Lagos woos global developers, promises security, profitable Real Estate Climate

Governor Babajide Sanwo-Olu has renewed Lagos State’s appeal to multinational real estate developers, assuring them of security, transparency and strong institutional support as the state intensifies efforts to deliver inclusive and affordable housing for its rapidly growing population.

Speaking at the 6th Lagos Real Estate Marketplace Conference held at Eko Hotels and Suites, Victoria Island, the governor said Lagos had transitioned from a city of potential to a city of performance, driven by accelerated economic growth and expanding infrastructure.

However, he noted that this growth had also created complex urban challenges that required innovative and collaborative solutions.

The conference, organised by the Lagos State Real Estate Regulatory Authority (LASRERA) under the Office of the Special Adviser to the Governor on Housing, attracted over 2,000 participants, including investors from America, the Middle East and Asia.

Its theme was “Shaping the Future of Lagos Megacity: Infrastructure, Innovation and Affordable Housing.”

Sanwo-Olu stressed that providing dignified and affordable housing remained a central priority of his administration, describing housing as more than shelter, but a foundation for human dignity, social stability and economic productivity.

He said Lagos could not be built on outdated planning assumptions, adding that housing development must be deliberately integrated with transportation, energy, climate resilience and economic opportunity.

According to the governor, the state is investing heavily in enabling infrastructure such as roads, rail, power, water and drainage, noting that housing cannot thrive in isolation from jobs, markets and mobility.

He explained that transport corridors and rail projects were being strategically aligned with housing growth zones to improve accessibility and livability.

Sanwo-Olu defined affordability as homes that residents can live in, pay for and conveniently access, close to their workplaces and family networks.

He said bridging the housing gap would require stronger Public-Private Partnerships, structured finance, land optimisation and demand-led planning, while positioning government as an enabler, regulator and partner rather than the sole provider.

In a direct pitch to investors, the governor said Lagos remained one of Africa’s safest and best-governed investment destinations, assuring both local and international developers that their assets were protected.

He said the state had strengthened its security architecture through technology, intelligence gathering, manpower development and coordinated multi-agency collaboration, insisting that safety, stability and the rule of law were non-negotiable.

He also commended LASRERA for sustaining the annual marketplace, describing it as a platform where policy, capital and ideas converge to drive practical outcomes.

Earlier, the Special Adviser to the Governor on Housing, Barrister Barakat Odunuga-Bakare, said the Lagos Real Estate Marketplace had evolved into an intellectual hub that consistently influenced regulatory reforms and policy shifts in the sector.

She disclosed that the New Tenancy Bill currently before the House of Assembly was one of the tangible outcomes of previous conferences, aimed at balancing landlord-tenant rights and clarifying real estate transactions.

Delivering the keynote lecture, former Lagos State Commissioner for Environment, Dr Muiz Banire, SAN, called for consistency in government vision beyond individual policies and urged strict adherence to the state’s unified master plan.

He also advocated stronger environmental protection laws and enforcement, including the protection of highway setbacks, to ensure a more habitable and sustainable megacity.