Uncertainties in the real estate industry have continued to dampen commercial property market, on the back of a turbulent Nigerian economy.

And this monetary and fiscal polices largely driven by the country’s macroeconomic fundamentals, stoked inflation, slowed economic growth and created a volatile exchange rate.
Posted on 23 Jun 2017 by Bridget Okuma


“With the recession lingering and hitting hard on real estate sector, many prospective homeowners are dumping the idea of homeownership, while others want to build a simple home that is comfortable and affordable, without going into debt.

It is a fact that in most Nigerian cities, the dreams of lower construction costs have once again become a nightmare for a lot of aspiring homeowners, going by fresh increases in the prices of basic building materials.
Posted on 20 Jun 2017 by Bridget Okuma


“Dr Beni Goka, Executive Director, Parliamentary Staff Association of Nigeria (PASAN), National Assembly Chapter, says the association is embarking on construction of 6,000 housing units with local materials for staff in Abuja.”- The News Guru

He made this known in an interview with the News Agency of Nigeria on Sunday in Abuja.
Posted on 19 Jun 2017 by Bridget Okuma


“Brighter days may lie around in the corner for prospective homeowners, following plans to introduce a public private partnership initiative that seeks to increase access to housing finance in Nigeria through mortgage guarantee insurance and microfinance scheme.”- All Africa
Posted on 19 Jun 2017 by Bridget Okuma


In a world of smartphones and mobile Applications, real estate photography has become even more important if you desire to make your property stand out from hundreds of houses listed for sale in Nigeria.

Forbes recommends the use of good quality photos when placing a real estate listing.
Posted on 16 Jun 2017 by Bridget Okuma


Living in a particular house for many years can get boring.
It can get very irritating, when your property remains the same, every single year.

Here are five inexpensive ways to make your house look as good as new.
Posted on 15 Jun 2017 by Bridget Okuma


Don’t be easily fooled by plenty talks, not every real estate agent or developer goes into the business of real estate having their client’s best interest at heart. This article turns searchlights on the dark agents of real estate business.

Real estate transactions involve the leasing, renting, buying or selling of property and is viewed as a very profitable venture.
Unfortunately, scams and frauds are a common feature within the sector.
Posted on 07 Jun 2017 by Bridget Okuma


At the recent meeting in London with the theme “Trends Shifting Real Estate Capital Flows in Sub-Saharan Africa was the African Chapter’s first London’s GRI forum, an official of Ecobank Nigeria Plc, Mr Kunle Osilaja led the discussion on how Africa compares to other emerging global markets.

Leading real estate and infrastructure experts under the aegis of Global Real Estate Institute (GRI) club have identified funding challenges to investment in real estate and proposed options for practitioners in African continent to operate optimally.
Posted on 06 Jun 2017 by Bridget Okuma


Mr. Samuel Ukpong, who made the call in a press conference to mark NIESV week in Lagos, disclosed that the institution has prepared a bill and has forwarded to the Executive and the State’s House of Assembly.

Members of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) have reiterated its call for the establishment of the Office of Valuer-General in all the 36 States.
Posted on 06 Jun 2017 by Bridget Okuma


The Rent now, Pay later programme initiated by PropertyVault Limited tagged –“Rent Actuation” has attracted the partnership of Fortis Microfinance Bank in the provision of rent loans to home seekers with good cashflow but inadequate savings.

Fortis Microfinance Bank Plc. is a leading Nigerian financial institution licensed by the CBN in the year 2007 and has been operating for 10 years with an excellent business record.
Posted on 27 Feb 2017 by Bridget Okuma


This Day reports that the first and largest Made-in-Nigeria Building Material Trade Show, which will hold in Lagos will soon be declared open by the acting President, Prof. Yemi Osinbajo.

“This was made known in a press statement released to newsmen by the organiser, Mrs. Roni Akins, Publisher Global Homes Magazine, a UK based real estate publication that specialises in housing journalism in the UK and Nigeria.
Posted on 21 Feb 2017 by Bridget Okuma


Ekiti State government has said that federal agencies occupying houses belonging to the State Government must comply with the government directive by either buying the properties they are presently occupying or paying rent on the properties.

The government, which reacted to news report that it evicted the Nigeria Security and Civil Defence Corps, (NSCDC) Ekiti State command and other Federal ministries and agencies from their various offices, said;
Posted on 17 Jan 2017 by Bridget Okuma


Governor of Lagos State, Akinwunmi Ambode, on Wednesday, said plans had been concluded to turn Industrial Estate in Sabo, Yaba to an Information and Communication Technology (ICT) hub.

