REDA 2024: Navigating Change in Real Estate For A New Era
The Real Estate Discussions and Awards (REDA) 2024 organized by Thinkmint Nigeria was concluded with resounding success, solidifying its position as a premier event in Nigeria’s real estate landscape. Held at the prestigious Eko Hotel and Suites, Victoria Island, Lagos, REDA 2024 brought together a diverse range of industry professionals,from seasoned developers and investors to emerging talents and government officials.
The event’s theme, “Navigating Change in Real Estate for a New Era,” resonated deeply with attendees, as the industry continues to evolve rapidly in response to technological advancements, shifting market dynamics, and increasing urbanization.
In attendance at the event were renowned national and industry leaders, including His Excellency, Mr. Babajide Olusola Sanwo-Olu, The Executive Governor of Lagos State, whose speech was delivered by his representative Special Adviser on Housing, Barr. Barakat Odunuga-Bakare, Imo-Abasi Jacob Snr(Chairman/MD Ibom Air/AKWA-IBOM INVESTMENT CORPORATION who spoke on behalf of the Governor of Akwa-Ibom state His Excellency Pastor Umo Eno , Mayor Dele Oshinowo, Executive Chairman Agboyi-Ketu LCDA, Lagos, and Mr. Akin Opatola, President of FIABCI-Nigeria, delivered insightful keynote addresses that set the tone for the event. Their expertise and experience provided invaluable guidance to attendees, offering valuable perspectives on the future of real estate in Nigeria.
The Governor of Lagos State, Mr. Babajide Olusola Sanwo-Olu stated that the changes being witnessed in Lagos, from technological advancements to shifting market dynamics and an increasing emphasis on sustainability, are fundamentally reshaping the future of the built environment. “These changes present both challenges and opportunities, and I have no doubt that the REDA forum generates an avenue for valuable insights into how we can collectively move forward,” he said.
He also emphasized the need for environmental sustainability in real estate development. Saying that by encouraging green building practices and investing in flood defenses, especially in coastal areas like Eko Atlantic City, demonstrates that his administration recognizes the importance of green building practices and flood defenses as part of Lagos’ long term strategy to address environmental challenges and climate risks.
Highlighting the symbiotic relationship between aviation and real estate, Mr Imo-Abasi Jacob Snr emphasized on how improved air connectivity can stimulate economic growth, attract investment, and increase property values in targeted regions. He said the kind of economy aimed at Akwa-Ibom state is to drive traffic into the state and open gateways for roads. He also emphasized the importance of government policies and regulations in creating a conducive environment for real estate investment. He highlighted the need for land reforms, infrastructure development,and affordable housing initiatives to drive growth in the sector.
In his opening remarks, Hon. Joseph Ayodeji MD/CEO of the Lagos State Development and Property Corporation (LSDPC) partner organization of the event expressed the need for critical thinking and collaboration among real estate stakeholders in navigating the changes seen in the global real estate marketplace, with a focus on ways to the adapt to these trends using innovative solutions and methods in areas of construction and real estate technology.
Keynote Speaker Akin Opatola (President FIABCI-Nigeria) spoke on “Real Estate as a Service, From Product and Space To System and Service” emerging trends in the real estate industry, such as technological advancements, sustainable development, and the growing demand for mixed-use developments. He stressed the importance of adapting to these changes and seizing the opportunities they present. “Change happens, anticipate change, monitor the change, adapt to the change, and enjoy the change” he said.
Also speaking at the event, Mayor Dele Oshinowo (Executive Chairman Agboyi-Ketu LCDA, Lagos) focused on the importance of government and private sector partnerships in addressing housing challenges. He emphasized the benefits of collaboration, such as increased efficiency, shared risks, and access to resources.
“Government and private sector housing partnerships signal a new era in urban development and housing solutions. By combining public sector goals of social equity and affordable housing with the private sector’s expertise in innovation and efficiency, these partnerships offer a promising path toward solving housing challenges globally. As long as there is proper alignment of goals, effective policy support, and shared responsibility, these collaborations have the potential to reshape housing markets and improve the quality of life for millions of people” he said.
Mrs. Imelda Usoro Olaoye , managing partner of Thinkmint Nigeria highlighted the increasing role of technology in the real estate industry. She discussed how digital tools and media can be used for property management, marketing, and customer engagement, improving efficiency and enhancing the overall customer experience.
The event also featured a series of panel discussions, workshops, networking opportunities and exhibitions from organizations like MGE Realty, Family Homes Funds, HomeWork Group Africa, Rebar Perfecta, Terra Developers, Facibus Housing. The showcase delved into specific areas of the real estate sector,such as affordable housing, sustainable development, and emerging technologies, as well as a platform for investors and real estate enthusiasts to gain valuable insights into the world of the real estate market.
REDA 2024 also recognized outstanding achievements in the real estate industry through its prestigious awards ceremony.The awards honored individuals and organizations that have made significant contributions to the sector, promoting innovation, sustainability, and ethical practices. The recognition served as a source of inspiration for others and highlighted the importance of excellence in the field.
