The Lagos State Government has disclosed as long as real estate developers fail to comply with the laid-down physical planning standards, it will continue to demolish more illegal structures across the state.
The Lagos State Governor disclosed this at the closing ceremony of the 4th Lagos Real Estate Market Place Conference and Exhibition, with the theme; “Real Estate Regulation: A panacea for disaster mitigation and recovery in the built industry.”
Sanwo-Olu, represented by the state Head of Service, Mr. Bode Agoro said that real estate developers and residents of the state must endeavour to verify the status of every land.
According to the governor, only lands that were duly registered at the Lands Bureau of the state and with proper documentation and titles should be considered for investments in the state.
- He said: “Anyone who obtained planning information from the Ministry of Physical Planning and ensure proper titles to the land would be spared from any issues with the government. Every building must conform with the plan of the state while Environmental Impact Assessment must be considered at all times.
- “Lagos State Government is doing the utmost best but very disheartening that some illegal developers were carrying out activities to undermine the physical planning of the state.”
He, further added that Lagos is battling with proper planning for thousands of people who migrate into Lagos daily in search of greener pastures, adding abiding by the physical planning standard of the state will avert disasters such as building collapse.
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Contributing to the discourse, the Special Adviser to the state Governor on Housing, Barakat Odunuga-Bakare emphasized that professionals in the built industry must adhere to best practices to mitigate associated disasters in real estate investment.
According to the Special Adviser, adherence to established guidelines and regulations is crucial to ensure the safety and resilience of buildings and infrastructure.
Furthermore, Odunuga-Bakare said that the Lagos State Government is determined to promote and enforce best practices across the building sector by working closely with developers, contractors, and other stakeholders to ensure compliance and raise awareness about the importance of safety measures.
She also pointed out that the real estate sector has contributed significantly to the growth of Lagos State’s Gross Domestic Product (GDP).
According to Odunuga-Bakare, the sector contributed 5.31% to the state’s GDP in the first quarter of the year 2023.
- “Real estate in Lagos has also displayed great potential to create jobs, bridge housing deficit as well as boost economic growth. This year alone, the budget for affordable housing in Lagos was more than a billion,” she stated.