Developers evolve initiatives to drive growth in real estate sector | Prestige Real Estate News
Real estate developers have evolved series of strategic initiatives aimed at driving and advancing growth in Nigeria’s real estate sector.
The developers under the aegis of Real Estate Developers Association of Nigeria (REDAN) unveiled these initiatives recently at their national secretariat in Abuja.
Akintoye Adeoye, the association’s President and Chairman, outlined the association’s plans, which are designed to promote sustainable development, enhance industry standards, and address pressing housing challenges facing Nigeria.
“These initiatives are part of REDAN’s broader efforts to support government’s agenda and foster growth within the industry,” Adeoye explained, pointing out REDAN’s pivotal role as the foremost organization dedicated to advancing housing and real estate development in Nigeria.
He lauded the association’s commitment to collaborating with government bodies, financial institutions, and key stakeholders to address the nation’s pressing housing challenges.
“REDAN stands as a unified platform for real estate developers, working tirelessly to enhance the sector by advocating for favorable policies, establishing industry standards, and fostering collaboration among key stakeholders,” Adeoye said.
In alignment with the government’s efforts to address Nigeria’s housing needs, REDAN announced the formation of 24 specialized committees comprising over 100 members.
These committees will support the association’s mission in areas such as advocacy, transparency, innovation, professionalism, and sustainability. The committees, each with a specific focus, are set to address critical challenges within the real estate sector.
For instance, the Membership, Ethics & Disciplinary Committee, chaired by Mercy Iyortyer, will oversee disciplinary matters and maintain ethical standards.
Similarly, the National Assembly and Legislative Matters Committee, headed by Kabir Umar Gana, will advocate for housing-related laws to create a more enabling environment for real estate development.
Other notable committees included the Real Estate Investment Trust Committee, led by Abdulmalik Mahdi, which will explore diversified investment strategies, and the Directorate of Environmental, Social, and Governance (ESG), under Otunba Olusola Enitan, which will promote sustainable development practices within the industry.
“These committees are integral to our strategy to elevate industry standards, embrace innovation, and ensure the long-term viability and resilience of real estate development in Nigeria”, Adeoye stated.
As REDAN embarks on this new chapter, Adeoye expressed confidence that the collective efforts of the association’s members will lead to significant achievements that will benefit the real estate industry and the nation.
“We deeply appreciate the efforts of the men and women who have volunteered their time and expertise to serve on these committees.
“Their contributions will not only shape the future of our association but also play a crucial role in repositioning Nigeria’s housing sector,” he noted.
He also praised Ahmed Dangiwa, the Minister of Housing and Urban Development, for his leadership and achievements in the past year, which have significantly advanced President Tinubu’s Renewed Hope agenda.
The Minister’s initiatives, including the groundbreaking of 6,612 housing units under the Renewed Hope Cities and Estates Programme, and the partnership with Shelter Afrique Development Bank to deliver 5,000 affordable housing units, were particularly commended.
