‘Lagos real estate transactions transparent, environmentally-compliant’

Lagos State government has urged the real estate industry to embrace innovation and sustainability as key pillars for growth in the new era. Governor Babajide Sanwo-Olu reiterated his commitment to ensure it remains a leader in real estate development through comprehensive policies and investments in infrastructure, as well as outlined the state’s efforts to streamline land title registrations and secure property ownership through the issuance of Certificates of Occupancy (C of O).

These initiatives, he said, have contributed to boosting investor confidence and reducing property disputes, making Lagos a more attractive destination for real estate investments.

He stated this during a two-day Real Estate Discussions and Awards (REDA), themed, “Navigating Change in Real Estate for a New Era,” organised by Thinkmint Nigeria, in partnership with the Lagos State Development and Property Corporation (LSDPC) held in Lagos.

The governor, who was represented by the Special Adviser on Housing, Barakat Odunuga-Bakare, emphasised that real estate is not just about building structures but creating communities, driving economic growth, and fostering social development. He highlighted the critical role that infrastructure projects, including road expansions and the development of transportation networks, have played in unlocking real estate potential.

The governor, who underscored the administration’s focus on sustainability, particularly in coastal areas like Eko Atlantic City, mentioned the importance of green building practices and flood defences as part of Lagos’ long-term strategy to address environmental challenges and climate risks.

He also spoke about the role of regulatory bodies like the State’s Real Estate Regulatory Authority (LASRERA) and Environmental Protection Agency (LASEPA) in ensuring that real estate transactions in the state are transparent and environmentally compliant.

The Managing Partner, Thinkmint Nigeria, Mrs Imeida Olaoye, stressed the need for innovation and adaptation in the real estate industry. She commended the efforts of stakeholders to create solutions that address current challenges in the industry.

The Managing Director, Lagos State Development and Property Corporation (LSDPC), Ayodeji Joseph, emphasised the importance of reshaping real estate strategies to adapt to a rapidly changing world.

He reaffirmed the corporation’s commitment to advancing solutions that meet immediate housing needs while promoting long-term economic and infrastructural growth.