The Lagos State Government has said that no fewer than 50,000 Real Estate Agents and Property Developers have registered with the Corporate Affairs Commission, CAC, as operators in the sector.
The Lagos State Real Estate Regulatory Authority, LASRERA, spokesperson, Adeoti Sobowale made the disclosure Thursday.
Mrs Sabowale said that the mandate of the agency was to register real estate agents, property developers and other operators in the real estate business.
The special adviser explained that the regulation of the activities of service providers in the real estate property market would help build the confidence of residents.
She said the regulation would also boost the confidence of prospective investors who want to trade in the real estate market.
“”The compliance with the directive to register as operators in the real estate sector will enable the agency to have a database of all the operators.
“This will also help the agency to effectively curb all forms of illegal and dubious activities being perpetrated in the industry,” she said.
According to her, the overall idea behind the establishment of the agency is to conform to the T.H.E.M.E.S Agenda of the present administration.
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