By Lukman Olabiyi
Lagos State Governor, Mr. Babajide Sanwo-Olu has told players in the built industry to avoid undermining established rules, processes but abide by all regulations guiding real estate practice including the Lagos State Real Estate Regulatory Authority (LASRERA) laws and other related regulations
The governor stated this while speaking with stakeholders of built industry at 4th edition of the Lagos Real Estate Marketplace Conference and Exhibitions organized to provide insight into the investment opportunities in the sector.
The theme for the two days event was:”Real Estate Regulation: A panacea for disaster mitigation and recovery in the built industry”.
Sanwo-Olu who was represented by the state Commissioner for Housing, Moruf Akinderu-Fatai, said
the urgency of addressing the impact of a well-regulated real estate sector is more apparent than ever.
He said theme of conference was quite apt as it encapsulated the state’s dedication to fostering an environment of regulatory excellence and resilience within the real estate industry.
“As a government, we are resolute in our determination to ensure full implementation of our zero tolerance policy against non or partial compliance with LASRERA laws and regulation and standards in the built industry in order to sustain investors confidence in the real estate sector.
“Furthermore, in order to minimize the risk of disasters and enhance the resilience of structures, it has become compulsory for relevant authorities to require individuals/organizations to purchase insurance coverage against natural disasters.
“We will adopt a holistic approach that combines regulatory measures with other strategies to achieve more comprehensive disaster mitigation and recovery outcome.
“Real Estate Regulation, when wielded effectively, becomes a shield against the vagaries of the industry. It begins with the establishment of stringent building codes and standards that ensure our structures are not just habitats but fortresses capable of withstanding the tumultuous winds, floods, and quakes that nature may unleash”, he said.
In her welcome address, the Special Adviser to the governor on housing, Barakat Odunuga-Bakare, charged all the stakeholders on working together as team for brighter future of the sector.
She said:” As we engage in these conversations and discourse, let us foster an environment of cooperation and innovation. I believe that working together, we have the muscle to shape policies and practices that safeguards our buildings and infrastructure and also create the path to a more resilient and sustainable city.
” As the Special Adviser to Mr. Governor on Housing, I want to reiterate to all stakeholders that my doors are wide open for collaboration and effective regulation that will boost your businesses and grow Lagos economy further”.