Signature Global Real Estate, in collaboration with Sobha Realty of Dubai, UAE, last week unveiled their iconic project, ‘Buy a Part of Dubai’ in Lagos as a golden opportunity for prospective investors in Dubai properties to key into the project.
The one-day event which had in attendance stakeholders from real estate sub-sector of the nation’s economy as well as prospective investors was put together by the Nigerian Indonesian Chamber of Commerce and Industry.
Signature Global is into residential and commercial property sales and handles the business from day one to the end. The company does property business with developers like Sobha and equally helps with documentation of property transactions. It is also involved in searching the status of properties through its system for interested investors.
Speaking on the sideline of the event described as ‘Road show’, Chairman of the Dubai-Signature, Prof Ahmed Olaniyi Salawudeen said “We have partnership with financially secured developers such as Sobha. They are one of the iconic developers as of today in United Arab Emirate UAE. Our partnership with them has been very remarkable. For Signature, we have made a number of sales in 2021. We have managed many units of property for both local and international investors. And we want to make sure that we add Nigeria to the schedule”.
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On why he is encouraging investors in Nigeria to invest in Dubai properties, Signature’s boss noted that there are benefits doing business in Dubai.
According to him, “Ownership of houses in Dubai is freehold, tax free purchases, infrastructure is superb. Yield is high, that is return on investment. The money you will make from a one-bedroom flat is far in excess of what you make from a four/ five-bedroom flat in Nigeria. I tell people when you go to Dubai, do not think about the Naira conversion rate. If you do, you won’t eat”.
Corroborating Prof Salawudeen, Chief Executive Officer of Sobha Realty, Dubai, said other benefits include guarantee of safety for Dubai properties, Dubai has the fastest system of documenting properties in the world, as within a week, a property deal can be completed, and there are laws guiding property investment in Dubai.
Explaining further about investment into Dubai properties, Signature’s Chairman said as a property broker, “Your rent never comes to us as a broker. In Dubai the broker does not touch money. It is a rule in Dubai. All we do is to get our brokerage commission.
Also explaining the workability of mortgage system in Dubai to make property investment in Dubai flexible, the ‘Road show’ organiser said “What is happening is this, if you live in UAE, particularly Dubai, the regulation is very simple. It provides security for the buyer and the seller. It is a win-win situation.
“There are lots of advantages. As an international buyer, they have a system. It is not like in Nigeria when you want to buy a property, you make one lump payment. They have mortgage banks. You can make payment in installments. This is very key.
“In Dubai, mortgage is available to each and everybody. For those who are indigenes, the government has to look after them.
That is how it should be. Many years ago in Nigeria there was a popular slogan which said ‘There will be housing for all in the year 2000’. Where are the houses today?
“You want to give a mortgage, you are asking for 11 per cent, you are asking for 15 per cent. How do you manage it? It is not possible. In Dubai for instance, you want to give mortgage, the highest is about 2 per cent maximum. Everything is flexible.
“The idea is to make the middle class enjoy. In Nigeria, are we enjoying anything? I don’t know whether you are enjoying anything. As for me, I am not enjoying anything.
