The Real Estate Discussions and Awards (REDA) 2024, hosted by Thinkmint Nigeria, concluded recently, leaving a lasting impression on Nigeria’s real estate landscape. Held at the prestigious Eko Hotel and Suites in Victoria Island, Lagos, the event attracted a vibrant mix of industry professionals, from experienced developers and investors to emerging talents and government officials.
This year’s theme, “Navigating Change in Real Estate for a New Era,” resonated deeply with attendees as the sector adjusts to rapid technological advancements, shifting market dynamics, and increasing urbanization. The event featured prominent speakers, including His Excellency Mr. Babajide Olusola Sanwo-Olu, the Executive Governor of Lagos State, whose address was delivered by his Special Adviser on Housing, Barr. Barakat Odunuga-Bakare. Other notable speakers included Imo-Abasi Jacob Snr, Chairman/MD of Ibom Air/AKWA-IBOM Investment Corporation, representing Akwa-Ibom state Governor Pastor Umo Eno; Mayor Dele Oshinowo, Executive Chairman of the Agboyi-Ketu LCDA; and Mr. Akin Opatola, President of FIABCI-Nigeria. Their insightful keynote speeches illuminated the future of real estate in Nigeria.
Governor Sanwo-Olu emphasized the transformative changes taking place in Lagos, highlighting the dual challenges and opportunities brought about by technological advancements, shifting market trends, and an increased focus on sustainability. “These changes create both challenges and opportunities, and I believe the REDA forum provides us with a platform to collectively brainstorm on how to move forward,” he stated. He strongly advocated for environmental sustainability in real estate, pushing for green building practices and investments in flood defenses, particularly in coastal areas like Eko Atlantic City, as part of a long-term strategy to address environmental and climate risks.
Mr. Imo-Abasi Jacob Snr pointed out the crucial connection between aviation and real estate, explaining how improved air connectivity can spur economic growth, attract investments, and elevate property values in specific regions. He expressed a vision for Akwa-Ibom state focused on increasing traffic and enhancing infrastructure. Additionally, he underlined the need for supportive government policies, land reforms, and accessible housing initiatives to drive growth in the real estate sector.
In his opening remarks, Hon. Joseph Ayodeji, Managing Director/CEO of the Lagos State Development and Property Corporation (LSDPC), which collaborated on the event, stressed the necessity for critical thinking and collaboration among real estate stakeholders. He called for innovative solutions in construction and real estate technology to adapt to the evolving global marketplace.
Keynote speaker Akin Opatola discussed emerging trends in the industry, highlighting the concept of “Real Estate as a Service,” transitioning from traditional product-centered models to systems and services. He stressed the impacts of technological progress, sustainable development, and the rising demand for mixed-use developments, encouraging attendees to “anticipate change, monitor it, adapt, and enjoy it.”
Mayor Dele Oshinowo underscored the significance of government-private sector partnerships in addressing housing challenges, pointing out how these collaborations can enhance efficiency, share risks, and provide access to resources. “These partnerships signify a new chapter in urban development and housing solutions, poised to reshape housing markets and uplift the quality of life for millions,” he affirmed.
Mrs. Imelda Usoro Olaoye, managing partner of Thinkmint Nigeria, shared insights on the increasing role of technology in real estate. She explained how digital tools and media can enhance property management, marketing, and customer engagement, ultimately leading to improved efficiency and a better customer experience.
The event also showcased a range of panel discussions, workshops, networking opportunities, and exhibitions from organizations such as MGE Realty, Family Homes Funds, and HomeWork Group Africa. Participants delved into key sectors like affordable housing, sustainable development, and innovative technologies, creating a valuable platform for investors and real estate enthusiasts alike.
REDA 2024 culminated in an awards ceremony honoring outstanding contributions within the real estate industry. The awards celebrated individuals and organizations committed to innovation, sustainability, and ethical practices, inspiring others while underscoring the importance of excellence in the field.
