Investors in real estate products stand to benefit from security of their investments and good and stable returns on their investments.
Head, Treasury and Investment, Resort Savings and Loans Plc, Mr. Jeff Ejemai, said for many investors who may still be in a quandary as to where to invest their money, investment in real estate is the way to go. Ejjemai made this observation recently in Lagos while unveiling the company’s investment product.
According to him, investment in real estate guarantees a great return for the investor as it affords individual investors opportunity to tap into the vast housing market.
“There is a deficit in housing which government alone cannot cater for, which necessitates the need for the private sector to invest. Any investor who puts his money into housing project now will surely reap a good return,” Ejjemai said.
Commenting on the bank’s investment product, he said the aim of the product was to extend the opportunity for investors to invest in real estate noting that such investors will not only get good returns on their investments but would also be able to save money in reliable assets.
He explained that Resort Savings is offering investors opportunity to invest and earn return adding that a fixed deposit ranging from N500,000 to N2 million provided by the investor will be the basis of the investment for which a fixed rate of return will be paid to the investor in the form of interest at an agreed period not less than six months. Minimum interest rate of 15 per cent per annum will be paid to such investors.
He said Resort Savings and Loans will use funds to finance residential properties being constructed in Lagos and Abuja and any other state capital.
He added that once the bank gets to a particular milestone in terms of the required amount of funds from the investor, it will invest the funds in other portfolios, which include Treasury Bills and bonds apart from the real estate.
He noted that the level of risk in the real estate business is low adding also that the investors have a rock sure assurance that their capital will be safe.
“It should be noted that capital gains can also be realised when the property is sold, making real estate a relatively longer-term investment,” Ejjemai said.
He pointed out that there is a ready market for the estates given the paucity of housing in the country.
Source: The Nation