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Real Estate: The key to resolving the nation's economic crisis

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The real estate has been identified as key to resolving the nation’s economic crisis. Chief Executive Officer, GText, Akintayo Stephen who made the assertion while unveiling his firm’s post COVID-19 plans, stressed that the sector remains a reliable one, which can stand the test of time, generate revenue and ensure mass employment. According to him, despite the challenges posed by the pandemic, his company has not taken loan from any bank, because of the peculiarity of the estate business. “We’ve seen investors combine bank money with other people’s fund, and those investors lost out because the bank took over their investments. We always try to emulate developed countries in this part of the world, forgetting that we are not the same. There is a structure with the banks and the government that makes the payment for properties flexible. “All I need to do as a developer in Dubai, is to bring a customer that has paid up to 10 percent, to the bank, and the bank will give me the remaining ...