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Real Estate

FG to launch Real Estate Data

The Real Estate Developers Association of Nigeria (REDAN) will launch its National Real Estate Data Collation and Management Programme (NRE-DCMP), which is designed to help tackle housing problems in Nigeria, including housing deficit this week.

The event is part of the two-day Expo starting tomorrow from at Shehu Musa Yaradua Centre, Abuja. NRE-DCMP was initiated by REDAN and Central Bank of Nigeria (CBN) to collate property price index nationwide to solve housing problems in the country.

According to the body’s President, Rev. Ugochukwu Chime, the data, collated from national land administrators on pre-construction, construction and post construction activities nationwide would be hosted on the Nigeria Mortgage Refinance Company (NMRC)’s website for public usage.

Chime bemoaned how before now there was a big misrepresentation of housing data in the country which has not really helped the sector.

“I have been in different fora where ministers representing different various ministries in Nigeria outside this country were giving different data about the same issue, which is embarrassing.

“We need data for planning; we need to know where we need those houses, so we organised it in such a way that the CBN agreed to work with us to tackle housing sector crisis.

“The data emerged from developers profile and capacity, demand and affordability profile of the market within a given locality and household condition survey.

READ MORE:  The Debt Shift Theory Of The Global Financial Crisis And The Great Real Estate Bubble

He said that the association collaborated with CBN, World Bank, Ministry of Power, Works and Housing, Federal Mortgage Bank of Nigeria (FMBN) , NMRC , Value Chain, NpopC, and other stakeholders.

Source: The Guardian

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