NIMC retirees, civil servants urged to key into real estate value chain

RETIREES of the National Identity Management Commission (NIMC) and other civil servants across the country have been urged to key into the real estate value chain, as it is a worthwhile investable venture.

This advice was given by chief executive officer (CEO) of Pelican Valley Nigeria Limited, Dr Babatunde Adeyemo, during at event organised for the retired workers of NIMC in Ogun State, adding that the returns are worthwhile at times goes by.

He charged them to take advantage of the job stability in civil service to invest in real estate since the steady income they draw would enable them to endure long enough for the land to appreciate to a level where they will reap bumper gains.

According to Adeyemo, a well guided investment in real estate, if done early while one is in service, has the potential to bring returns later at a sum far more than one’s gratuity and other retirement benefits put together.

He cited that a plot of land at Pelican Brief Estate, whichwas sold for N780K barely two years ago, now sells for N5million today, wondering what the price would be in the next 10 years.

Speaking on “Real Estate Value Chain”, he urged the retirees and others still in service not to wait until they retire before investing in real estate, adding that his civil servant-father’s experience taught him unforgetable lessons on why one should make hay while the sun still shines.

He recalled that his father was retired from the service prematurely after 27 years at a time he neither had personal land nor a house of his own, explaining that the incident threw the family into a harrowing experience.

Adeyemo said that the experience made him build a house early enough in his journalism career several years ago before fully venturing into real estate as his company now manages the Pelican Valley Estate, Pelican Brief Estate, Pelican Eco-stay Apartments and Pelican Green Acres Farm Estate.

He further commended former President Olusegun Obasanjo for his initiative which led to the establishment of NIMC, adding that the initiative not only created employment opportunities for many but also serves as an important data bank for all Nigerians which is necessary for critical decision making.

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