Developers advocate favourable policies, standards

Real Estate Association of Nigeria (REDAN) advocated favourable policies that would establish industry standards, and foster collaboration among key stakeholders.

REDAN President, Akintoye Adeoye, who spoke at a press conference in Abuja, said the association would play a vital role in giving strategic direction to housing challenges faced by both federal and state governments, especially, financial institutions to promote affordable housing and sustainable development.

Adeoye said: “We recognise the progress in increasing the availability of affordable and decent housing for Nigerians, as demonstrated by the construction of 6,612 housing units across 13 locations nationwide under the Ministry’s Renewed Hope Cities and Estates Programme.

He commended the Ministry of Housing and Urban Development for its achievements, noting that housing institution reforms and plans for a National Housing Data Centre are significant milestones that deserve recognition and support in addressing the housing needs of Nigerians.

He said despite numerous challenges in the sector, such as regulatory barriers, financing difficulties, and land acquisition issues; REDAN is committed to supporting members to effectively address the challenges.

The Chairperson, Rural Urban Housing Initiative (RUHI) Committee, Mrs Mercy Iyorter, said they will review the RUHI scheme, streamline issues and track the progress of housing projects.

Iyorter said: “The initiative is aimed at fostering trust, discipline, and accountability within the real estate sector,” saying that they would look to the future, embrace and integrate technology, and green initiatives that enhance credibility in the real estate business.