IDEAS home Printed from https://ideas.repec.org/a/bcp/journl/v9y2025issue-4p12-43.html
   My bibliography  Save this article

Exploring Sustainable Real Estate Finance Barriers to Sustainable Development Goals (SDGS) Attainment and Economic Growth

Author

Listed:
  • Sani Inusa Milala

    (Faculty of technology Management and Business, Department of Real Estate and Facilities Management, Universiti Tun Hussein Onn Malaysia, 86400, Parit Raja batu Pahat, Johor Malaysia)

  • Khadijah Binti Md Ariffin

    (Faculty of technology Management and Business, Department of Real Estate and Facilities Management, Universiti Tun Hussein Onn Malaysia, 86400, Parit Raja batu Pahat, Johor Malaysia)

Abstract

The real estate sector plays a crucial role in Nigeria’s economic growth and urban development. However, the attainment of Sustainable Development Goals (SDGs), particularly SDG 11 (sustainable cities and communities), remains a challenge due to barriers in accessing sustainable real estate finance. Limited green financing options, high costs of sustainable building materials, weak policy frameworks, and the low adoption of Environmental, Social, and Governance (ESG) principles hinder the transition to environmentally friendly real estate practices. These barriers negatively impact economic growth, climate resilience, and sustainable urban development, necessitating a comprehensive study to explore solutions. This study aims to investigate the challenges and economic implications of sustainable real estate finance in Nigeria and propose strategic solutions for overcoming these barriers. The study employs a mixed-method approach, utilizing qualitative and quantitative data from reputable databases, policy documents, and industry reports. A thorough literature review and data analysis are conducted to assess the role of financial institutions, government policies, and technological innovations in facilitating green real estate investments. Findings reveal that the lack of financial incentives, inadequate regulatory enforcement, and minimal investor confidence significantly contribute to the slow adoption of sustainable real estate practices. Additionally, integrating climate finance mechanisms and developing innovative funding models can enhance sustainable urban growth. The study highlights the potential of government incentives, public-private partnerships, and technology-driven solutions in overcoming financing challenges. The impact of these findings underscores the need for structural financial reforms and policy enhancements to foster a sustainable real estate sector. implementing targeted solutions, Nigeria can achieve economic stability, increase green investment, and align its real estate industry with global sustainability standards. In conclusion, addressing these challenges through strategic financing models and regulatory improvements will drive long-term urban resilience and economic development in Nigeria.

Suggested Citation

  • Sani Inusa Milala & Khadijah Binti Md Ariffin, 2025. "Exploring Sustainable Real Estate Finance Barriers to Sustainable Development Goals (SDGS) Attainment and Economic Growth," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(4), pages 12-43, April.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-4:p:12-43
    as

