Sukuk Bond is Suitable for Real Estate Funding ― Report
According to a recent real estate sector report, it was highlighted that asset-backed securities such as sukuk and other kind of bonds are the way to go as regards housing development in Nigeria.
The report released by the University of Lagos Centre for Housing and Sustainable Development in partnership with the African Research Universities Alliance, revealed that real estate investment trust and portfolios can also be channeled towards funding housing delivery.
In line with the core objective of African Research Universities Alliance, this report acknowledges that in order for universities to leverage their resources they need to follow the course of partnership and networking with other institution across the world.
The African Research Universities Alliance briefly called ARUA runs with the vision of bringing together African Universities who are passionate and dedicated to developing very best research, premium teaching and learning experience and growing local research expertise through synergy and international collaboration. In the end, ARUA, wishes to keep finding solutions to the developmental problems ravaging Africa.
According to Basheer Oshodi, the research team lead and the Group Head, Non-interest Banking, Sterling Bank Plc, “the report aimed to examine how the three real estate investment instruments could shape the housing industry as well as what ought to be done to attract the funds.”
He pointed out during the launch ceremony that his team of researchers comprised of seven members and the research work lasted for about 2 years.
Prof Timothy Nubi, The Research Director and the pioneer Director of the University of Lagos Centre for Housing and Sustainable Development, in his speech said he was very happy for the successful launch of the research report.
Prof Nubi stated, “The University of Lagos was established for three main functions – teaching, research and community service – but for a long time, only teaching has been focused on.
“So, the launch of this report gives me great joy and we hope that this research trend will continue as it will help address other key issues in the society, such as the current unemployment rate in the economy.
“We hope that when more of this is done, there will be more data that can be relied on when policies are to be made. The vision of the Vice Chancellor of this university, Prof Toyin Ogundipe, is that 60 per cent of students who graduate from this school will set up their own businesses and not start hunting for jobs.”
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