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2021, A Year Efforts Were Intensified To Sanitize Real Estate Business — Wamakko

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Kingsley U.N. Chikwendu —

The President of the Real Estate Developers Association of Nigeria (REDAN), Alh. Aliyu Wamakko recently at its 13th Annual General Meeting (AGM) in the country’s south eastern Enugu state gave account his stewardship has had in the preceding year 2021.

Wamakko said it was a year in which efforts were ‘intensified to sanitize real estate business’ and promote a stable, visible, vibrant and institutionalized association.

The Sokoto state-born businessman added that the year 2021 was one when collaborative relationships with critical stakeholders were sustained, “to enhance our prominence in the real estate eco-space”, he said.

“Our interface with the government, ministries, departments, and agencies were upheld to ensure that the link in information dissemination across purposes were not left untapped”, Wamakko stated.

He continued by expressing that the association in 2021 consolidated on its major flagship project – RUHI-774 Initiative, a scheme aimed at providing at least 100 housing units in each of the 774 local government areas in the country, including the FCT.

‘Under strict supervision and expertize of our members, REDAN promises to deliver structurally sound houses with all basic infrastructure in collaboration with relevant stakeholders”, he said.

The REDAN boss further enumerated that in order to achieve the successful execution of the RUHI-774 project, an MOU was signed with financial institutions to provide construction finance by Family Homes Funds and Shelter Afrique – a pan African housing institute.

Wamakko while detailing more activities carried out by the Association in 2021 stated that REDAN had collaboration with the Federal Mortgage Bank of Nigeria (FMBN) which he said the bank’s new executive team were keen to work with the Association.

“They have promised to to create off-takers mortgage facility to the beneficiaries of RUHI-774 along with some approved Primary Mortgage Baaks”, he added.

According to Wamakko, other strides made in 2021 include discount offers for building materials producers, exploration of construction finance opportunities for members of the Association, obligation on construction loan facilities, the Real Estate Regulation and Development Bill, collaboration with professional bodies, REDAN endorsement schemes, the 3rd Lateef Jakande Housing Lecture Series, among others.

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