Real Estate News

ICT Mall – Lagos State Government on Tuesday denied association with an infrastructural firm, Master Realty International Concept Ltd, supposedly answered to be parading itself as having endorsement to build an ICT specialized shopping center straightforwardly next to the recently assembled Ikeja Bus Terminal. The State’s Commissioner for Physical Planning and Urban Development, Tpl Wasiu Anifowoshe in an announcement said ...

Africa50 has emerged a key player in driving infrastructure investments with commercial rates of return in the region, an effort to bridge the continent’s infrastructure financing gap estimated at $108 billion, after two years operations. The infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, catalysing public sector capital, and mobilising private sector funding, ...

Worried by the state of infrastructure, especially accommodation at the Nigerian Military School (NMS), Zaria, in Kaduna State, the Niger State Government has offered to build 20 rooms hostel accommodation for the 60 years old school. Governor Abubakar Sani Bello made the pledge at the school’s 60th graduation ceremony held, on Saturday, in Zaria. Governor Bello, who is an Old ...

The Federal Capital Territory Administration (FCTA), through the development control department, said that it would soon embark on massive integrity tests on buildings in parts of the Federal Capital Territory (FCT) to ascertain their integrity status. Speaking during the demolition of a three-storey building, under construction at 3rd Avenue in Gwarinpa district, at the weekend, the director, department of development ...

More reactions have continued to trail the decision by the Federal Inland Revenue Service (FIRS) to commence the use of the value of the property housing the offices of companies to generate figures that will be charged as Company Income Tax (CIT). Sometime in 2016, in its drive to increase tax revenue generation, the FIRS started applying the value of ...

In a renewed effort to build public confidence as well as engender soundness and stability in the mortgage banking sub-sector of the Nigerian banking industry, the Central Bank of Nigeria (CBN) has established a Sub-committee on Ethics and Professionalism for Mortgage Bankers. The sub-committee which is a self-regulatory body is the Alternative Dispute Resolution (ADR) Platform/Financial Ombudsman for the mortgage ...

Property Fraud – A 51-year-old man, Hakeem Garba, who allegedly defrauded 300 people of N20 million on pretext of building apartments for them, on Monday appeared before a Yaba Chief Magistrates’ Court, Lagos. Garba is facing a two-count charge of conspiracy and obtaining by false pretences. According to the prosecutor, ASP Roman Unuigbe, the accused committed the offences with three ...

A Pilot feasibility study for the establishment of a mortgage guarantee scheme which provides credit loss protection to lenders in case of borrower default is underway. Tentatively christened Nigeria Mortgage Guarantee Company (NMGC), Central Bank of Nigeria (CBN) is promoting the scheme in collaboration with World Bank and other stakeholder partners under the Nigeria Housing Finance Program (NHFP). The scheme ...

Private sector, Ministries, Departments and Agencies (MDAs) at all levels of government have been called upon to collaborate with the Nigerian Institute of Building (NIOB) to meet housing needs of citizens. Besides, President of NIOB, Mr. Kenneth Nduka, called on governments at all levels to respect and enforce the unique roles of builders in all aspects of building project delivery ...

With less than four weeks to the 27th edition of the Edo National Association Worldwide Convention (ENAW), holding in Toronto, Canada, the Edo State Government is set to parade her achievements in the housing, education and other sectors at the event. The Edo State Governor, Mr. Godwin Obaseki, will lead the state’s delegation to the Toronto convention, which has become ...