Urban planning plays a crucial role in achieving affordable housing and maintaining the functionality of a city, according to stakeholders in the real estate industry. They emphasize that proper urban planning is essential for creating a sustainable living environment that caters to the needs of all income groups.

Olufemi Oyedele, the Chief Executive Officer of Fame Oyster and Co., firmly believes that urban planning is the key to achieving affordable housing and functional cities. He points out that well-planned cities, following theories like the Concentric Circles Theory of Burgess or Sector Theory of Hoyt, ensure that low to medium-income earners live close to their workplaces. In such cities, houses near industrial areas and central business districts are designed for these income groups, while high-income earners can find luxurious communities in the city suburbs.

Urban planning is also linked to sustainable development and poverty eradication. Oyedele stresses that addressing the housing needs of the less privileged is the first step in breaking the cycle of poverty. By providing housing that shields them from harsh weather conditions, even without luxurious amenities, significant progress can be made. Basic necessities like proper shelter should be met before focusing on higher-quality provisions.

Morenike Babalola, the General Manager of Shelter Initiatives Ltd, echoes the sentiment that urban planning should be viewed as a tool to achieve affordable housing and functional cities. She urges cities to learn from successful examples abroad, where urban planning, zoning, and design have contributed to well-organized and efficient living spaces. Embracing urban planning at all levels and adhering to building codes and standards during construction are essential steps in ensuring a well-structured and sustainable urban environment.

Both stakeholders emphasize that land is a finite resource, and developing infrastructure comes with significant costs. By incorporating urban planning principles, cities can effectively manage their resources and ensure that housing is accessible and affordable for all residents. Taking these measures can lead to thriving cities that provide a high quality of life for everyone, regardless of their income level.