<p><em>MI Okoro and Associates, in the estimation of industry analysts, has emerged a frontline property business company with excellent track records trailing its trajectory. The group specializes in estate agency, letting, purchase, sales, real estate consulting, management of properties, local and international valuation of properties, feasibility &; viability studies for real estate development, fund syndication for real estate development, real estate project management and assets valuation for decision making purposes.In this interview with</em><strong> Isaac Ngumah,</strong><em> the principal partner, Dr M. Okoro speaks on prospects and projections</em></p>



<p><strong>What motivated you
into real estate business?</strong></p>



<p>First, it is my choice, my calling. ; I studied it at the university. So, it wasn’t
by accident. I like estate management as a way of contributing my quota towards
national economic development. When I left the university, I worked with a professional
firm and got professional experience. From there, ; I worked with a mortgage bank where I rose to
the position of a manager.In 1994 I set up ;
M.I Okoro ; Associates. The firm
was involved in mayor valuation jobs in public and private sectors. ;So I would say the
beginning was very beautiful with high sounding technical assignments. Till
date, it is very smooth and fair also.</p>



<p><strong>What is unique about real estate business?</strong></p>



<p>It is a beautiful business. It is loving because it addressees and satisfies a major need of mankind which is housing.It is very important in the life of any human being.</p>



<p><strong>Most of your
business operations require bank financing. Are there challenges in that area?</strong></p>



<p>You cannot just run into the bank and request for loan. You must prepare yourself and have good banking records
including but not limited to business plan, statement of account, audited
account etc.With all this, banks can support.</p>



<p><strong>Tell us about your
business goal.</strong></p>



<p>Well, the business goal is that I have been able to manage ;  ;very
high volume transactions with optimal professional integrity. To a large extent,
that has served all clients creditably well in the past 30 years.  ;I do not think I have ever had any reason to
worry about any situation. I have not had any problem with any client from that
time till date. For me, that is a major achievement.</p>



<p><strong>How were you able
to break through stumbling blocks to achieve breakthrough? </strong></p>



<p>There have been so many stumbling blocks. Finance is one.
Access to land is another. You know the lands are not there because the
governments are in charge of lands within every states of the federation by
virtue of Land Use Act. ;Other challenges include
bad leadership which slows down economic activities. Once the economy is not
performing people’s purchasing power will be low.</p>



<p><strong>What kind of
supports should government give to the industry?</strong></p>



<p>Government should create primary mortgage banks and fund them. As I speak, the banks are not funded. The mortgage banks that came into existence during Babangida’s administration have collapsed. That is a challenge.So, the government should go a step further and fund the mortgage institutions. This will provoke organic construction enterprise in the system with its multiplier effects of job creation.</p>



<p><strong>What is your
advice to those that want to go into real estate business?</strong></p>



<p>They should plan very well before venturing into real estate
business. They have to be patient. It is not a business for those who are in a
hurry to make money. Professionalism and quality service delivery are key.
Clients must get satisfaction for jobs executed.</p>



<p><strong>Are there specific
projects you have handled?</strong></p>



<p>Yes, we have been involved in some hitech projects. For
instance, I was involved in major valuation National Oil and Chemical all over
the country. After that, I was involved in the valuation of University of Lagos
assets. I did jobs for government particularly in the area of valuation of
federal government property within Ikoyi and other locations. There is also the
relocation of over 40,000 traders from Central Lagos to Trade Fair Complex, now
called Auto Spare Parts market and the plaza within the Trade Fair Complex.These are just few.</p>

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