Real Estate Practitioners Move To Check Abuse

Real estate practitioners have cried out against the activities of unscrupulous elements operating in the sector.
The Estate Agents Practitioners Association of Nigeria (EAPAN) in collaboration with the Lagos State Real Estate Transaction Department (LASRE TRAD), gave the indication at a stakeholders forum recently in Lagos.
The Tide source gathered that due to the high market demand and the potentials the sector holds, activities in the real estate sector have become susceptible to abuse by individuals who engage in nefarious and unconventional activities.
Lagos State Governor, Akinwanmi Ambode, lamented at the forum with the theme, Arbitration: A Better Option To Dispute Resolution in Real Estate Practice, expressed disatisfaction that the number of court cases that the State Ministry of Housing has instituted as a result of issues arising from real estate transactions in recent times have not only become unprecedented, but was also becoming a thorny issue.
Ambode who was represented by his Special Adviser on Housing, Mrs Aramide Giwauson, stated, “therefore the need to expeditiously dispose these cases in order to sanitise and build confidence in the sector for the benefit of all stakeholders cannot be over-emphasized”.
Also speaking, the Lagos State Commissioner for Housing, Gbolaha Lawal, stated that in view of the importance of the sector and its significant contribution, to the Gross Domestic Product (GDP) of the country, it is imperative that activities in such a sector are adequately and properly regulated to enable it deliver optimumally for the overall benefit all and sundry.