Dubai housing market slumps with 51% plunge in transaction volume. Once again, the hitherto sizzling Dubai housing market has slumped, leading to as high as 51.8 percent plunge in the volume of transaction and 37.1 percent drop in the value of transaction. For close watchers of the global housing development, this development has significant impact on the world economy as ...

An architect, Mr. Lewis Ali has identified policy inconsistency in the housing industry as the major problem of development in the sector in Nigeria. He said that successive administrations have come up with one policy or the other for the development of the housing sector, but that such administration that formulates the policy never accomplishes it. Ali who disclosed this ...

The Ministry of Finance said in a report last Thursday that China’s fiscal revenue rose 13.9 percent year on year in June, posting its biggest gain this year as property tax payments increased. Government revenue reached 1.53 trillion yuan (US$246 billion) in June, lifting the first-half revenue by 6.6 percent to 7.96 trillion yuan. The revenue gain last month was ...

Lafarge Group and Holcim have successfully completed its $40 billion merger following the successful completion of the merger between Lafarge Group of France and Swiss Company Holcim. The new group to be known as LafargeHolcim will now work towards creating one of the highest performing companies in the building materials industry. The company said in a statement in Lagos on ...

Since 1978, the major legislation regulating land acquisition within the country has been the Land Use Act of 1978 which states that all land in a State is to be held in trust by the State Governor for the benefit of all Nigerians. By law, foreigners may also acquire land wherever it is located in the country from either the ...

The University of Ilorin has appealed to the Federal Government to assist the institution retrieve its mini campus, seized by the Kwara Government. The appeal is contained in a letter dated June 26, signed by the university’s Vice Chancellor, Abdulganiyu Ambali, and addressed to the Permanent Secretary of the Federal Ministry of Education. A copy of the letter was made ...

As the region’s real estate world reflects on the year’s midpoint mark, the Mountain View search giant, Google, occupies an unfamiliar position: That of bit player. Google slows down on real estate in first half of 2015 Google, which has driven so much real estate activity in recent years, has signed no significant leases and made few sizable property acquisition ...

The Peoples Democratic Party’s (PDP) national vice chairman South South, Dr. Cairo Ojougboh has described the centenary city built during President Goodluck Jonathan’s administration as a ‘blueprint for corruption.’ According to WIKI, “Centenary City is an ambitious new project by the Nigerian Government to build a smart city along the same lines of as Dubai, Monaco and Singapore. The city ...

Africa is no longer viewed as a region of long-term economic distress, but is increasingly seen as a continent of opportunity. Africa’s population boom is creating demand for residential property, ranging from mass market affordable housing to high-end luxury properties. In a research by Knight Frank tagged “Knight Frank Africa Report”, it stated that Nigerian real estate will experience rapid ...

Providers of luxury apartments in Nigeria’s high-end neighbourhoods usually advertise the sale or lease of their properties in foreign currencies, especially the US dollar. Banana Island in Lagos is one of such exclusive neighbourhoods where the sale or lease of property is denominated in dollar. The island is the most expensive place in Nigeria and one of the most expensive ...