. . . Pledges 50 Hectares of Land to REDAN

The Lagos State Governor, Mr. Babajide Sanwo-Olu, has vowed to deepen collaboration in the real estate sector, just as he also promised to give 50 hectares of land to the Real Estate Developers Association of Nigeria (REDAN).

He made the pledge on Tuesday at the second edition of the Lagos Real Estate Marketplace Conference and Exhibition held at the Expo Hall, Eko Hotel and Suites, Victoria Island, Lagos State, with the theme: “LAGOS: 21st Century Real Estate Investment Hub”. 

The Governor said the Conference was designed to provide a platform for all players in the real estate sector to discuss issues of common interest and proffer solutions to the challenges slowing down the pace of progress in the sector. 

He said: “The outcome of the maiden edition of this conference held last year attested to the desirability of this initiative, as it brought to the centre stage the need for a deeper collaboration and partnership between the government and private sector stakeholders to sanitise the sector by adopting a regulatory framework that conforms to global standards and best practices.”

Sanwo-Olu averred that the conference was in line with his administration’s T.H.E.M.E.S development agenda of making Lagos a 21st Century Economy, noting that the State is committed to harnessing the huge opportunities in the Lagos real estate sector to drive prosperity and sustainable economic development through public-private partnership. 

The Governor explained that the conference gives credence to the present administration’s commitment to sanitise the built sector and reinstate investors’ confidence in Lagos Real Estate, maintaining that it also underscores belief in public-private sector collaboration as an effective strategy to build a real sector economy that abhors fraudulent and unprofessional practices. 

Earlier in her welcome address, the Special Adviser to the Lagos State Governor on Housing, Mrs. Toke Benson-Awoyinka, said the conference will unearth the various opportunities that abound in the Lagos State Real Estate Market.

According to her, real estate remains a very strong and powerful investment all over the world because of its role in employment generation and creation of sustainable jobs, as well as the high potential of growing the economy of any State/Nation. 

She stressed the need for practitioners to familiarise themselves with the government’s policies in the housing sector in order to make informed decisions on investments, urging investors to make LASRERA their first point of call before investing in property in any part of Lagos State. 

“This process of verification has been simplified through the Agency’s online platform such that every necessary information can be obtained by logging on to to

know the accreditation status of any Practitioner/Organisation as the case may be”, Benson-Awoyinka disclosed.

She said Lagos State will remain a central location with an existing great network of Real Estate residential and commercial investors who can create a lot of wealth and attract benefits to stakeholders.

The Lagos State Attorney-General and Commissioner for Justice, Mr. Moyosore Onigbanjo, said an important objective of the conference is to create a Real Estate industry that sets the pace and corrects the things that have gone wrong in the sector.

“We all know that whatever happens in Lagos State affects the rest of the nation. We are, therefore, laying the block of first-class real estate industry in Nigeria in line with international best practices, strong regulatory enforcement and vibrant consumer sector to ensure a win-win for everyone”, he added.

In his contribution, the Chairman, Real Estate Developers Association of Nigeria (REDAN) and Group Managing Director/Chief Executive Officer, Revolution Plus, Mr. Bamidele Onalaja, appreciated the State Government for all its efforts in the area of housing, maintaining that government cannot, however, improve the sector alone.

He, therefore, solicited for an allocation of 50 hectares of land to REDAN, saying: “If Government allocates the land, the private sector will bring in money to develop and create an affordable housing scheme for the benefit of Lagosians”. 

About the author

Abiodun Adisa is the CEO of Applaud Multimedia Services Publisher of Applaud News Magazine and Online

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