Real Estate News

“Minister of Power, Works and Housing, Babatunde Raji Fashola, has warned electricity distribution companies to desist from estimated billing, noting that, “The Discos have the obligation to meter their customers.”- PM News ”They must provide them with meters for effective metering before charging them.” The minister spoke in Kano during the 18th monthly power sector and stakeholders meeting. He said ...

The Nation reports that in Ado-Ekiti, Ekiti State Chief Magistrates’ Court, has remanded a 31-year-old man, Lamidi Alaba, in prison custody for alleged N350,000 land fraud. Police prosecutor Caleb Leranmo told the court the accused committed the offence on June 23 at Ajebamidele in Ado-Ekiti. He alleged the accused obtained N350,000 from Falana John under the pretext of having a ...

The award-winning African Real Estate & Infrastructure Summit comes to Gauteng in October to gather leading built environment and property professionals, architects, project developers, investors, town planners, and city and municipal managers from all over the continent to focus on “Developing Future African Cities”. “Over the next 20 years, growth in Africa’s urban population will increase the demand for more infrastructure, including ...

“To facilitate the return of about two million Internally Displaced People (IDPs) in Borno State, the State Government has announced that it is completing the “reconstruction and renovations” of 32, 290 housing units in seven affected council areas of the state.”- The Guardian The local councils include; Bama, Gwoza, Konduga, Damboa, Kaga, Chibok and Mobbar, a border council area with ...

“There is a ray of hope for prospective land allotees and concessionaire under the Federal Housing Authority (FHA) FESTAC Town Phase II project, following Appeal Court ruling in favour of FHA on the 1,000 hectares property.” – The Guardian The authority and the Amuwo community have been in a running legal battle on whether due diligence was followed on the Land acquisition ...

“Skyscrapers in Hong Kong are the most expensive commercial real estate in the world, according to new analysis using rental values and yields.”- The Guardian Pricing for skyscrapers in Hong Kong has reached $8,000 per square foot, over 60per cent higher than tall buildings in Tokyo at $4,900 per square foot, according to the inaugural active capital report from international ...

PM News reports that a family in Ogun State, Southwest Nigeria has petitioned Governor Ibikunle Amosun over an alleged forceful eviction from its expanse of land by a popular land grabber in the area. The family, Owuyo Elemuren, claimed that from time immemorial according to the native law and customs, was the owner of the large expanse of land at ...

“Building and Construction sector can help stimulate the economy and generate employment on a massive scale, the surveyors have said. “- Daily Trust The Quantity Surveyors Registration Board of Nigeria, QSRBN, stated this  at the 7th Building and Construction Economic Roundtable, BCERT7, held recently in Abuja. The round table was organized to generate ideas from stakeholders in the industry and ...

The Nation reports that Women of Nsude community in Udi Local Government Area of Enugu State have staged a peaceful protest over an alleged forceful acquisition of ancestral land at Amozibe and Umuez]ani villages of the community. The women held aloft placards with different inscriptions such as, “This land does not belong to Ifueke Okweuwani, “Government, please, leave our land, “This ...

“Nigeria’s biggest shopping malls are sitting half empty, as they are still suffering from the impact of the country’s first recession in 29 years. Rising unemployment and inflation rates have shown in significant decline in footfalls in the big malls, leading to high vacancy rates, a half year report on the performance of the real estate market has shown.”- Business ...