Real Estate: REDAN leadership Visits Adron Homes, commends affordable housing schemes

Real Estate: REDAN leadership Visits Adron Homes, commends
affordable housing schemes.

By Fly Cable News

The President of the Real Estate Development Association of Nigeria (REDAN), Prince Akinloye Adeoye, along with his Executive team, which consist of Dr Kunle Adeyemi, Vice President, REDAN(South/ West) and Mr Jide Ogunleye, REDAN Secretary visited the Chairman and Group Managing Director of Adron Homes and Properties, Aare Adetola Emmanuel King, at the company’s headquarters in Omole Phase 1, Lagos.

During the courtesy visit, the team headed by Prince Akinloye applauded Adron Homes and Properties for its efforts in providing affordable housing schemes and praised the company for consistently bridging the gap between the masses and affordable urban development. Prince Akinloye also commended Adron Homes for transforming many individuals from tenants to landlords, emphasizing the company’s transparency, commitment, and reliability which has set a positive example for other real estate brokers in Nigeria.

He highlighted the significant contribution of the real estate sector to Nigeria’s GDP, citing statistics from the Nigeria Bureau of Statistics for Q1 of 2024. He stressed the need for the government to uphold development standards, enhance industry regulations, and eliminate unethical practices in the real estate business. According to the Nigeria Bureau of Statistics, the real estate sector contributed N11.2 trillion, representing a 5.20% share of the GDP in Q1 of 2024. Although the sector showed nominal growth compared to the previous year, its real GDP growth was lower at 0.84%. He also disclosed that 11 trillion is more than enough to prove that real estate business in Nigeria is a lucrative business that has come to stay and also implored the government to remain committed to upholding tenets of development and enhancing regulation of the industry to meet global practices and also make quackery in the business a thing of the past.