EMERGING GLOBAL BEST PRACTICES IN URBAN REGENERATION: IMPLICATION FOR ESTATE SURVEYORS AND VALUERS IN NIGERIA

Adekunle G. Awolaja and Olurotimi Kemiki

AfRES from African Real Estate Society (AfRES)

Abstract: Urban regeneration is a global long time practice. While many cities in the world have gone ahead to imbibe emerging concepts in urban regeneration with resounding successes, most urban regeneration programmes in Nigeria cannot be said to be in line with global best practices. In Nigeria, Urban regeneration programmes are characterized with challenges such as lack of resettlement plan, increased poverty, low level of awareness, insufficient urban built environment professionals, differences in stakeholders’ interest and lack of infrastructural database (Shuaeeb, 2011). It is within this analytical context that this paper is conceived. This paper was based on the identification of the concepts of innovation hubs (i-hubs) and responsible property investment (RPI) as the global best practice in urban regeneration. It also delves into literatures and studies on urban regeneration practices in Nigeria to ascertain its level to what is obtainable around the world. The basic finding reveals the challenges in the existing urban regeneration practices in the country and suggests the need for the integration of science, technology, engineering, culture, design, media and arts as driving forces for effective urban regeneration practices and policy formulation in Nigeria. Finally, the paper concludes by recommending that Estate Surveyors and Valuers should be in the driver’s seat in the simplementation of iHub urban regeneration and RPI that will lead to achievement of attractive, harmonious and aesthetically pleasing environment that would guarantee environmental sustainability for the present and future generations.

Keywords: Best Practice; Creativity; Estate Surveyors & Valuers; innovation hubs; Urban Regeneration (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2015-09-01
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