The Securities and Exchange Commission (SEC) has granted an “Approval-in-Principle” to a real estate investment firm, DreamCity Capital, through the Accelerated Regulatory Incubation Programme (ARIP).
The preliminary approval, issued under the ARIP, signifies that SEC found the company’s proposal acceptable pending certain conditions and requirements.
The SEC, in a statement on its website, stated that ARIP was one avenue for well-intentioned entities to legitimately introduce their digital products and services to the Nigerian capital market.
The achievement marked a pivotal step for the DreamCity Group, solidifying its role as a major player in Nigeria’s growing digital asset offering platform ecosystem.
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DreamCity Group’s CEO/MD, Benjamin David Akhamere, said the digital platform enabled small and medium retail investors to securely invest in vetted, commercially-driven real estate projects.
He said, “DreamCity Capital aims to revolutionise real estate investing by providing equity investment offerings for small and medium retail investors through digital technology. Our innovative digital platform allows investors to acquire equity ownership in pre-vetted, funded and green field commercially driven real estate projects. The platform offers a secure and efficient model for real estate investing.
Akhamere explained the platform’s unique features, stating, “Our model individualises investment offerings, streamlines stake-ownership, and ensures transparent administration of the individual real estate asset.
“The approval is part of SEC’s broader effort to foster innovation within the capital market while ensuring robust investor protection.”
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