Real estate developers in Lagos, under the aegis of the Real Estate Developers Association of Nigeria (REDAN), have condemned the move by the State government to strictly enforce planning regulations and seal off 176 estates that had allegedly flouted approval requirements.
REDAN stated this yesterday, in reaction to a comment by the Director, Public Affairs, Lagos State Ministry of Physical Planning and Urban Development, Mr. Mukaila Sanusi, that the State Government would take action at the expiration of the 21 days given to developers to perfect the estates’ documentation.
REDAN President, Mr. Akintoye Adeoye, told THISDAY, that labelling the estates “illegal” portrayed the Lagos State property market as toxic.
“It sends shock waves and fear to the investing community, particularly those in the diaspora. I want to caution government representatives to choose their words carefully while sending messages to the public.
“In the future, the government must deepen the culture of transparency in their services. There are trust and confidence issues to be addressed.