Lagos, Nigeria — The Securities and Exchange Commission (SEC) has granted an approval-in-principle to DreamCity Capital, marking a significant step for the digital real estate investment platform in Nigeria. This preliminary approval, announced on Friday, signals the SEC’s acceptance of DreamCity Capital’s proposal under certain conditions, positioning the company as a rising force in the country’s digital asset and real estate investment ecosystem.
The Chief Executive Officer and Managing Director of DreamCity Group, Benjamin Akhamere, expressed his excitement about this development, describing it as a milestone for the company. “The approval, granted under the Accelerated Regulatory Incubation Programme, solidifies DreamCity Capital’s position as a key player in Nigeria’s emerging digital asset offering platform ecosystem,” Akhamere stated in a press release.
DreamCity Capital aims to transform real estate investing by providing equity investment opportunities tailored for small and medium retail investors through the use of digital technology. Akhamere highlighted the platform’s innovative approach, which allows investors to acquire equity ownership in pre-vetted, funded, and greenfield commercially driven real estate projects.
“Our model individualizes investment offerings, streamlines stake-ownership, and ensures transparent administration of the individual real estate asset,” Akhamere explained. He further noted that this is accomplished through a special purpose company framework, designed to securely house investor equity and assets, ensuring both efficiency and security in real estate investments.
The approval-in-principle from the SEC is part of the commission’s broader efforts to encourage innovation within Nigeria’s capital market while maintaining robust investor protection. The inclusion of DreamCity Capital in this programme underscores the company’s commitment to adhering to regulatory standards while pushing the boundaries of innovation in the real estate sector.
As Nigeria’s real estate market continues to evolve, the entry of digital platforms like DreamCity Capital is expected to provide more accessible investment opportunities for a broader range of investors, potentially reshaping the landscape of property ownership and investment in the country.
