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Embrace Green Innovation To Improve Realty Sector, REDAN Tells Developers

BY CHIKA OKEKE, Abuja

As part of efforts to improve efficiency, resilience and long-term value in realty sector, the Real Estate Developers Association of Nigeria ,REDAN, has called on developers to embrace green innovation. 

Green innovation is the use of new products or services that protect the environment and reduce ecological disasters such energy-efficient buildings, renewable energy, sustainable construction materials, water efficiency, waste management and smart technologies. 

President of REDAN, Oba Akintoye Adeoye stated this at a conference organised by REDAN and Mortgage Banking Association of Nigeria ,MBAN, in partnership with the Nigeria Mega Project Expo 2026 in Abuja, with theme: "ESG as a Competitive Advantage: Blended Finance, Green Innovation, and Governance for Nigeria’s Real Estate Future."

Adeoye disclosed that such solutions could reduce operating costs, improve building quality and enhance occupants’ wellbeing.

"We must embrace green innovation. Sustainable real estate should not be viewed as an additional cost; it should increasingly be seen as an investment in efficiency, resilience and long-term value.

"From energy-efficient buildings and renewable energy to sustainable construction materials, water efficiency, waste management, climate-resilient infrastructure and smart technologies, there are enormous opportunities for innovation within Nigeria’s real estate value chain," he added.

The REDAN president harped on the need to strengthen governance in the real estate sector, with emphasis on transparency, accountability, ethical business practices and responsible leadership.

He stated that good governance would build confidence, protect consumers, strengthen investor trust, improve access to finance and enhance the credibility and sustainability of the real estate industry.

Adeoye pleaded with developers to adopt  blended financing structures to unlock investments in the housing and infrastructure sectors, adding that the escalating housing and infrastructure deficit cannot be addressed through conventional financing alone.

Blended finance is a structured approach that mixes public or philanthropic funds with private investment, and also uses non-commercial capital to absorb extra risk or accept lower returns.

The president called for stronger partnership among the government, developers, mortgage institutions, commercial banks, development finance institutions and institutional investors.

He was optimistic that blended finance can combine public, private and development-oriented capital to de-risk investments and improve housing affordability.

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