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REDAN Promises Access to Housing Market Reports

Akintoye Adeoye, the newly elected President of the Real Estate Developers’ Association of Nigeria (REDAN), has pledged to provide members with access to comprehensive housing market reports. During the association’s recent investiture ceremony in Lagos, Adeoye stated, "REDAN will offer members exclusive access to market intelligence reports, data analytics, and research insights."
 
He also announced plans to launch an accelerator and incubator program to support real estate technology startups (prop-tech) and entrepreneurs in the built environment. "We will provide mentoring, funding opportunities, and resources such as office space and legal support," he added.
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Adeoye emphasized REDAN's commitment to establishing governance in the real estate sector. "REDAN will lead in creating regulatory frameworks and governance for the industry. We will advocate for the recapitalization of the Federal Mortgage Bank of Nigeria to facilitate affordable housing," he said. He also highlighted the importance of promoting ESG frameworks, sustainable practices, and regulatory compliance to ensure long-term success for members.
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"Inclusivity, carbon emissions reduction, energy consumption, waste management, water usage, and biodiversity conservation are our focus areas. Building capacity for green building practices will be a priority, with resources, training, and incentives for adopting environmentally friendly construction methods and technologies," Adeoye explained.
 
In related news, Prof. Fabian Ajogwu of Kenna Partners has called for greater transparency in the real estate sector. He identified the lack of transparency in land tenure systems and transactions as a major issue, stating, "This makes it difficult in some Nigerian states to ascertain a property’s true ownership and history, discouraging investment and hindering sector growth."
 
Ajogwu also pointed out that corruption exacerbates the transparency problem. "Corruption, including bribery, extortion, contract fraud, and market distortion, results in resource misallocation and embezzlement, undermining the real estate sector," he concluded.

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