Real Estate News

The Federal Road Safety Corps (FRSC) says it is working with other traffic and safety management agencies to mitigate traffic challenges along the Lagos-Ibadan Expressway. The corps also urged road users to be cautious while driving on the road as construction resumes on Tuesday. Mr. Clement Oladele, the Ogun Sector Commander of the FRSC on Tuesday, said that the FRSC ...

There is a cold war currently brewing between the Nigeria Mortgage Refinance Company (NMRC) and housing /mortgage providers over acclaimed total loans disbursements by the former in 2018. No sooner had NMRC, through its Managing Director, Mr. Kehinde Ogundimu, announced that the company refinanced mortgage loans totaling N18 billion as of December 2018, housing stakeholders, comprising developers, real estate practitioners, ...

The plan to relocate the corporate headquarters of the Federal Airports Authority of Nigeria (FAAN) may soon come to fruition as the Federal Government has made budgetary provision of N390m for the completion of the project. This is coming amidst mixed feelings in the aviation industry over the insistence by the government to relocate the headquarters of agency. Sirika had ...

Hoodlums from a yet to be identified group at Idi-Arere/Sakapena area in Ibadan, Oyo State capital in the early hours of Sunday set over 20 houses on fire in what was described as a clash between two rival gangs in the area. The suspected troublemakers whose gang identity remained unknown as at Sunday morning but established that some of the ...

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 ...

In the economic and investment front, the HSBC bank and a Swiss multinational investment bank, UBS’ exited the country; this did not send the right signals to the real estate investors’ community. A report released by HSBC pointed out that investor spend has been affected by the political uncertainties devolving from the 2019 elections, adding that it was closing down ...

Office of the Head of Service of the Federation (OHOSF) is to adopt the rent-to-own housing scheme developed by the Federal Mortgage Bank of Nigeria (FMBN) for allocation of houses under the Federal Integrated Staff Housing (FISH) programme to federal civil servants. The Head of Service of the Federation, Mrs. Winifred Oyo-Ita disclosed this at the public presentation of FISH ...

The President, Nigerian Institute of Building (NIOB), Mr. Kenneth Nduka, says the poor contribution of the construction industry to the country’s Gross Domestic Product should be blamed on corruption. Nduka said the industry’s performance in 2018 was poor when compared with the preceding years, despite its potential to create employment. “There is corruption in virtually every aspect of construction industry ...

The Lagos State Government has expressed worries over the rising number of religious worship centers in residential areas across the state. The Commissioner for the Environment, Mr. Babatunde Durosinmi-Etti, said he had observed with dismay the proliferation of religious worship centers and nite clubs in various residential areas, especially on the Victoria Island and Ikoyi metropolis and called for caution ...

Experts in the real estate industry are divided on how the industry will fare this year, considering certain economic indices that may determine its growth or lack of it. While some feel that there will be marginal growth, especially in the residential sub-sector, others see a bleak year for the industry. There are also some professionals who think that the ...