REDAN Proposes Yearly Certification System for Real Estate Developers

The Real Estate Developers Association of Nigeria (REDAN) has called for the introduction of a Certificate of Professional Good Standing for property developers as part of efforts to improve regulation and accountability in the sector.
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‎REDAN President, Akintoye Adeoye, made the proposal at the National Housing Data Programme Workshop organised by the Federal Ministry of Housing and Urban Development in Abuja.
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‎A copy of his presentation, obtained by journalists on Sunday, outlined measures aimed at strengthening the developers’ registration system and ensuring continuous compliance with professional standards.
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‎Adeoye, who is also the traditional ruler of Okeigbo community in Ondo State, suggested that the certificate should become a compulsory requirement for obtaining and renewing developers’ licences under future regulatory frameworks.
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‎He noted that implementing the policy would require a proper legal and institutional structure, with approval expected from relevant authorities, including the Federal Executive Council and the National Assembly.
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‎According to him, the proposed certificate should go beyond payment of association membership fees, stressing that membership alone does not guarantee adherence to industry regulations.
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‎“Membership alone is not proof of compliance with regulatory standards,” Adeoye said.
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‎He explained that the certificate would help verify developers’ corporate details, ownership information, responsible officers, compliance with professional requirements and adherence to ethical standards.
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‎The REDAN president added that the certification would also assess areas such as continuing professional development, anti-money laundering compliance, professional team requirements, development records, complaints and disciplinary history.
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‎Adeoye further recommended the creation of an Annual Developer Practice Certificate to ensure that developers maintain acceptable professional standards through regular evaluation.
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‎He said professional recognition should not remain permanent after initial registration, adding that developers should demonstrate their competence and compliance every year.
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‎Adeoye said the proposed reforms would reposition the developers’ register into a platform that promotes professionalism, ethical practices, transparency and accountability within Nigeria’s real estate industry.
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‎(NAN)