REDAN vows to champion advocacy for affordable homeownership, mortgage accessibility

THE Real Estate Developers Association of Nigeria (REDAN) has vowed to champion advocacy for affordable homeownership, mortgage accessibility and fair rental policies across Nigeria.

The Association›s President and Chairman of Council, Mr. Akintoye Adeoye, disclosed this while commending the Federal Government and the Economic and Financial Crimes Commission (EFCC) for the successful recovery and return of 753 housing units and other assets located at Plot 109, Cadastral Zone C09, Lokogoma District, Abuja.

Adeoye, at a press briefing in Lagos, recommended to the government to use revenue from the recovered estate’s sale for subsidising social housing projects, particularly for low- and middle-income Nigerians.

This move, Adeoye said,  would not only deepen housing access but also accelerate the socio-economic development of Nigeria.

He said that REDAN, as a strong advocate for affordable housing, was committed to partnering with the government and stakeholders to ensure that housing remains a fundamental right, not a privilege.

REDAN  commended the prompt establishment of a 12-member Ministerial Committee, as well as the Technical Committee to assess the structural integrity and infrastructure requirements of the estate.

“Our association applauds Mr Ola Olukoyede, Executive Chairman of the EFCC, for his transparency and professionalism in managing the recovery process and ensuring that national interest was prioritised. 

“We also express our appreciation to President Bola Ahmed Tinubu for his decisive leadership in handing over the recovered estate to the Federal Ministry of Housing and Urban Development. 

“The association believes in the capacity of these committees and affirm that their terms of reference reflect transparency and accountability, focusing on structural and integrity assessments, verification and valuation of housing units, infrastructure cost analysis, development of architectural standards and strategy for equitable and affordable allocation via the Renewed Hope Housing Portal,” Adeoye said.

The REDAN president encouraged his members to uphold the highest standards of professionalism, ethical conduct, and responsible business practice in order to support a safe, secure, and sustainable real estate sector.

 He said that the executive council of REDAN has established a strategic partnership with the University of Lagos (UNILAG) by signing a Memorandum of Understanding (MoU) to advance training in real estate and construction practice.

According to him, the forum held in June 2025 will attract industry experts and cover the regulatory, technical and ethical dimensions of real estate development.

 He said: “Executive Council of our association established a strategic partnership with the University of Lagos (UNILAG) by signing a Memorandum of Understanding (MoU) to advance capacity building in real estate and construction practice.

 “The 7th Executive Council, under my leadership, has built upon this foundation and received increased support from key stakeholders and the general public, all emphasising the need for structured training and continuous professional development for our members.»

«We have strengthened our collaboration with UNILAG to design a comprehensive 7–8 day hybrid-training program (online and on-site), to be delivered by seasoned industry experts. Programme curriculum includes: REDAN: history, structure, and functions, legal compliance: raising funds from the capital and money markets in Nigeria, real estate marketing & sales, surveying & urban planning in Nigeria, understanding business financing, National Building Code & construction basics and project management for real estate developers and others.”

 The Vice President of REDAN, Dr Kunle Adeyemi, noted the crucial role of Environmental, Social and Governance (ESG) in the housing sector. He expressed concern over unending cases of building collapse across the country and advocated stiffer penalties for culprits.

He expressed concerns over the magnitude of the problem, saying it is even under-reported in the media.

According to him, practitioners should also consider reduction of emissions from the construction industry, which presently contributes about 40 percent of emissions, making the environment unsustainable.

Chairman, Lagos chapter, Dr Tony Aspire Kolawole, who also backed the need to use revenue from the recovered estate’s sale for subsidising social housing projects, particularly for low- and middle-income Nigerians, stressed that it would assist in mitigating the housing challenge.

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