The Real Estate Developers Association of Nigeria (REDAN) is the principal agency and umbrella body of the organized private sector (public and private) responsible for housing development in Nigeria, having been conferred with official recognition by the Federal Government of Nigeria since November 2002.
Since its formation about a decade ago, the association has gained increased credibility and prestige. With the membership strength of over 2,000 members, the association is capable of meeting the expectations of all its stakeholders, and serving as an effective pressure group that will drive through legislation aimed at enhancing the enabling environment for mass housing provision at the National Assembly; contribute to and reshape the housing finance policies of the: Central Bank of Nigeria, Federal Mortgage Bank of Nigeria, Primary Mortgage Banks and Commercial banks, the Nigeria Mortgage Refinance Company; expedite the much needed reform in the mortgage finance sector, and thus promote the business interests of its members.
REDAN is the first port of call for the Federal, State and Local Governments, NGOs, and private establishments, as well as international partners and investors who wish to draw up a housing programme or participate in housing development in Nigeria.
REDAN collaborates and cooperates with all complementary institutions and organizations in the Housing and Real Estate Development Industry. It works in close concert with the Federal Ministry Power, Works and Housing; which has since assigned a fully functional desk for REDAN activities. The ministry is the key provider of land, from the articulated National Land Bank to facilitate REDAN sponsored projects.
The Federal Mortgage Bank (FMBN) constitute about all that presently exist in the nation’s secondary mortgage, funding both developers and PMIs. REDAN is currently striving to expand this market through the federal capital market and foreign sources to ensure steady and hitch free financing towards the actualization of mass housing delivery for Nigerians.