The Nigerian real estate sector has long grappled with the obstacle of inadequate data, records, and professional reports.
However, with the current initiatives spearheaded by REDAN President, Akintoye Adeoye, there is renewed optimism that this challenge will soon be overcome, paving the way for significant progress in the industry.
Established as the foremost agency and overall body representing the organized real estate sector, both public and private, REDAN has been actively engaged in constructive advocacy efforts aimed at advancing mass housing initiatives for Nigerians.
Speaking in an event in Lagos, the REDAN chief said they will engage the government to address critical issues surrounding shelter in the country by advocating for policies that promote accessibility to housing for all citizens.
Adeoye said: “REDAN will provide members with exclusive access to market intelligence reports, data analytics, and research insights. We will establish an accelerator and incubator programme to support real estate technology startups (prop-tech) and entrepreneurs in the built environment, offering mentoring, funding opportunities, and resources such as office space and legal support. Our plan is to establish governance in the real estate sector.”
He further advocated for the recapitalisation of the Federal Mortgage Bank of Nigeria (FMBN), to facilitate affordable housing.
Also, he stated that he will institutionalise the association by collaborating with relevant institutions of government to sponsor a bill to back its existence and implement self-regulation to promote discipline and professionalism, thereby continuing its role in advancing mass housing for Nigerians.
The association he said has been recognised by the Federal Government since 2002, with its relevance stated in Section 2.6.2.6 of the 2012 National Housing Policy, where it is recognised and extensively referenced.
Beyond advocacy, REDAN is also deeply committed to safeguarding the interests of its members by providing comprehensive support, including legal assistance, capacity building, networking opportunities, and other measures to uphold industry integrity and protect consumer interests, he stated.
Building on this vision and mandate, the REDAN chief said he will pursue collaboration with government agencies and parastatals, including the Housing ministry, Federal Mortgage Bank of Nigeria (FMBN), Family homes and Federal Housing Authority (FHA).
In addition he disclosed that part of his plan is to collaborate with key ministries and parastatals to sponsor a bill to back its existence and implement self-regulation to promote discipline and professionalism, to continue in its role to advance mass housing for Nigerians.
