Real Estate News

Port Harcourt – Developers in Rivers state have lamented the cost of building materials saying that what they are charging as house rent was not commensurate with the cost of constructing an apartment. Reports show that for three years running, the cost of building materials has skyrocketed, thereby reducing the number of developers or those who intend to build personal ...

A federal High Court, Lagos has ordered an interim forfeiture of the multi-billion naira Safetowers Estate located at Ikate, Lekki. The project is being promoted by Safetrust Mortgage Bank Limited and Macbosh Properties Limited. Justice Sule Hassan made the order last week while ruling on the ex-parte application filed by Nkereuwem Anana, counsel to the Economic and Financial Crimes Commission ...

No fewer than five persons were feared dead and property worth millions of naira destroyed on Friday night, as flood wreaked havoc in some parts of Abeokuta, Ogun capital. The downpour, which started around 4 p.m. and stopped by 9 p.m, caused river channels in the capital city to overflow their banks resulting in loss of lives and sweeping away ...

This article is written to enlighten you on all the things that could go wrong, if and when you pick a wrong realtor, and how to avoid it. How bad can it really get if you pick a less than stellar Realtor to represent your interests when selling your home? You likely have no idea what the effects of a ...

According to the Minister of works, Babatunde Raji Fashola, the Federal Mortgage Bank of Nigeria (FMBN) has been mandated to grant zero per cent equity to Nigerians who wish to obtain housing loans not exceeding N5 million. This disclosure was made while he was speaking at the 7th National Council on Lands, Housing, and Urban Development, in Gombe state. He ...

Middle and low income earners in Ikorodu have expressed joy at the completion of the once abandoned Igbogbo/Bayeku housing scheme by the federal mortgage bank of Nigeria. Located in Igbogbo-Bayeku Local Council Development Area of Lagos, the project which was embarked upon by the Federal Mortgage Bank of Nigeria in conjunction with the Federal Ministry of Power, Works and Housing, ...

According to an online report, real estate developers in Nigeria have begun halting construction activities as anxiety and uncertainly about the coming 2019 general elections  continues to build. Although, the Nigerian real estate market has been less influenced by political-spending but more by the general economic standing of the country and people, the recent incident where an incumbent governor was ...

Federal Capital Territory Administration (FCTA) said on Monday that it has initiated programmes under the Public-Private Partnership to address 1.7 million housing deficit in the FCT. Malam Muhammad Bello said at the opening of the 12th Abuja Housing Show in Abuja that this initiative was in line with private sector driven housing policy. The minister said that the Nigerian government had ...

Lagos State Governor Akimwunmi Ambode has appealed for patience and understanding of residents as they experience inconveniences in the construction of roads across the state. Ambode, who spoke while inspecting the progress of work on Oshodi-Abule Egba Bus Rapid Transit (BRT) corridor and construction of roads in Ojokoro, at the weekend, said all hands are on deck to deliver the ...

The Asset Management Corporation of Nigeria says it has taken over Sigma Apartments owned by Sigma Engineering & Construction Limited being promoted by a former Minister of Sports and Social Development, Samaila Sambawa. The takeover followed an order by Justice B.F.M. Nyako of the Federal High Court, Abuja Division, according to a statement by the corporation on Friday, which came ...