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Real Estate and Vision 2020

With 2020 half a decade away, the Nigerian Real Estate Sector should pin faith on the great white hope of landmark tour de force from almost all facets of human avocation in 2020 as promised by the GEJ administration, which predicts that Nigerian should be among the 20 biggest economies in the world five years from now, if Pigs begin ...

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Economy: High end properties struggle for tenants

The real estate sector is believed to be a sector which responds fast to the tune of any economy. This invariably means that the sector derives success or failure from the state of the economy. This is what inspired the view of Mr. Chude Obosi, the African President of International Real Estate Federation (FIABCI) who expressed that high end properties ...

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Nigerians now prefer to invest in foreign properties

Mr. Godwin Alenkhe, Chairman of the Estate, Rent and Commission Agents Association of Nigeria, Lagos state chapter has expressed that the high cost of land transactions is having a negative impact on the real estate sector as Nigerians now invest in foreign properties. He said this in an interview with MAUREEN IHUA-MADUENYI of PUNCH news. When asked how the devaluation ...

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NMRC resurgence sparks expectations of Market Boom

Expectations are high that Nigeria’s mortgage market which has, for too long, suffered slow growth, will experience a boom when the Nigerian Mortgage Refinance Company (NMRC), a private sector-led secondary mortgage market, starts refinancing more mortgages. The company, which launched 10,000 mortgages last year with an initial target of creating 200,000 mortgages, disclosed recently its plan to refinance one million ...

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China-Nigeria trade volume now up to N38trn

China Partners Nigeria on Housing, Infrastructure, Others - NREH

The consul-general of the People’s Republic of China, Liu Kan, has said that the volume of trade between Nigeria and China in 2014 was about N38.01 trillion ($18.1 billion). Liu said that there was relative increase in the exchange of goods and services in the year over the 2013 transactions. “Today, Nigeria is China’s third major export destination in Africa ...

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Investors identify opportunities in Nigeria’s real estate sector at $400bn

The housing deficit in Nigeria, estimated at 17 million units has created immense opportunities in the country’s real estate sector, making it a preferred destination for local and foreign investors. The middle to the lower-middle class market alone needs about four million housing units, representing about 20-25 percent of the deficit and Richard Nyong, CEO of Lekki Gardens Limited, estimates ...

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How NIPC aids foreign investment in Nigeria

The recent drop in global crude oil price and the persistent efforts of the Federal Government of Nigeria to diversify her economy and move away from overreliance on the oil and gas sector have made Nigeria a fertile ground for investments. In spite of the attempts of both Government and indigenous companies, the telecommunication, energy, tourism and hospitality, agriculture, security, ...

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HOUSING: FMBN approves mortgage loan for RSL

Resort Savings and Loans Plc says it has secured the Federal Mortgage Bank of Nigeria’s approval for N1.5bn mortgages for more than 125 beneficiaries under the National Housing Fund Scheme. According to the mortgage bank, this comes amid the struggle by the nation to tackle the challenge of providing affordable housing for its citizens. A statement from the company quoted ...

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Upgraded Lagos City Mall attracts high profile tenants

As the upgrading of The City Mall, Onikan, nears completion, high profile companies are already taking tenancy at the Mall. Among the newest tenants are Genesis Cinemas, a leading Nigerian cinema brand, and Playzone, a fast growing family entertainment brand in Nigeria. Both companies recently signed a contract with Ibukun Efuntayo & Company, the property manager of The City Mall, ...

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Election postponement to have adverse effect on investors – LCCI

The Lagos Chamber of Commerce and Industry has expressed concern about the negative impact of the election postponement on businesses and investors’ confidence. The LCCI, in a statement on Sunday, said investors needed to have an idea of the direction of the country’s political and economic governance in order to manage policy and political risks of investments. The President, LCCI, ...

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