Real Estate Developers Association of Nigeria

Real Estate Developers Association of Nigeria (REDAN)

The Real Estate Developers Association of Nigeria (REDAN) is the primary agency and umbrella organization for the private and public real estate sectors in Nigeria, as recognized by the Federal Government of Nigeria, and is charged with ensuring that all Nigerians have access to affordable housing.

MISSION STATEMENT 

To successfully represent members in order to achieve their corporate objectives and to effectively carry on their business as development agents by establishing a public understanding of the relevance of REDAN and the efforts it is making to address Nigerians’ housing requirements.

Ensure that national legislative, regulatory, and fiscal policies are balanced in order to create the necessary framework and environment for effective housing delivery.

STATEMENT OF VISION

To be the most powerful and credible voice in the Nigerian real estate development and investment market.

With strong local and international recognition in all topics affecting the Nigeria real estate sector, it is a notable force in shaping industry policies and practices.

STRATEGIC PURPOSE

The Real Estate Developers Association of Nigeria’s strategy is to provide a platform for all real estate developers in Nigeria to collaborate for the common good. REDAN works with all levels of the Nigerian government, as well as all agencies and parastatals involved in land management, planning, infrastructure development, and housing provision and administration.

How Can I Become a Member of REDAN?

The Real Estate Developers Association of Nigeria (REDAN) is the primary organized private sector organization recognized by the government and sanctioned by the Federal Mortgage Bank of Nigeria (FMBN) – Nigeria’s main mortgage lender – to help Nigerians obtain cheap mass housing.

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The Association has grown in credibility and prestige since its inception in 2002. With over 1,500 members, the Association is capable of meeting the anticipations of all its decision-makers and serving as an effective pressure group that will drive through legislation aimed at improving the supportive framework for mass housing delivery at the National Assembly; play a role to and reshape the housing finance policies of the Central Bank of Nigeria FMBN, Prim; and drive through legislation aimed at enhancing the supportive framework for mass housing provision at the National Assembly.

REDAN is the first stop for federal, state, and local governments, NGOs, and private sector organizations, and also international shareholders, who want to build a housing program or join in housing development in Nigeria.

In the housing and real estate development industry, REDAN interacts and collaborates with all complementing institutions and organizations. It collaborates closely with the Federal Ministry of Lands, Housing, and Urban Development, which has since assigned a fully operational desk to REDAN’s activities. From the integrated National Land Bank to REDAN-sponsored projects, the ministry is a primary source of land.

The Federal Mortgage Bank (FMBN) funds both developers and PMls, and is the largest secondary mortgage lender in the country. REDAN is actively working to grow this market through the national capital market and international sources in order to assure consistent and trouble-free funding for the implementation of mass housing delivery for Nigerians.

The Federal Government now relies on REDAN and its members to implement comprehensive housing development programs that will be sustainable at all levels of the country; the recently revised National Housing Policy emphasized REDAN’s role in facilitating housing provision in order to achieve the goal of housing for all.

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Only corporate companies are eligible for membership, which is based on an application. The applicant must be a real estate development firm or be involved in a company related to the housing industry or commercial real estate development, such as the construction of residential, commercial, or industrial facilities, such as retail malls, plazas, or other commercial structures.

Any real estate company that is officially registered with the Corporate Affairs Commission of Nigeria and conducts business in Nigeria is automatically eligible to join REDAN.

Membership in REDAN is available through the national organization, state chapters, and zonal offices. Only a few of the state and zonal offices, however, are operational.

The South-West Zone, with the zonal office in Plot 2, Block B8, CMD/Jubilee Road, Magodo, Lagos, and the North-Central Zone in Nasarawa State, are the two functional zones under REDAN. Other zones have little information; to learn more, go to www.redanonline.org.

To become a member of REDAN, you must pay a charge of #350,000, which includes a #10,000 application fee, a #100,000 membership fee, a #100,000 subscription fee, and a #140,000 development levy. Membership is renewed once a year for a price of #100,000.

The national secretariat of REDAN may be found at 13, Ikeja Close, off Oyo Street, Garki 2, Abuja.

The national executive secretary is Mr. YunusaShuaibu.

Contact one or more of the association’s top guns for further information on REDAN and membership in the organization. The following is a list of their contact information.

1. National Executive Secretary: Mr. YunusaShuaibu, [email protected], [email protected], 08036508189.

2. DES, South-West zone: Mr. Olayinka Emmanuel, [email protected], [email protected], [email protected], 07060857155, 08034098575

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3. Contact Person for REDAN Membership: NgbedeOgiri – 08091156076

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