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REDAN to publicise real estate data to boost affordable housing Estate

By Ella Anokam


The Real Estate Development Association of Nigeria (REDAN) says it will publicise the outcome of the national land administration, off-takers affordability and household condition survey in April to enhance housing sector.


Rev. Ugochukwu Chime, National President of REDAN, made this known at his investiture as the fifth REDAN President in Abuja.

The Professional said that REDAN would enhance and sustain the data collation, under the auspices of the National Real Estate Data Collation and Management Programme (NRE-DCMP) to boost affordable housing.

Housing News Abuja Correspondent reports that NRE-DCMP was initiated by REDAN and Central Bank of Nigeria (CBN) to collate property price index nationwide to solve year-long housing problems in the country.

Chime noted that the data would enable appropriate planning and fore-casting to take place, saying that justification of intervention by the government would also be elicited.

The Surveyor said that the data to be publicised was collated from the national land administrators on pre-construction, construction and post construction activities within each state and FCT.

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“Data will also emerge from developers profile and capacity, demand and affordability profile of the market within a given locality and household condition survey.

“We shall further the work we initiated with the Federal Mortgage Bank of Nigeria, Nigerian Mortgage Refinance Company, and Mortgage Bankers Association of Nigeria and other stakeholders to ensure ease of doing real estate business.

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“It will make home ownership accessible and affordable while expecting cooperation from policy makers and other agencies,’’ the expert said.

The national president noted that the pledge was borne out of the desire to see housing playing role of being source of economic empowerment for the citizens through employment generation.

According to him, the future of socio-economic development in Nigeria is tied to how the association articulate, propound and propel strategies that will unlock the huge potential in the industry.

He thanked all the founding fathers, who had been laboring and their successors to see that the paradigm shift in home ownership approach.

Chime said that the association needed service providers like lawyers, surveyors, town planners, estate valuers, architects, engineers, quantity surveyors, builders, marketers and media practitioners.

This collaboration, he said, would ensure that the multidimensional and multidisciplinary demands of the real estate industry were effectively actualised.

“The fifth executive will strive to position itself to ensure formidable discharge of its mundane responsibilities in areas of housing advocacy and standardisation of products and services.

Chime noted that he would consolidate and enhance the laudable agenda setting and advocacy efforts of his predecessors.

The work of re-engineering and improving the internal mechanism and processes of REDAN to reposition its service and housing delivery was on course.

Chief Olabode Afolayan, former REDAN National President, also noted that for its mandate of meeting housing needs to be achieved, strong partnership and cooperation were needed with stakeholders.

Afolayan commended those who had achieved a milestone in the housing sector by delivering housing units for the benefit of the masses.

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