Independent Newspaper reports that Ambode, who made this known during his inspection tour of the estate, described it as “the next Silicon Valley’’.
Posted on 12 Jan 2017 by Bridget Okuma


As a result of the present economic recessing facing the country, some house-owners in the Federal Capital Territory (FCT) have reduced their house rents so that people can afford the houses.

NAN reports Many houses in the FCT have remained unoccupied as many people can no longer afford to pay rents due to the harsh economic situation.
Posted on 11 Jan 2017 by Bridget Okuma


The Federal Government on Friday inaugurated a N13bn mortgage refinancing scheme for federal civil servants.

The Minister of Finance, Mrs Kemi Adeosun while launching the scheme stated that a total of 5,635 civil servants would benefit from the scheme under the first phase.
Posted on 13 Dec 2016 by Bridget Okuma


The commencement of operations by Nigeria mortgage refinance company (NMRC). The disbursement of mortgage refinance proceeds to mortgage lenders have increased liquidity in the sector, experts have said.

NMRC, a fledgling secondary mortgage company in Nigeria, is an initiative of the mortgage banking association of Nigeria (MBAN), federal ministry of finance, the central bank of Nigeria (CBN) and World Bank to drive home ownership.
Posted on 09 Dec 2016 by Bridget Okuma


Already 8,000 Civil Servants has subscribed for affordable housing scheme as ?the Federal Government begins construction of a 3,000 housing units at an Estate located at Life Camp, Abuja.

It made the disclosure at an unveiling ceremony of an estate developer, Brains & Harmmer, at a press briefing by Head of Civil Service of the Federation, Mrs. Winifred Oyo-Ita.
Posted on 07 Dec 2016 by Bridget Okuma


Frontline real estate developer, UACN Property Development Company (UPDC) Plc, last week delivered another residential project in Lagos, The Residences.The newly commissioned project is a milestone towards reducing the huge housing deficit in Nigeria in general and Lagos in particular.

The Residences, located within the former Durban Hotel, now Golden Tulip Festac Hotel, Janet Fajemigbesin Street, Off Festac Link Road, Amuwo Odofin, has a total of 198 units of one and two bedroom apartments on eight floors.
Posted on 05 Dec 2016 by Bridget Okuma


As part of efforts to reduce the effects of the current economic downturn in the country, the Lagos State Government, yesterday, said it has concluded plans to start allocation of houses using the newly-introduced rent-to-own policy.

Vanguard reports that the State’s Commissioner for Housing, Prince Gbolahan Lawal, who disclosed this at a press conference ahead of the launch of the scheme, said the Rent-To-Own and Rental Housing Policies of Governor Akinwunmi Ambode’s administration is aimed at making housing more readily affordable and accessible to Lagosians.
Posted on 02 Dec 2016 by Bridget Okuma


Lagos State Governor, Mr. Akinwunmi Ambode on Monday said his administration has so far injected over 1,000 additional housing units into the State and the schemes are now ready for occupation by interested residents.

Governor Ambode, who stated this during an extensive inspection tour of ongoing projects in the Eastern axis of the State, said the official flag off of the allocation of the housing units would commence on December 9, 2016, while interested residents of the State need not know anybody before applying.
Posted on 30 Nov 2016 by Bridget Okuma


Lagos state government has slashed the prices of its housing units under the Lagos Home Ownership Mortgage Scheme (LagosHoms) to give low and middle income earners to buy into the scheme.

Information available to housing news indicates that the prices of the housing units at Sir Michael Otedeola Housing Estate in Odoragunshin,Epe, have been crashed significantly. There are 336 housing units within the estate, comprising of 180 room and 80 units of two bedroom apartments.
Posted on 30 Nov 2016 by Bridget Okuma


Despite the fact that our citizens would have said ten bad things about the country before they even reflect on one good thing, the nation has been making a lot of progress in some key sectors of the economy over the years. One of such is tourism. This article showcases the top 10 best holiday resorts in Nigeria.

There are many beautiful and breathtaking resorts in Nigeria; places where you can have weekend or holiday get-away or even spend your honeymoon. These places don’t just offer beautiful attractions, but also high class accommodation facilities and excellent hotels meant to transform your holiday into an unforgettable experience.
Posted on 15 Nov 2016 by Bridget Okuma


The 2016 edition of the Refined Investor Series (RIS), promoted by Fine and Country International Realty will hold at the Wheatbaker Hotel, Ikoyi, Lagos next week.

