The Real Estate Developers Association of Nigeria (REDAN) has urged Nigerians, especially entrepreneurs, to go into real estate business because it is lucrative.
President of REDAN, Dr Aliyu Oroji Wamakko, made the appeal at the 13th annual general meeting of the association held in Enugu, Thursday.
Wamakko said real estate business is a profitable venture that “provides high returns on investment, creates jobs, increases capital stock, provides shelter as well as makes life comfortable for humanity,” therefore people should go into the business.
The President of REDAN stated that the organization has zero tolerance for dubious and subpar transactions and that they would keep collaborating with the government and its authorities to address the threat of money laundering through the real estate industry.
“Real estate is our business and we must do all in our powers to protect it and align it with best global practices,” he said.
Wammako commended Enugu State Governor Ifeanyi Ugwuanyi, who led the AGM, for his dedication to and interest in the development of real estate in his state, saying that the Governor has provided homes for many people, particularly the government servants.
He expressed appreciation for the governor’s decision to offer roughly 100 civil personnel discounted and cheap accommodation.
He also praised the governor for lowering the cost of building permits, speeding up the process of issuing property titles, and ordering, among other things, that REDAN office land be accorded fast title issuance status.
Gov. Ugwuanyi said the state has made land procurement easier by removing touts, which has helped to boost the internally produced revenue going to the state. He was represented at the event by Prof. Simon Ortuanya, Secretary to the State Government.
