The Real Estate Development Association of Nigeria (REDAN) has honoured its pioneer president, Dr Lateef Jakande; Federal Mortgage Bank of Nigeria (FMBN) and former board chairman of FMBN, Prof. Akin Mabogunje for their meritorious contributions towards the growth and development of the housing sector.
REDAN is the umbrella body of the organised private and public sector responsible for housing development in Nigeria which started its operation since 2002.
The pioneer general secretary of REDAN, Chief Guy Okechukwu who also received an award of excellence was hopeful that housing development would blossom in the next three years.
About 16 realty firms such as Lapic Nigeria Limited, Ekiti state Housing Cooperation, Ebonyi state housing cooperation, Federal Housing Authority (FHA), Jedo Investment limited, Shelter Initiative limited, COPEN Group estate, Ogun state housing cooperation, Millard Fuller foundation and among others bagged the associations merit award.
They were honoured at the fifth investiture of re-elected president of REDAN, Rev Ugochukwu Chime in Abuja for successfully completing their estates and fully repaid back the Estate Development Loan (EDL) they collected from FMBN.
In his acceptance speech, Rev Ugochukwu promised to strengthen collaboration with stakeholders to enable Nigerians reap the benefits of real estate development.
He noted that the essence of the award was to encourage real estate developers unto more inventiveness, diligence, resourcefulness and perseverance in the sector.
The president noted that the executive council of REDAN would strive to discharge its mundane responsibilities in areas of housing advocacy and standardization of products and services.
Chime pointed out that the body has identified the challenges hindering a seamless interface and smooth transaction on the housing value chain even as he promised to deal with the issues progressively.
He assured that issues of data, finance, land administration, monitoring and compliance with extant laws and best practice and among others are top on the priority list of REDAN.
Responding on behalf of the awardees, the managing director of Millard Fuller Foundation, Arc Sam Odia appreciated REDAN for the honour bestowed on them even as he thanked God that the foundation still produces houses for less than N2m.
He assured of effective collaboration with the real estate body to make housing truly affordable for Nigerians.