By 
The Securities and Exchange Commission (SEC) has granted an Approval-in-Principle to DreamCity Capital, a pioneering digital real estate investment platform in Nigeria. This approval marks a significant milestone for DreamCity Capital, as it sets the stage for the platform’s further development and integration into Nigeria’s digital asset ecosystem.
An “Approval-in-Principle” is a preliminary endorsement from a regulatory authority, signifying that a proposal or application is generally acceptable, pending the fulfillment of certain conditions or additional requirements.
In a press statement released on Friday, Benjamin Akhamere, the Chief Executive Officer and Managing Director of DreamCity Group, expressed his enthusiasm about the SEC’s approval. He noted that this recognition, granted under the Accelerated Regulatory Incubation Programme, solidifies DreamCity Capital’s position as a key player in the evolving landscape of digital asset offerings in Nigeria.
“DreamCity Capital is poised to revolutionize real estate investing by offering equity investment opportunities tailored for small and medium retail investors through the use of advanced digital technology,” Akhamere stated. He highlighted the platform’s innovative approach, which enables investors to gain equity ownership in carefully vetted, fully funded, and commercially driven real estate projects.
Akhamere elaborated on the platform’s unique features, explaining, “Our model allows for individualized investment offerings, streamlined stake ownership, and transparent management of real estate assets.” This structure is facilitated through a special purpose company framework, which safeguards investor equity and assets, providing a secure and efficient method for real estate investment.
The SEC’s approval is part of the commission’s broader strategy to encourage innovation within Nigeria’s capital markets while maintaining strong investor protection measures.
Akhamere concluded, “DreamCity Capital’s inclusion in this programme underscores our dedication to meeting regulatory standards while driving innovation in the real estate sector.”
Comments