The team at ‘The Anirejuoritse Group’ Nigeria Limited (T.A.G) has fully activated this year’s edition of its annual Real Estate Expo (TAGEXPO) organized to guide Nigerians in the diaspora to credible Real Estate developers with property investment that suit their budgets and needs.
Every year, TAGEXPO takes interested real estate developers from Nigeria to the United Kingdom and the United States to showcase their property in a fair where they convince Nigerians abroad to procure property in the country for investment or occupancy. They can leverage on the weak naira to buy properties ranging from up N9million to about N200million.
This year, the organisers are adding a new twist in the form of a Special Purpose Vehicle that allows up to five people pay for a single property and own blocks.
“For every property, we would get people who will come together, say it is N60m, we can sell it to five different people and then each person can buy a block, or one fifth of that property, that ensures that no matter who attends the event, more people will buy the property. We create an SPV and the SPV now owns the property, with the names of the buyers, this is strictly for investment purpose, not owner occupier scheme,” says Michael Ejoh, the convener and chief marketing officer of T.A.G. Nigeria at a stakeholders breakfast meeting, in Lagos, on April 12.
The organisers say the TAGEXPO is open to real estate developers in Nigeria, all financial institutions with facilities for loans and other real estate acquisition services, Insurance companies, mortgage firms, and Nigerians in the diaspora.
The idea for the expo was borne out of careful feasibility studies, which provide participants with a robust database of Nigerian professionals living abroad who either want to return home or are seeking Real Estate investment opportunities in Nigeria. TAG says it has been invited to take a stand at the Offshore Technology Conference (OTC) holding in Houston, United States to hold one-leg of the fair.
“The continued theme for the TAGEXPO is to “Meet, Invest, Secure” – encompassing the core responsibilities on Real Estate purchase to connecting and negotiating, making a commitment and insuring your commitment. This year we are looking to go bigger than we have in the past two years, so much has been learnt on this journey and we hope to incorporate all the lessons to produce an even more engaging event for developers and attendees. We are also including properties from eastern parts of Nigeria as we have had inquiries about properties from there
“We have designed the TAGEXPO to be an all- day, family event. We believe that if you are buying a property you are not only buying for yourself. We encourage peoplt to come with their families and talk directly to the developers. We have designed an expression of interest form where prospective investor can talk directly with their potential interest concentrate on those who have filled the form,” Ejoh said.
Apart from the two locations, there would road shows to specific locations of interest where members of Nigerian professional bodies are engaged further on behalf of interested developers. “In 2016, the road show took us to Milton Kenyes and Manchester; we also explored Oxford and Dallas in 2017. This year, there are plans to meet up with Nigerians in the New Jersey and DC area of America”, Ejoh added.
The inaugural TAGEXPO in 2016 took place in London, while the 2017 Edition toured 2 cities in 2 different continents: Houston and London. The events were attended by Real Estate Developers from Nigeria, and guest Nigerians, the UK and the US, many of whom were representatives of Nigerian professional bodies and communities in the UK. Those who could not attend, had the option of including their listings in a brochure that TAGEXPO distributes to those who attend the fair.
This year, TAG Nigeria said it is partnering with “Kreativ Management Limited,” a financial advisory and solutions firm on financing property acquisitions either from Nigerians in the diaspora or Nigerians at home. The agreement which was signed on Tuesday March 20, is in line with the TAGEXPO’s growth plan, following a successful 2 year run, the organisers said.
Opeoluwa Osho, managing director of Kreativ Management Limited said his team had carefully considered the TAGEXPO as a viable solution to the challenges facing Nigerians in the Diaspora who needed real estate advice and a connection to credible developers from whom they can purchase property in Nigeria.
Osho further said that the partnership was agreed upon by both organizations to propel the already existing process, commending the TAGEXPO for its consistent delivery of the fair over the past two years while expressing his enthusiasm for the value that Kreativ Management Limited will bring to the overall success of the events.
Morenike Peter-Thomas (ANIPR ARPA), the communications Lead of the EXPO said in her welcome speech said that TAGEXPO is all about credible Real Estate synergy. The breakfast event is aimed at allowing developers interact with the team and also get a brief of the plan for the year’s activities.
ISAAC ANYAOGU
