Smart and Sustainable Path to Generational Wealth', organised by his company in Abuja. He said infrastructure is the key factor that makes property appreciate, develop faster and appreciate better, and asked the government to provide it for emerging corridors focused on land banking.
Abraham said the summit was organised to bridge knowledge gaps and address misinformation in the real estate industry, noting that many Nigerians are not educated when it comes to real estate and real estate investments, and that distrust and fear surround the space.
He advised low income earners and the middle class to change their mindset about owning properties, arguing that one does not need millions of naira to become a property owner. He cited areas like Karshi, where land can be bought with N200,000 to N500,000, noting that even prime locations like Guzape were once affordable.
Also speaking, Barrister Happy Byanyiko tasked Nigerians on due diligence before acquiring properties, advising them to check with NAGIS in Nasarawa or AGIS in Abuja to confirm whether land is registered and free from encumbrance.