Urges assent to Real Estate Regulatory Bill
The Real Developers Association of Nigeria (REDAN), yesterday, called on the Federal Government to channel proceeds from recovered estates into subsidising social housing projects, particularly for low- and middle-income Nigerians.
  
The association said this would not only deepen housing access but also accelerate the socio-economic development of the country.
 
President and Chairman of Council, REDAN, Akintoye Adeoye, made the appeal while addressing journalists in Lagos.

He said REDAN, as a strong advocate for affordable housing, is committed to partnering with the government and stakeholders to ensure that housing remains a fundamental right, and not a privilege.
 
Adeoye said the association will continue to champion advocacy for affordable homeownership, mortgage accessibility, and fair rental policies across the federation.

He appealed to President Bola Tinubu to assent to the Real Estate Regulatory Bill to check fraudulent practices in the industry.
 
REDAN commended the 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.
 
He further lauded 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,” he said.
  
The REDAN boss said the association believed in the capacity of the committees, and affirmed 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. 

He encouraged members to uphold the highest standards of professionalism, ethical conduct, and responsible business practice to support a safe, secure, and sustainable real estate sector.
  
On capacity development for developers, he said the Executive Council of REDAN had 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.
   
On their part, the Vice President of REDAN, Dr. Kunle Adeyemi, and Chairman, Lagos chapter, Dr. Tony Aspire Kolawole, highlighted the importance of Environmental, Social and Governance, a framework used to assess a firm’s business practices and performance on various sustainability and ethical issues in the housing sector.
 
The housing experts urged practitioners to prioritise the reduction of emissions from the construction industry, which currently contributes about 40 per cent of emissions to the atmosphere.