Stakeholders canvass virile mortgage system in Africa | The Guardian Nigeria News - Nigeria and World News ⬇️
The experts also emphasised need for increased funding for real estate projects, listing of more Real Estate Investment Trusts for further investment, green building, technology for housing construction and decentralising housing development in city centres.
Specifically, he said in Nigeria, there are no thriving mortgage systems, whereas anywhere in the world, it is the mortgage sector that grows the real estate sector. “The government should create a pool, whereby mortgage banks can access fund and lend to customers. The Federal Mortgage Bank of Nigeria should be revived for efficiency, while the Nigeria Mortgage Refinance Company , should be capitalised with proper structure,” Runsewe said.
The Head, Real Estate Finance-West Africa for Stanbic IBTC, West Africa, Mr. Tola Akinhanmi, enumerated funding options available for real estate finance, which are meant for credible developer with innovative products, financial strength and sustainable assets.
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