The programme, which is coming on the heels of Fine and Country West Africa’s 8th anniversary in Nigeria, will be chaired by the Managing Director, Standard Chartered Bank, Mrs. Bola Adesola , who will discuss the theme – "Out of the Box" : Unlocking Smart Real Estate Opportunities during a Recession.
Posted on 14 Nov 2016 by Bridget Okuma


Vanguard reports that National President of COREN, Kasim Ali, disclosed this in the position paper presented at the public hearing on the repeal of Federal Roads Maintenance Agency Act N7 LFN 2002 and establishment of the Federal Roads Authority bill, 2016 and National Roads Fund Establishment bill, held at the instance of House Committee on Works, chaired by Toby Okechukwu.
Posted on 08 Nov 2016 by Bridget Okuma


THE LAGOS TENANCY LAW 2011

1.
The Lagos Tenancy Law 2011 does not apply to residential premises owned or operated by an educational institution for its staff and students; this would include boarding houses, hostels, university staff quarters etc.
Posted on 08 Nov 2016 by Bridget Okuma


MTN Foundation (MTNF) has officially kick-started the second stage of its 'What Can We Do Together' development initiative, having received 92,000 entries.

The Guardian reports that to this end, it had commenced verification visits to 1,039 shortlisted communities, out of which a final 200 successful beneficiaries across the six geo-political zones would be impacted by its corporate social responsibility (CSR) effort.

According to The Guardian, MTN Executive, Amina Oyagbola, said: "Part of the campaign promise of the 'What Can We Do Together' initiative is to ensure high-level transparency and communal involvement by carrying the public along through the nomination and selection processes. This is necessary to promote credibility and openness in the initiative. As we speak, all the shortlisted nominators have been contacted to confirm the actual locations of their nominated communities, after which, a final selection of the 200 qualified communities will be conducted."

The Guardian reports that to the foundation’s Executive Secretary, Nonny Ugboma, "the 'What Can We Do Together' initiative is a unique project aimed at putting smiles on the faces of individuals through the provision of some basic amenities that complement government’s efforts at improving the quality of lives in communities across the country."
She noted that in this phase, the foundation would focus on electricity transformers, boreholes, school furniture and medical supply donations to community healthcare centres.

The gesture includes 20 transformers and 20 boreholes to select communities; 80 schools to receive school furniture while 80 primary healthcare centres are to get medical supplies, The Guardian reports.

Source: The Guardian
Posted on 07 Nov 2016 by Bridget Okuma
New Telegraph reports that the federal government, yesterday, urged state governments to pull down structures erected on waterways to prevent flood disasters in their areas.

New Telegraph reports that, a Director of Engineering Hydrology at the Nigeria Hydrological Services (NIHS) Abuja, Clement Nze, gave the order during sensitisation workshop in Abakaliki on ways to prevent flood.

Nze called on those living in flood prone areas to vacate the areas to avoid being swept by the disaster when it occurs.
He said: "We are here in Ebonyi State which is what we call hydrological area 7. Unfortunately, our coming here is a little bit late, but we still feel it is necessary to let them know about the dangers of flooding caused mainly by human activities.

"When people build around water ways, it causes flood. Big men when they acquire two plots of land adjacent to a river, they extend their structures within the river bank, where the river supposed to flow, and it causes flooding. Once there is heavy rainfall, water must find its level, and it has the tendency to pull down the structures built around the water ways."

Source: New Telegraph
Posted on 02 Nov 2016 by Bridget Okuma
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Posted on 28 Oct 2016 by Bridget Okuma
The Federal Government has revealed plans to invest N30 billion in the establishment of an agro-industrial town in the Federal Capital Territory (FCT).

According to The Guardian, the Minister of Agriculture and Rural Development, Audu Ogbeh, said the ministry was working in partnership with Aso Savings and Loans Plc for the development of 15,000 hectares of land in the Kwali Local Council to create a commercial hub for agribusiness in the FCT.
While speaking with journalists in Abuja during a visit to the farm, Ogbeh said the ministry also intended to attract 3,000 youths in Abuja into agriculture, as well as big players in the agribusiness industry, adding that the model would be replicated in all the states.
Posted on 27 Oct 2016 by pvl
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Posted on 27 Oct 2016 by pvl
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