Nairametrics| The Nigerian Stock Exchange has identified what it perceives to be a low investors’ awareness of the real estate investment segment of the capital market. It has thus taken steps to correct this. Primary among these steps is its plan to host the first edition of the Real Estate Investment (REIT) Conference on Tuesday May 23, 2017 at the NSE Event Centre, Stock Exchange House 2/4, Customs Street, Marina, Lagos.
The conference which is titled “Real Estate Investment Trust in sub-Sahara Africa: The role of The Capital Market” is expected to be a melting point for key decision-makers, policy-makers, government officials, private sector players, property developers, asset managers, dealing members, investors and thought leaders. Their interactions will be expected to result in harnessing the growth potentials available in the real estate section of the NSE.
“One of our aims with the Conference is to discuss tropical and regulatory issues affecting the REITs within the Capital markets and Real Estate ecosystem as well as proffer strategic solutions for follow up implementation by The Exchange in its capital market advocacy role” Haruna Jalo-Waziri Executive Director, Capital Markets of the Exchange, told Daily Times, while explaining why the conference is necessary at this point.
REITs, which many Nigerians know little about, are investment vehicles that can be traded on a stock exchange and are primarily involved in investing and owning income-generating real estate assets. They allow both small and large investors to invest in portfolios of large-scale properties without actually having to go through the rigors of buying or financing property. Thus investors can use REITs as ‘shares’ in the real estate section.