Tag Archives: Real estate sector

A real estate developer, Mr. Babatunde Gbadamosi, has called for the repeal of Land Use Act to allow for freehold ownership system in all states across the federation. Gbadamosi, CEO of Red Bricks Homes, told newsmen on Monday in Lagos that the repeal of the law would help attract the much-needed investment in real estate sector. He said that the ...

There are growing concerns by housing professionals on the possibility of fresh housing crisis in the country should the proposed Value Added Tax (VAT) by the federal government be implemented in 2020. Although government has stated that the process of increasing the VAT rate would involve extensive consultations with state governments and local government authorities, and others in the public ...

Residents who are leveraging on the simplified land registration procedure, an initiative of the Godwin Obaseki-led administration, have commended the governor for setting up the Edo State Geographic Information Service (EDOGIS) agency. They expressed excitement about the new sense of security associated with the process of acquiring landed property in Edo State, which has impacted on the ease of doing ...

Economic activity in Nigeria’s economy slowed down in the second quarter of the year. Data from the National Bureau of Statistics (NBS) revealed that the country’s GDP slowed to 1.94% y/y from a revised growth rate of 2.10% y/y in Q1 2019.  On a half-year basis, real growth in H1 2019 stood at 2.02% y/y, higher than 1.69% for H1 2018. ...

Government at the state and federal levels has been urged to partner with stakeholders in Nigeria’s real estate sector to reduce housing challenge and also tackle unemployment in the country. Making the call in Lagos during the unveiling of a multi-storeyed luxury apartment and office complex jointly built by Arkland Properties and Investment Company Limited and Amlad Group at Eko ...

This is the true life story of a man who used his entire savings to build a house only to move out because of bad construction. The house is a story building with four-bedroom duplex at the front and 5bedroom apartment at the back; built on a plot of land(corner piece). It is situated around the Deeper life headquarters in ...

The latest data from Nigeria’s National Bureau of Statistics showed that the real estate service sector swung back to positive growth and expected to perform better this year. Senior officials of Global Property Partners (GPP) are also upbeat about Nigerian commercial property sector, despite some analysts’ expectation that the market will remain sluggish. They believe that the current economic climate ...

Recent statistics have shown that the Nigerian real estate sector has been suffering setbacks. Out of the ₦15 trillion worth of credit facilities (bank loans) that were given to the private sector in Q4 2018, real estate only got ₦622 billion. This represents just 4% of the total loans/credit. A quick analysis of the 2018 selected banking sector indicators’ report, ...

Going by the improvement in the nation’s microenvironment and the positive projections for 2019, the real estate sector is expected to ride on the back of these and other strides it ought to make, and put in a better performance in the year 2019. Though the sector had been generally sluggish in 2018 because of the lull in the nation’s ...

Right now in the Real Estate sector, there is palpable panic as to what is likely to happen during the 2019 elections. As you read this, many players have narrowed the presidential elections to a straight fight between President Muhammadu Buhari, the APC presidential candidate and Alhaji Atiku Abubakar of the PDP. It is generally believed that whoever emerges between ...