How Lagos is tackling challenges in real estate – Governor’s aide

Ms. Bakarat Odunuga-Bakare, Special Adviser to Gov. Babajide Sanwo-Olu of Lagos State on Housing, says the state has implemented key measures to tackle challenges in its real estate sector.

Odunuga-Bakare disclosed this while delivering a welcome address at the fifth edition of the Lagos Real Estate Marketplace Two-Day Conference and Exhibitions.

The theme of the conference is “Reimagining the Lagos Landscape: Ensuring Sustainable Real Estate Development Practices.”.

She stated that the measures were implemented under the guidance of the governor.

The special adviser acknowledged the challenges in the sector, which include building collapses, fraudulent practices, and environmental issues, while emphasising the need for urgent and collaborative action.

According to her, the state has reinforced its regulatory frameworks by improving building codes, adopting disaster-resilient urban planning, and promoting the use of sustainable building materials and technologies.

These efforts, she said, were a testament to the state’s dedication to creating a future where the safety and well-being of residents were prioritised.

The legal practitioner highlighted that the Lagos State Real Estate Regulatory Authority (LASRERA) remains instrumental in fostering professionalism, transparency, and accountability within the real estate sector.

Odunuga-Bakare stated that by registering practitioners and enforcing compliance with global best practices, LASRERA ensures that the real estate market remains trustworthy and investor-friendly.

She appreciated Sanwo-Olu for his exemplary leadership and unwavering support for the growth of the sector.

“The governor’s commitment to the principles of sustainability and innovation has made Lagos a shining beacon of progress in Nigeria and across Africa.

“Worthy of mention is the unwavering support of Governor Sanwo-Olu towards the resolutions and proposals presented at the previous editions of this event.

“His dedication has significantly contributed to the progress achieved so far.

”I am even more optimistic that the outcomes of this year’s Marketplace Conference will further catalyse impactful collaborations and innovative solutions that drive sustainable development and economic growth in our state, she said.

According to her, the theme of the conference is both timely and vital, underscoring the pressing need to align real estate development with sustainability principles while ensuring safety, innovation, and resilience in the state’s built environment.

Odunuga-Bakare said that the annual gathering had consistently served as a cornerstone for innovative ideas, robust discussions, and strategic collaborations that shape the real estate sector in Lagos State and beyond.

She charged stakeholders in the real estate sector to collectively reimagine the Lagos landscape as the state continues to build a smart, sustainable.

Also, an inclusive city where housing and urban development meet the needs of its growing population.

“Together, we can transform challenges into opportunities and set new benchmarks for excellence,” she said.

Supreme News reports that the Lagos Real Estate Marketplace Conference brings together industry leaders, policymakers, investors, and stakeholders to exchange ideas and develop innovative solutions to these challenges.

In the next two days, participants will engage in meaningful dialogue, leverage diverse expertise, and forge partnerships that will advance the real estate sector in the state.