Firm Announces Auction of 150 Properties in Abuja

Real Estate Auction Network has announced auctioning of about 150 properties including commercial and residential houses, and plots of land located in all parts of Abuja.

According to the firm, the auctions will be available for bids next month. With suggested opening bid starting of N5million, the properties, including ones on central locations in the Abuja metropolis is expected to attract many interested buyers in what the executive, Chairman of the Auction Network, Felix Osuji, disclosed.

He described the offer as an outstanding opportunity to own properties in the Federal Capital Territory, adding, “Auctions like this are great opportunities for owner occupants and investors to name their price on properties with great upside potential.”

To Osuji, “Auctions continue to be the number one asset disposition strategy for banks, corporate bodies and individuals all over the world. With registration for the auction already commenced.”

He further said interested bidders and buyers in the auction scheduled for August 20, could view the properties by attending one of the on-site inspections scheduled from July 30 to August 6 and 13, 2016.

Also, Regional Manager of one of the banks involved in the auction, Abubakar Mohammed, noted, “We are using the auction to dispose these properties. This would not only provide buyers with a quick sale but also assure them of that the properties will close.”

Real Estate Auction Network is an asset acquisition and disposal organisation that have worked on auctions with banks, brokers & agents, real estate developers, individuals, REITS, Fortune 500 corporations and others. Meanwhile, out of 64 incidences of building collapse from 2007 to date in six Geopolitical zones, Lagos was having 33, the highest t in the country. It also recorded 178 causalities with 226 injured. Abuja, FCT, is the second with131 deaths, 26 injured, that is, 35.1 percent.

However, North East is the last in history of collapse buildings in the country. Associate Professor, Philip O. Lawal disclosed in Abuja recently.He regretted, “In recent times, the phenomenon of building collapse in Nigeria has been a source of concern to so many stakeholders particularly those associated with the building industry.”

To the Associate Professor, when the incidences of building failure or collapse become incessant, stakeholders’ expectations about the future behaviour of the building industry becomes doubtful. He argued, the industry today has an identity of corrupt practices given that over 50 percent of building failure and collapse are attributable to industry’s professionals’ poor supervisory roles and noon adherence to standards