Real Estate News

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called on its 292 newly inducted associate members to imbibe professionalism in the practice of real estate business. Dr Bolarinde Patunola-Ajayi, the President of NIESV, made the call at the 2017 Associates’ Induction of the institution in Abuja. He said the induction of new members was to beef up the ...

Stanbic IBTC Holdings PLC and other players in Nigeria’s real estate industry are pushing for a long-term strategy for the sector to attract domestic and foreign institutional investments to establish sustainable foundation for the commercial real estate sector to support the nation’s economic growth, development and diversification efforts. At a two-day West Africa Property Investment Summit in Lagos, recently that attracted ...

A Federal High Court in Lagos on Thursday ordered temporary forfeiture of N28, 500, 000 and several houses allegedly belonging to a Director of Accounts under the Lagos State Ministry of Public Works Corporation, Anifowoshe Alade to the Federal Government. The order was sequel to an ex-parte application filed before the court by the Economic and Financial Crimes Commission (EFCC) ...

Lagos – A 22-year-old man, John Kujes, who allegedly stabbed his co-tenant, Tony Jaosu, with an arrow on the shoulder, was on Thursday brought before an Apapa Magistrates’ Court, Lagos. Kujes, a resident of Abule Ado area of Lagos, is facing a charge of assault, to which he pleaded not guilty. The prosecutor, Sgt. Olusegun Kokoye, told the court that ...

…As stakeholders propose affordable housing bill to NASS Experts in the housing sector of the nation’s economy at the weekend called on the Federal Government to introduce subsidy in the sector to enable the country achieve the dream of providing affordable housing for the citizenry. They argued that such measure if applied, would not only help greatly in abridging the ...

As part of the war against tax evasion in Lagos, the Lagos State Internal Revenue Service (LIRS) on Thursday shut 11 hotels, restaurants and event centres over alleged failures to remit their taxes under the Hotel Occupancy and Restaurant Consumption Laws of Lagos State 2009. Mr Seyi Alade, Director, Legal Services of the LIRS, said this after a state-wide tax ...

THE Federal High Court in Lagos yesterday ordered the temporary forfeiture of two penthouses valued at $4.760 million, which allegedly belong to former Petroleum Resources Minister Mrs. Diezani Alison-Madueke. The properties are: Penthouse 21, Building 5, Block C, 11th floor (Bella Vista Estate) Banana Island, Ikoyi, and Penthouse 22, Block B (Admiralty Estate) also in Ikoyi, Lagos. Justice Mojisola Olatoregun ...

The UN migration agency is stepping up the rate at which it flies migrants home from Libya, aiming to evacuate up to 15,000 in the final month of the year. The acceleration of returns is an attempt to ease severe overcrowding in detention centres, where numbers swelled after boat departures for Italy from the smuggling hub of Sabratha were largely ...

Mr Gbolahan Lawal, the Lagos State Commissioner for Housing, has assured residents of the state of government’s commitment to delivering quality and affordable housing in Lagos for all residents. Lawal stated this at the opening of a workshop on “Building an End-End Ecosystem for Affordable Housing,’’ in collaboration with the Nigeria Mortgage Refinance Company(NMRC) Plc and Mortgage Warehouse Funding Ltd. ...

The Asset Management Corporation of Nigeria (AMCON) and Sterling Bank have been accused of the illegal sale of portions of Victory Park Estate belonging to an indigenous real estate development company, Grant Properties Limited (GPL). The portion of land allegedly sold by the Bank was 10 hectares, which was valued at N5b billion at the time of the sale from ...