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Business News of Tuesday, 30 March 2021

Source: The Nation

Real Estate author celebrates CEOs endorsement

CEO and founder of fast-rising Real Estate Company—Eximia Realty Co Ltd, Hakeem Ogunniran, has expressed delight after moguls and stakeholders of the real estate industry lauded him for his new book “The laws and practice of Real Estate Investment Trusts (REITs)”.

Ogunniran, who is also the chairman of the Lagos Building Investment Company (LBIC) PLC, expressed his gratitude to everyone who reviewed and endorsed the book.

He said: “ We are gratified by the endorsements of the book by Oscar Onyema, CEO, Nigerian Stock Exchange; Emeka Ngige (SAN), Chairman, Council For Legal Education; Professor Timothy Nubi, Director Centre for Housing, University of Lagos; Ify Umunakwe-Okeke, CEO, Lexon Capital; Adeniji Adele, President, FIABCI International, Eric Guichard, CEO, Homestrings Diaspora Fund, U.K.; and, Kfir Rushin, CEO, APIS, South Africa”.

He said the presentation slated for March 31, 2021 will feature a webinar where five renowned real estate experts from USA, South Africa and Nigeria will speak substantially on “Real Estate: Innovative financing solutions post COVID-19”.

The book launch under the chairmanship of Prince Yemi Adefulu, will attract dignitaries, including President of the Nigerian Bar Association Olu Akpata; Lagos Commissioner of Finance, Dr Rabiu Olowo; Pro-chancellor of the Ekiti State University, Professor Bamitale Omole; Chairman Titan Trust Bank Rev Tunde Lemo and many others.

The book is a comprehensive guide on real estate financing and investment.

It elucidates the legal framework of the real estate investment Trusts and practice-related issues, serving as a useful resource for Lawyers, Professional Advisers, Capital Market Operators, Students and Researchers on Securitisation and asset-backed securities.

CEO of Lexon Capital, Ify Umunakwe-Okeke, in her review, said the book is a “thoroughly insightful book which analyses the concept, strategy and execution required when creating and launching a complex investment vehicle in a developing financial market.

“The author masterfully connects the dots, linking accessibility to investment instruments by all classes of investors, the viability of the instruments and the regulatory and tax requirements for these instruments to the success of the financial markets and the real estate sector,” She added.

Prof. Timothy Gbenga Nubi said: “Book deals with the evolution, challenges and prospects of REITs in Nigeria. It is a guide to Real Estate Developers who are in dire need of appropriate and affordable funds for their projects especially at a time of a global recession when investors are compelled to look inward to fund their project. In his brief chat with the author, the NBA President, Olu Akpata said: “This is such an important area of focus for this economy…and for Lawyers who get it”!

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