The occurrence of disputes in various forms of human interactions has
increased in complexity and has assumed a disturbing dimension in recent times. Due to
uncertainty surrounding dispute resolution through litigation, professionals in the
various disciplines are always seeking for alternative and innovative ways through
which risk of disputes that arise in the course of business transactions and professional
activities can be resolved without recourse to litigation. The objective of the study
therefore is to examine the impact of dispute as an emerging risk factor in real estate
business and investment and the adoption of Alternative Dispute Resolution techniques
as innovative approaches to real estate investment and management dispute resolution
thereby mitigating dispute risk impact on real estate investment. Utilising content
analysis of cases in real estate investment sourced from the High Court of Lagos State,
some ADR centres and consultant Estate Surveyors and Valuers in Lagos State, results
showed among others that there were huge loss of investment in real estate, tribal
tensions, discrimination and damaged business relationships when ADR frameworks
were not involved in disputes resolution. The study has recommended among others
that ADR should be enshrined in all real estate management and investment contracts
and that all the stakeholders in real estate business should take advantage of the flexible
multi-level ADR clauses to better the chances of dispute resolution along the real estate
value chain.