ilemi

On 17th October, 2025, ilemi's CEO spoke at the REDA conference in Lagos. REDA is the Real Estate Discussions and Awards conference, and is one of the industry leading events for Real Estate professionals.

At this year’s Real Estate Discussions and Awards (REDA), the theme “Back to Basics” resonated deeply across conversations, panels, and networking sessions. In an industry often driven by projections and perceptions, REDA 2025 called for a return to fundamentals; trust, transparency, and collaboration. And at the heart of this return lies one critical enabler: data sharing.

The Case for Data Sharing

Real estate thrives on information; market trends, land records, construction costs, rental yields, and buyer behaviour. Yet, Nigeria’s property market remains largely opaque. Developers, investors, and regulators often operate with fragmented insights, leading to inefficiencies, inflated risks, and misaligned expectations.

Data is the foundation of informed decision-making. When shared responsibly across the ecosystem, it enables:

Accurate market forecasting: Developers can identify real demand rather than build on speculation.
Smarter investment flows: Investors can assess risks and opportunities with better clarity.
Policy effectiveness: Regulators and planners can design policies grounded in real-time evidence.
Consumer confidence: Buyers and tenants gain transparency on pricing and quality, building trust in the sector.

As one speaker at REDA aptly noted, “Without shared data, every stakeholder builds in the dark, and we all pay for the cost of inefficiency.”

Challenges to Overcome

Despite its clear benefits, data sharing in Nigeria’s real estate space faces several hurdles:

Fragmented systems: Data exists across multiple unlinked sources—surveyors, estate agents, land registries, and banks—often in non-digital formats.
Trust deficit: Many players guard their information as proprietary assets, fearing competition or misuse.
Lack of standardisation: Even when data exists, inconsistencies in format and accuracy limit interoperability.
Regulatory gaps: The absence of clear frameworks around data ownership, privacy, and sharing hinders collaboration.

These challenges reflect a broader need for cultural and structural change, one that encourages collective growth over isolated advantage.

Opportunities for a Smarter Future

Despite the barriers, REDA 2025 also spotlighted a growing optimism. Several innovations and emerging practices signal a shift towards a more data-driven ecosystem:

Proptech collaboration: Startups are building digital platforms for property listings, valuation, and market analytics, laying the groundwork for shared insights.
Digitisation of land records: State governments are gradually embracing GIS and e-registry systems to improve transparency and access.
Cross-sector partnerships: Banks, developers, and technology firms are beginning to co-create solutions that leverage shared data responsibly.
Education and capacity building: Industry bodies are emphasising data literacy, helping professionals understand how to collect, interpret, and use information ethically.

As one panelist summarised, “The future of real estate in Nigeria will belong to those who can turn information into insight, and insight into impact.”

Back to Basics, But Forward with Data

Going “back to basics” in real estate doesn’t mean returning to old ways, it means reconnecting with the fundamental principles that make markets thrive: openness, accuracy, and trust.

By fostering a culture of data sharing, Nigeria’s real estate industry can reduce friction, unlock investment, and ultimately deliver housing and infrastructure solutions that match real needs.

The call from REDA 2025 is clear: Data is no longer a competitive secret; it’s the shared language of progress.