The Securities and Exchange Commission (SEC) has granted an “Approval-in-Principle to a real state investment firm, DreamCity Capital.
The preliminary approval, issued under the Accelerated Regulatory Incubation Programme, signifies that the SEC finds the company’s proposal acceptable, pending certain conditions and further requirements.
The SEC’s approval is part of a broader initiative to encourage innovation within Nigeria’s capital market while ensuring strong investor protection.
The Chief Executive Officer and Managing Director of DreamCity Group, Benjamin Akhamere in a statement he issued in Abuja, expressed his excitement about the approval.
Akhamere acknowledged the effort, emphasizing DreamCity Capital’s dedication to meeting regulatory standards while pushing the boundaries of real estate investment technology.
“DreamCity Capital aims to revolutionise real estate investing by providing equity investment offerings for small and medium retail investors through digital technology,” Akhamere said.
He highlighted that his platform allows investors to “acquire equity ownership in pre-vetted, funded, and greenfield commercially driven real estate projects.”
Akhamere further explained the unique features of the platform, stating, “Our model individualises investment offerings, streamlines stake-ownership, and ensures transparent administration of the individual real estate asset.”
He emphasised that the fear was achieved through a Special Purpose Company framework, which warehouses investor equity and
“DreamCity Capital’s inclusion in this programme underscores our commitment to adhering to regulatory standards while driving innovation in the real estate sector. The platform offers a secure and efficient model for real estate investing,” he added.
SEC Grants Preliminary Approval to DreamCity Capital is first published on The Whistler Newspaper