The Lagos State Commissioner for Housing, Akinderu Fatai Moruf, his counterpart in the Ministry of Physical Planning and Urban Development, Oluyinka Oluyide, the Special Adviser on Housing, Barr. Barakat Odunuga-Bakare and other key stakeholders in the Real Estate sector have outlined strategies for Real Estate Development and Regulation in Lagos.
Speaking at the opening of a two-day Nigeria Investment Summit organised by the Association of Estate Agents in Nigeria (AEAN) held recently in Lagos, the Commissioner for Housing listed strategies to address challenges and sustain progress recorded in the real estate sector.
Hon. Akinderu Fatai Moruf pointed out the deliberate efforts of Lagos State since 1999, under former Governor Bola Tinubu’s leadership, to lay the groundwork for sustainable development.
He emphasised the collaborations with Private Public Partnership to provide affordable housing schemes and also to uphold the original master plan of the State and praised LASRERA for bringing order into the Real Estate Sector.
On his part, the Commissioner for Physical Planning, Oluyinka Oluyide
underscored the need for mandatory registration of buildings, vowing that violators may be prevented from accessing bank loans.
While revealing that the State government has initiated a review of the expired Model City plan for another 20 years to ensure continuous urban development, Oluyide challenged the association to raise the alarm when building and layout plans are violated for necessary action by the present administration.
The Special Adviser on Housing, Barakat Odunuga-Bakare said that several proactive measures taken by the Lagos State Real Estate Regulatory Authority (LASRERA) have helped in curbing the risks associated with unregistered agents and briefcase operators in the State.
Also speaking, Industry Experts like Dr. Lolia Idu stressed the importance of integrity, excellence, and continuous monitoring of sector activities for effective networking while Dr. Christie Kanu emphasised market knowledge and client understanding
The theme of the two-day Nigeria Investment Summit organised by the Association of Estate Agents in Nigeria (AEAN) was “Building Enduring Partnership for a Better Future”.