REDA 2025: SANWO-OLU, STAKEHOLDERS call FOR SUSTAINABLE , INCLUSIVE REAL ESTATE DEVELOPMENT

 

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By Kayode Olopade 

Lagos State Governor, Mr. Babajide Sanwo-Olu, and stakeholders in the built sector, on Wednesday, called on developers, planners and other built professionals to prioritise sustainability, inclusiveness and transparency in Lagos’s urban growth and in.. .

This call was made at the Real Estate Discussions and Awards (REDA) 2025, organised by Thinkmint Nigeria, at the Radisson Blu Hotel, Ikeja GRA, which was attended by top stakeholders from across the Nigerian real estate ecosystem, including developers, policymakers, financiers, innovators, and investors.

With the theme “Back to the Basics: The Future of Real Estate,” this year’s edition focused on fostering dialogue, solutions, and collaborations to strengthen the foundations of a sustainable and inclusive property market.

He said the state government remains committed to creating a “people-centred housing ecosystem” in which quality, affordability, and environmental resilience are non-negotiable . 

In a keynote speech delivered on his behalf by Dr. Barakat Odunuga-Bakare, his Special Adviser on Housing, Governor  Sanwo-Olu underscored the importance of returning to core principles of integrity, transparency, and sustainability in real estate development.

He described real estate as “a sector ultimately about people, families seeking homes, youths aspiring to ownership, and investors trusting the state’s vision.”

The Governor reaffirmed his administration’s commitment to affordable housing through initiatives such as those spearheaded by the Lagos State Real Estate Regulatory Authority (LASRERA), which promotes transparency and stakeholder protection. 

He also highlighted the growing role of technology and digital platforms in modernising property documentation and management processes.

 Speaking at the event, Dr. Armstrong Ume Takang, Managing Director and CEO of the Ministry of Finance Incorporated (MOFI), identified Nigeria’s housing deficit at 28 million units, requiring more than ₦21 trillion in investment to close.

He unveiled the MOFI Real Estate Investment Fund (MREIF), a transformative initiative designed to bridge the housing gap through blended finance, single-digit mortgages, and inclusive investment

Dr. Takang revealed that mortgages at 9.75% interest with 20-year tenors are now available, calling on developers and financiers to join in “building not just houses, but hope, a market, and a nation.”

In his address, the Lagos State Commissioner for Physical Planning and Urban Development, Engr. Dr. Olayinka Abiodun Olumide stressed the vital role of urban planning in achieving sustainable growth.

He outlined the state’s commitment to digital transformation through the Enterprise Geographic Information System (E-GIS), which enhances transparency in land documentation and approval processes.

Dr. Olumide urged developers to embrace green designs, climate-smart architecture, and transparency in all transactions to ensure long-term urban sustainability.

Welcoming participants to the event, the Founder and CEO of Thinkmint Nigeria/Europe, Mrs. Imelda Usoro-Olaoye described this year’s theme as a “call to unlearn, learn, and relearn” the fundamentals necessary for a robust and sustainable real estate industry.

According to her, the conference aims to not only discuss and proffer solutions but also celebrate excellence and collaboration within Nigeria’s real estate space.

She emphasized that the REDA 2025 Conference serves as a strategic platform for bridging the gap between government policies, private sector innovation, and consumer needs, noting that collaboration remains key to driving progress in the housing and property sectors. 

Mrs. Usoro-Olaoye further highlighted the importance of knowledge-sharing and capacity building as critical tools to navigate the evolving dynamics of the real estate market.

In her words, “Sustainability and inclusivity are no longer optional. They are the foundation of modern real estate development. 

"As we gather here today, our collective goal should be to create an ecosystem where integrity, innovation, and impact drive every decision.” 

She commended the Lagos State Government for its continuous support and called on stakeholders to embrace global best practices while tailoring solutions to Nigeria’s unique realities.

Delivering a goodwill message on behalf of the Lagos State Development and Property Corporation (LSDPC), Prince Adeniyi Aromolaran, Executive Director of Enterprise Services, represented the Managing Director/CEO, Hon. Ayodeji Joseph.

He commended Thinkmint Nigeria for its consistency and emphasised that “the future of real estate will not be built on ambition alone but on integrity, sustainability, accessibility, and resilience.”

Hon. Joseph reaffirmed LSDPC’s five-decade commitment to affordable housing and urban regeneration, noting that returning to the basics is a “strategic return to what matters most.”

In the same vein, the Executive Chairman of Onigbongbo LCDA, Hon. Moyosore Adebanjo, in his address, called for a shift from building mere structures to developing functional communities.

He announced plans to establish the Onigbongbo Property Investment Company, a special-purpose vehicle to drive local investment, promote affordable housing, and expand revenue for the LCDA.

The event also featured dynamic panel sessions, including “Retail & Commercial Real Estate: Road to Growth” and “The Role of PropTech and Innovation in Modern Real Estate.” 

These discussions by different thought leaders explored how technology, collaboration, and creative financing can drive sustainable transformation across the industry.