The Real Estate Developers Association of Nigeria (REDAN) has enjoined Nigerians, especially entrepreneurs, to go into real estate business because it is lucrative.

President of REDAN, Dr Aliyu Oroji Wamakko, made the appeal at the 13th annual general meeting of the association held in Enugu, Thursday.

Wamakko said real estate business is a profitable venture that “provides high returns on investment, creates jobs, increases capital stock, provides shelter as well as makes life comfortable for humanity,” therefore people should go into the business.

The REDAN president said that as an association, they have zero tolerance for shady and shoddy deals and would continue to work with government and their agencies so that the menace of money laundering through estate business would be curtailed.

“Real estate is our business and we must do all in our powers to protect it and align it with best global practices,” he said.

Wammako thanked Gov. Ifeanyi Ugwuanyi of Enugu State who flagged off the AGM for his commitment and interest in real estate development in his state, noting that the Governor has provided homes for many, especially the civil servants.

He expressed gratitude that the governor provided housing to about 100 civil servants at a reduced and affordable rate

He also commended the governor for reducing the cost of permits for development and accelerating the issuance of land titles as well as directing that REDAN office land should be given accelerated title issuance status among others.

Gov. Ugwuanyi, represented at the occasion by the Secretary to the State Government, Prof. Simon Ortuanya said the state has made land procurement easier by removing touts, which has contributed to increase in the internally generated revenue, accruing to the state.