The Premiere, a wealth management and global advisory firm specialising in providing solutions in areas such as, international real estate investment, investment immigration and professional permanent residency, has said that it is currently holding talks with stakeholders on how the real estate process in Dubai can replicated in Nigeria.

Chairman of the firm, Chief Albert Austin, who disclosed this at the inaugural press conference of the firm in Lagos recently, described Dubai, where The Premiere has its flagship real estate portfolio-the Binghatti Groveas, “one of the places where you have the easiest process to acquire a property According to him, the Dubai authorities have made their real estate processes, “very seamless,” thus eliminating legal and other hurdles.

As he put it: “They looked at their processes and they tightened them and they made them very seamless. This is one of the places where you have the easiest process to acquire a property. No lawyers, no all those legal hurdles and all that. It is you, the developer and the government.

The government is involved in every of the process and that is what gives customers confidence. And right now, we are in talks with stakeholders to see how we can replicate this and also grow our real estate space here in this country. The conversations are ongoing.”

Austin also highlighted factors which, according to him, make the Dubai real estate market very attractive to investors. He said: “Recent data shows that Dubai is the second city with the highest number of millionaires. And from projections, by next year, it is probably going to be the number one.

There is a reason why millionaires are going there. These are all the things we look at because, like we said, we are wealth managers. We want to put you in the best positions, not just to grow your wealth. Also, the UAE has been voted, for the past five years, as the top five safest countries.

It is safe. “In terms of business integration processes, they are very smooth in Dubai; the quality of life is amazing. So, these are all benefits we have looked at aside the yield, aside the capital gain. Also, a lot of people don’t know that Dubai is just at about 30-35 per cent of its developmental phase; it has not even gone halfway.

“For real estate, in terms of pricing per square feet compared to other major cities such as the New York, the UK, after the tax (deductions) and all that, you probably will be sitting on like 3-3.5 percent in terms of yield,” he added.

Austin, who noted that second citizenship or permanent residency is no longer a luxury but a necessity for Nigerians and Africans seeking access to global opportunities, stressed that the company’s goal is to change perceptions about international real estate for African clients.

Source: https://newtelegraphng.com