History, was again made at the weekend as Prince Akintoye Adeoye, was inaugurated as the fifth President of the Real Estate Developers’ Association of Nigeria (REDAN), promising to improve the fortune of members and the industry in the next four years.
Speaking in Lagos at an elaborate ceremony organised to usher Adeoye and his executive members in, the new president said his agenda for next four years would centre on building on the foundation his predecessors had already laid by providing affordable housing for Nigerians, including social and rental housing.
To make this happen, Adeoye said that REDAN would partner with the Federal Government on its renewed hope housing initiative to provide affordable homes for Nigerians.
He promised to embrace partnership, networking, and collaboration, explaining that his administration would establish robust partnerships with the public and private sectors, NGOs, and international bodies.
He emphasised that collaboration with Federal and State governments on land reforms, governance and land administration would create a conducive environment for investments.
“We will provide platforms for engagement with financial institutions, investors, and government agencies, enabling members to access funding opportunities, grants, and resources for project development and expansion,” he said.
He also talked about advocacy and industry advancement, saying that REDAN would promote positive change and advancement within the real estate industry through advocacy, transparency, innovation, professionalism, technology, ethics, credibility, and discipline during his tenure.
According to him, his administration ongoing engagement with government and private sector players will foster growth and wealth creation in the real estate sector.
He said “We aim to institutionalise and professionalise REDAN. A regulatory Act is urgently needed to reinforce our existence, enhance self-regulation, and enforce discipline. I call on the support of the minister, members of the National Assembly, our royal fathers, and stakeholders to achieve this feat.”
On inclusivity and diverse membership, he explained that REDAN would welcome a diverse range of stakeholders, including real estate development companies, proptech start-ups, national housing associations, academia, professionals in the building and construction industries.
Also other stakeholders are realtors, diaspora communities, faith-based developers, construction companies, hospitality developers, educational facilities developers, health and wellness facility developers, commercial, industrial and logistics developers, cooperatives societies, specialized developers, and students.
“We aim to create an inclusive platform for all stakeholders in the real estate and built environment,” Adeoye said.
The new president said that REDAN would take a leadership role in creating regulatory frameworks and governance for the real estate industry.
According to him, the association will advocate for the recapitalisation of the Federal Mortgage Bank of Nigeria to facilitate affordable housing; promoting ESG frameworks, sustainable practices, adding that regulatory compliance will position members for long-term success.
He said “We will focus on inclusivity, carbon emissions, energy consumption, waste management, water usage, and biodiversity conservation. Building capacity for green building practices will be a priority, offering resources, training, and incentives for adopting environmentally friendly construction methods and technologies.”
He also promised to invest in research on new construction methods, clean energy, and property prices.
He said he would help in facilitating the acquisition of relevant skills and technologies for modern construction.
“REDAN will provide members with exclusive access to market intelligence reports, data analytics, and research insights. We will establish an accelerator and incubator program to support real estate technology start-ups (prop-tech) and entrepreneurs in the built environment, offering mentoring, funding opportunities, and resources such as office space and legal support.
“Together, let us work towards a future where the Nigerian real estate sector is globally recognised for its innovation, transparency, integrity, and socio-economic contributions. REDAN will take charge of transforming the Nigerian real estate landscape, fostering sustainable growth and productivity, and improving the lives of our citizens,” Adeoye said.
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