Experts seek tax exemption for infrastructure in housing projects

AMID rising apathy by financial institutions on the provision of long- term funds for private real estate developers to increase the nation’s housing stock, experts have canvassed for policy changes that will give tax exemptions to investors into infrastructure in real estate development projects.

They also sought appropriate regulatory changes, especially modification of tax regulations, to truly harness the benefits of Real Estate Investment Trusts (REITs) and increase its positively impact in Nigerian property market as well as ensure government becomes major drivers of the real estate sector in the country.

The experts met at the 3Invests Limited’s Real Estate Unite conference staged in Lagos, last week that provided a platform for global real estate leaders to discuss opportunities ad issues in Africa’s real estate market.