    Download full text from publisher

    File URL: https://www.rsisinternational.org/journals/ijriss/Digital-Library/volume-9-issue-4/12-43.pdf
    Download Restriction: no
    File URL: https://rsisinternational.org/journals/ijriss/articles/exploring-sustainable-real-estate-finance-barriers-to-sustainable-development-goals-sdgs-attainment-and-economic-growth/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Zoomers, Annelies & van Noorloos, Femke & Otsuki, Kei & Steel, Griet & van Westen, Guus, 2017. "The Rush for Land in an Urbanizing World: From Land Grabbing Toward Developing Safe, Resilient, and Sustainable Cities and Landscapes," World Development, Elsevier, vol. 92(C), pages 242-252.
    2. Felipe Arias Fogliano de Souza Cunha & Erick Meira & Renato J. Orsato, 2021. "Sustainable finance and investment: Review and research agenda," Business Strategy and the Environment, Wiley Blackwell, vol. 30(8), pages 3821-3838, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ion FRECAUTAN & Andreea NITA (DANILA), 2022. "Who Is Going To Win: The Eu Esg Regulation Or The Rest Of The World? €“ A Critical Review," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 2(2), pages 109-120, December.
    2. Salvatore Monaco, 2025. "The Other Side of Sustainability: Contradictions and Risks in Contemporary Green Innovations," Sustainability, MDPI, vol. 17(10), pages 1-16, May.
    3. María Jesús Segovia‐Vargas & I. Marta Miranda‐García & Freddy Alejandro Oquendo‐Torres, 2023. "Sustainable finance: The role of savings and credit cooperatives in Ecuador," Annals of Public and Cooperative Economics, Wiley Blackwell, vol. 94(3), pages 951-980, September.
    4. Meher Bhagia & Mallika Bose, 2024. "Who owns the city? Neoliberal urbanism and land purchases in Gurgaon, India," Urban Studies, Urban Studies Journal Limited, vol. 61(3), pages 445-461, February.
    5. Christien Klaufus & Paul Van Lindert & Femke Van Noorloos & Griet Steel, 2017. "All-Inclusiveness versus Exclusion: Urban Project Development in Latin America and Africa," Sustainability, MDPI, vol. 9(11), pages 1-15, November.
    6. Evica Delova-Jolevska & Andrej Ilievski & Ljube Jolevski & Ágnes Csiszárik-Kocsir & János Varga, 2024. "The Impact of ESG Risks on the Economic Growth in the Western Balkan Countries," Sustainability, MDPI, vol. 16(19), pages 1-13, September.
    7. Ren, Yi-Shuai & Ma, Chao-Qun & Chen, Xun-Qi & Lei, Yu-Tian & Wang, Yi-Ran, 2023. "Sustainable finance and blockchain: A systematic review and research agenda," Research in International Business and Finance, Elsevier, vol. 64(C).
    8. Mercedes Rubio-Andrés & Santiago Gutiérrez-Broncano & Jorge Linuesa-Langreo & Miguel Ángel Sastre-Castillo, 2025. "Exploring the reality of corporate sustainability strategy and sales performance in entrepreneurial SMEs: the mediating effect of innovation and sustainability performance," International Entrepreneurship and Management Journal, Springer, vol. 21(1), pages 1-34, December.
    9. Wenbing Luo & Ziyan Tian & Shihu Zhong & Qinke Lyu & Mingjun Deng, 2022. "Global Evolution of Research on Sustainable Finance from 2000 to 2021: A Bibliometric Analysis on WoS Database," Sustainability, MDPI, vol. 14(15), pages 1-23, August.
    10. Ju Tjung Liong & Helga Leitner & Eric Sheppard & Suryono Herlambang & Wahyu Astuti, 2020. "Space Grabs: Colonizing the Vertical City," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 44(6), pages 1072-1082, November.
    11. Jianmu Ye & Efifania Dela, 2023. "The Effect of Green Investment and Green Financing on Sustainable Business Performance of Foreign Chemical Industries Operating in Indonesia: The Mediating Role of Corporate Social Responsibility," Sustainability, MDPI, vol. 15(14), pages 1-28, July.
    12. Ehwi, Richmond Juvenile & Mawuli, Divine Asafo, 2021. "‘Landguardism’ in Ghana: Examining public perceptions about the driving factors," Land Use Policy, Elsevier, vol. 109(C).
    13. Salvatore Esposito De Falco & Raffaella Montera & Sabrina Leo & Francesco Laviola & Pietro Vito & Domenico Sardanelli & Gianpaolo Basile & Giulia Nevi & Raffaele Alaia, 2024. "Trends and patterns in ESG research: A bibliometric odyssey and research agenda," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 31(5), pages 3703-3723, September.
    14. Md. Sazib Miyan & Calvin W. H. Cheong & Arshian Sharif & Sahar Afshan, 2024. "Three Decades of Green Finance: The State of the Art and Way Forward," International Journal of Energy Economics and Policy, Econjournals, vol. 14(6), pages 88-105, November.
    15. Mucahid Mustafa Bayrak & Lawal Mohammed Marafa, 2017. "Livelihood Implications and Perceptions of Large Scale Investment in Natural Resources for Conservation and Carbon Sequestration: Empirical Evidence from REDD+ in Vietnam," Sustainability, MDPI, vol. 9(10), pages 1-23, October.
    16. Azadi, Hossein, 2020. "Monitoring land governance: Understanding roots and shoots," Land Use Policy, Elsevier, vol. 94(C).
    17. Jytte Agergaard & Cecilia Tacoli & Griet Steel & Sinne Borby Ørtenblad, 2019. "Revisiting Rural–Urban Transformations and Small Town Development in Sub-Saharan Africa," The European Journal of Development Research, Palgrave Macmillan;European Association of Development Research and Training Institutes (EADI), vol. 31(1), pages 2-11, January.
    18. Waheed Ullah Shah & Ijaz Younis & Mohammad Zoynul Abedin & Xiyu Liu & Layal Isskandarani, 2025. "Innovative spillover strategies between global renewable energy and Islamic stock markets: safe hedging in shocks," Economic Change and Restructuring, Springer, vol. 58(4), pages 1-34, August.
    19. Rui Coelho & Shital Jayantilal & Joao J. Ferreira, 2023. "The impact of social responsibility on corporate financial performance: A systematic literature review," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 30(4), pages 1535-1560, July.
    20. Claudio Boido & Antonio Fasano, 2023. "Mean-variance investing with factor tilting," Risk Management, Palgrave Macmillan, vol. 25(2), pages 1-24, June.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bcp:journl:v:9:y:2025:issue-4:p:12-43. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Dr. Pawan Verma (email available below). General contact details of provider: https://rsisinternational.org/journals/ijriss/ .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.