The Real Estate Developers Association of Nigeria (REDAN) has unveiled a comprehensive roadmap for the development of the nation’s housing sector.
REDAN president Aliyu Wamakko, in a statement signed yesterday in Abuja hailed President Bola Ahmed Tinubu for appointing Ahmed Dangiwa as the minister of Housing and Urban Development, while urging him to assent to the Real Estate (Regulation and Development) Bill.
Under the new roadmap, he emphasised the importance of facilitating the private sector’s efforts in housing construction.
The association president urged the newly appointed Minister to step back from direct involvement in housing construction and instead focus on creating an enabling environment that promotes private sector initiatives.
Wamakko said, “We commend President Bola Ahmed Tinubu for his judicious appointment of Ahmed Dangiwa as the Minister of Housing and Urban Development.
“We believe that his wealth of experience and expertise will greatly contribute to the growth and development of the housing sector in Nigeria.”
Furthermore, REDAN urges President Tinubu to assent to the Real Estate (Regulation and Development) Bill, which seeks to regulate and streamline the real estate industry in the country.
According to him, the bill addresses issues such as consumer protection, standardization of the industry, and the establishment of a regulatory framework that ensures transparency and accountability.
Wamakko emphasised the significance of the bill, stating, “The Real Estate (Regulation and Development) Bill is a crucial step towards ensuring the growth and stability of the real estate industry in Nigeria.
“Its enactment will provide a solid foundation for the sector, promote investor confidence, and protect the interests of both developers and buyers.”
Wamakko stated that REDAN’s roadmap for the housing sector development outlines key strategies, including streamlining the land acquisition process, facilitating access to affordable financing options, promoting sustainable construction practices, and encouraging the adoption of innovative technologies in the industry.
The association believes that by implementing these strategies and collaborating closely with the private sector, the housing sector in Nigeria can experience significant growth and meet the increasing demand for adequate and affordable housing.
“REDAN’s comprehensive roadmap for the housing sector development highlights the association’s commitment to promoting the growth, regulation, and development of the real estate industry in Nigeria. With the appointment of Ahmed Dangiwa as Minister of Housing and Urban Development, REDAN looks forward to working collaboratively with the government in achieving its goals and ensuring the provision of quality housing for all Nigerians,” he concluded.
