Why developers must collaborate before the system collapses

BY CHUDI KALU

The recent wave of mass demolitions across some Nigerian states is more than a policy enforcement issue; it is a signal. A signal that our industry lacks structure, unity, and a credible ecosystem. The truth is: Nigeria’s biggest real estate asset isn’t land, it’s the number of developers we have.

But every year, we lose some of our best minds and most visionary developers, not because they failed, but because the system failed them. Nigeria’s mortgage structure isn’t broken because people can’t afford homes.

It is broken because there is no credible, interconnected system that links verified developers, real-time project data, and financial institutions under a transparent, risk-managed framework.

– Banks don’t trust developers.
– Developers don’t trust the system.
– And homebuyers are left stranded between hope and bureaucracy.

Recently, I was privileged to share at a strategic session on “Fixing Nigeria’s Mortgage System,” a discussion centred on how we can encourage over 1,000,000 families to own their homes with ease.

In that session, I highlighted three key pillars that can redefine how housing finance works in Nigeria:

1. Developer Mortgage Network (DMN)

A collaborative alliance of credible developers working under shared standards — aligning documentation, project verification, and title integrity into one trusted ecosystem.

The goal is simple: to build developer credibility that financial institutions can confidently underwrite. When developers speak with one credible voice, banks listen. When data is transparent, trust grows.

2. Developer Credit Pool (DCP)

A contribution-based fund created by developers, serving as a guarantee and liquidity backbone for the mortgage system. This pool strengthens developers’ financial base, provides risk assurance for lenders, and ensures steady funding for buyers transitioning from rent to ownership.

3. Mortgage Exchange (DMX)

A transparent digital infrastructure that connects verified projects, qualified buyers, and lending institutions in real time. With it, developers, banks, and homebuyers operate on a single trust platform, reducing bottlenecks and enabling faster, data-driven mortgage approvals.

These three pillars… collaboration, capital, and technology are not theories. They are the practical foundation for building a sustainable mortgage system that works for the everyday Nigerian.

If we align as developers, standardise our processes, and embrace transparency, we can unlock the kind of confidence that attracts both local and international funding and ultimately make homeownership accessible to millions.

It starts with structure. It grows with collaboration. And it scales through technology.

Chudi Kalu is a real estate expert and Chairman of Arkbridge Integrated Limited. He writes from Lagos