Governor Sanwo-Olu Calls for Increased Investment to Tackle Coastal Flooding in Lagos

Governor Babajide Sanwo-Olu of Lagos State has urged for more investment to address the persistent flooding in the state’s coastal regions. He made this appeal during the Real Estate Discussions and Awards (REDA) 2024, organized by Thinkmint Nigeria. Themed "Navigating Change in Real Estate for a New Era," the event focused on how technological advancements, market shifts, and rapid urbanization are transforming the real estate industry.

Sanwo-Olu highlighted that Lagos is undergoing significant changes driven by technology, market dynamics, and a growing focus on sustainability. He emphasized that these shifts present both challenges and opportunities for the built environment. "The REDA forum provides valuable insights on how we can collectively move forward," he said.

The governor also underscored the importance of environmental sustainability in real estate development. He pointed to green building practices and flood defence investments, particularly in coastal areas like Eko Atlantic City, as critical to Lagos’ long-term strategy for addressing climate risks and environmental challenges.

Joseph Ayodeji, Managing Director of the Lagos State Development and Property Corporation, stressed the need for collaboration and innovative thinking among stakeholders to navigate changes in the global real estate market. He called for the adoption of cutting-edge solutions in construction and real estate technology.

Keynote speaker Akin Opatola, President of FIABCI-Nigeria, discussed the necessity of embracing emerging trends such as technological advancements, sustainable development, and the rising demand for mixed-use developments. "Anticipating, adapting to, and enjoying change is crucial in seizing the opportunities it presents," Opatola remarked.

Imelda Olaoye, Managing Partner of Thinkmint Nigeria, emphasized the role of technology in property management, marketing, and customer engagement. She noted that digital tools could enhance efficiency and the overall customer experience in the real estate sector.

Highlighting the relationship between aviation and real estate, Imo-Abasi Jacob, Chairman of Ibom Air and Managing Director of Akwa Ibom Investment Corporation, noted that improved air connectivity could drive economic growth, attract investment, and boost property values. He stressed the importance of government policies, land reforms, and infrastructure development in creating a conducive environment for real estate investment.

Dele Oshinowo, Chairman of Agboyi-Ketu LCDA, Lagos, underscored the benefits of partnerships between the government and the private sector in addressing housing challenges. He emphasized that such collaborations, when aligned with effective policies and shared goals, could reshape housing markets and improve living conditions for millions of people.