Lagos State Governor Babajide Sanwo-Olu has underscored the significance of innovation, sustainability, and inclusivity in shaping the future of the real estate industry in Lagos. Speaking at the 2024 Real Estate Discussions and Awards (REDA), held at Eko Hotel and Suites, Victoria Island, Lagos, Sanwo-Olu emphasized that real estate development transcends mere construction, playing a key role in fostering economic growth, creating communities, and driving social development.
Represented by his Special Adviser on Housing, Barakat Odunuga-Bakare, Sanwo-Olu praised the event’s theme, “Navigating Change in Real Estate for a New Era,” as timely given the rapid evolution of the real estate sector. He highlighted the state government’s comprehensive policies and infrastructure investments, which have positioned Lagos as a leader in real estate development.
The governor mentioned efforts to simplify land title registration and enhance property ownership security through the issuance of Certificates of Occupancy. These initiatives have improved investor confidence and reduced property disputes, making Lagos an attractive hub for real estate investment. Additionally, he pointed out the importance of infrastructure projects, such as road expansions and transportation network improvements, in unlocking the potential of key real estate areas.
Sanwo-Olu also stressed the state’s focus on sustainability, particularly in coastal zones like Eko Atlantic City, with an emphasis on green building practices and flood defences to address environmental challenges.
Imeida Olaoye, Managing Partner of Thinkmint Nigeria, applauded the industry’s response to the evolving real estate landscape. She called for innovative thinking and collaboration among professionals to tackle challenges related to technology, policy reform, and market demands.
Ayodeji Joseph, Managing Director of the Lagos State Development and Property Corporation (LSDPC), highlighted the necessity of rethinking traditional real estate strategies to adapt to a rapidly changing world. He reaffirmed LSDPC’s commitment to advancing solutions that meet current housing needs while fostering long-term economic and infrastructural growth.
The two-day event fostered discussions on reshaping the real estate sector to remain relevant in a dynamic global economy, with stakeholders encouraged to explore innovative solutions for the future.
