Abuja: The President of the Real Estate Developers Association of Nigeria (REDAN), Oba Adeoye, has called on real estate developers to cease ‘silo’ operations and promote collaboration to fortify the association. Adeoye delivered this message at a one-day summit for real estate developers in the North-Central Zone, held in Abuja.
According to News Agency of Nigeria, the summit, themed ‘Collaborate to Consolidate,’ aimed to enhance cooperation and knowledge-sharing among developers. Adeoye emphasized that REDAN could only grow stronger if its members, state chapters, zones, and national leadership worked together. He highlighted that effective collaboration would allow members to exchange knowledge, opportunities, and experiences for the association’s collective growth.
Adeoye stressed that the summit’s theme was a call for abandoning isolated operations in favor of collective action. He explained that developers could not continue building their companies independently without tapping into the expertise available within the association. Adeoye further noted that REDAN’s state chapters and zones should not operate in isolation, as stronger cooperation would foster the association’s development.
He pointed out that REDAN members possess considerable expertise across various real estate development aspects, including land acquisition, development, finance, construction, project management, planning, sales, and affordable housing. Adeoye added that members also hold knowledge in government engagement, community relations, housing finance, consumer relations, and technology, presenting an opportunity to collectively address the industry’s challenges.
One significant challenge, according to Adeoye, is not a lack of professional capacity but the failure to effectively connect and utilize the existing capacity within the association. He urged REDAN to create robust platforms for members to exchange ideas and experiences benefiting the entire association. Adeoye suggested that successful strategies from one state chapter should be shared with others facing similar challenges.
He also advocated for improved information flow between REDAN’s national leadership, zones, and state chapters, emphasizing that challenges experienced at the state level should be communicated to the national leadership to strengthen advocacy efforts. Opportunities secured through national leadership should be shared with members nationwide.
Adeoye highlighted that greater collaboration could enable REDAN members to negotiate better deals through economies of scale, citing a vehicle arrangement facilitated by the North-Central Zone as an example. He encouraged developers to leverage each other’s experience and expertise to strengthen their businesses and contribute to industry development.
Mr. Osilama Osilama, National Vice President of REDAN North-Central Zone, called on the Federal Government to adopt measures to reduce the rising cost of cement and iron rods. Osilama explained that the increasing prices of these materials were making it difficult for developers to provide affordable housing. He recommended liberalizing the cement and iron rod market by granting more licenses to importers and allowing new manufacturers to operate.
Bature Muhammad, National President and Chairman of the Council of the Nigerian Institution of Estate Surveyors and Valuers (NIESV), also urged developers and investors to properly structure and document partnerships. Muhammad emphasized that real estate development required land, capital, expertise, technology, and market knowledge, and that structured collaboration could unlock land, mobilize capital, share risks, and improve project delivery.