Real Estate News

The China Railway Construction Co. (CRCC) has announced that Nigeria has contracted it to work on a rail project that connects Lagos and Kano. The project, which is scheduled to be delivered within 48 months, will cost $6.681 billion. In a press bulletin Thursday, CRCC said the project will contain feeders from Osogbo to Ado-Ekiti. The project’s main line is ...

Minister of Power, Works and Housing Babatunde Raji Fashola has said that the current Buhari administration paid road contractors in the South East more than the previous administration of Goodluck Jonathan. The Minister stated this on Thursday during the inspection of Ikot Ekpene Boarder-Aba-Owerri dualization road, Section I, Phase I. Fashola, while interacting with the contractor handling the project, said ...

Report has it that the Lagos State Governor Akinwunmi Ambode has promised to deliver 14,187 housing units before the next two years, across the state. Meanwhile the governor, who spoke yesterday, through Commissioner for Housing, Prince Gbolahan Lawal, said this would be achieved through a joint venture partnership, under its housing programme tagged: Lagos Affordable Public Housing (LAPH) initiative. Through ...

The Federal Executive Council (FEC) presided over by President Muhammadu Buhari approved $995 million for the reconstruction of phase II of Abuja–Keffi–Akwanga–Lafia–Makurdi road. The Minister of Power, Works and Housing, Babatunde Fashola, revealed this to State House correspondents at the end of the Council’s meeting held at the Council Chamber of the Presidential Villa, Abuja, on Wednesday. He said the ...

An Ebute-Meta Chief Magistrates’ Court, Lagos, has sentenced a property developer, Alhaji Ayobami Oseni, to 2,670 years imprisonment for duping 133 accommodation seekers of N25 million. Chief Magistrate O. O. Olatunji convicted Oseni following his plea of guilty to 267 counts of conspiracy, obtaining under false pretenses and stealing. He sentenced Oseni to 10 years imprisonment with no option of ...

Akwa Ibom State Governor. Udom Emmanuel has flagged off the construction of ring road 3 within Uyo metropolis as part of his commitment to the infrastructural development of the state. Speaking when he commissioned the 1.10 kilometers access road to Atlantic FM and its environs in Uyo, the Governor who restated that infrastructure is the bedrock of his industrialization policy, ...

The minister of transportation, Rotimi Amaechi, on Tuesday, May 15, said that Ado-Ekiti, the Ekiti state capital, will be connected to Lagos-Kano rail line just as he signed a $6.68 billion dollars contract agreement for the Ibadan-Kaduna segment with China Civil Engineering Construction Corporation (CCECC). Amaechi said at the signing ceremony in Abuja that Ado-Ekiti would be connected with a ...

The Managing Director of Alpha Mead Facilities and Management Services Limited, Femi Akintunde, has stated that despite an improvement in macroeconomic fundamentals in the country, that activities in the real estate sector is not responding accordingly. Akintunde, who stated this during the AMF annual Facility Management Roundtable, hinted that he was optimistic that as facilities managers, they can stimulate the ...

Some residents of Nasarawa State have commended the Federal Roads Maintenance Agency (FERMA) for constructing a drainage system for the Kokona-Keffi highway. The residents, who spoke in separate interviews with News Agency of Nigeria (NAN) on Tuesday, said that the importance of the drainage channels in the area could never be overemphasised. A NAN correspondent, who visited Sabo Gida in ...

Mrs. Ibukun Adebayo-Adedayo, a financial adviser, has urged the youths to embrace the mortgage policy to own their homes early in life instead of paying rents for the better part of their lives. She explained that money spent on rent payment could be better channeled in mortgage finance in order to own a home and live a stable and accomplished ...