Real Estate News

In order to check the activities of fakes and unwholesome practices among property developers, the Real Estate Developers Association of Nigeria (REDAN) has developed and launched a new deal aimed at giving credence to the activities of developers within the housing sector. The move, according to REDAN was to curb unwholesome practices by erring members thus promoting standardisation in the ...

A Group of Civil Rights Associations has called for the immediate repeal of the Land Use Act in the country’s constitution saying the Act was impeding the development of real property in the country. The collision of three civil society organisations (CSOs) advocated an amendment of the Nigeria Constitution to exclude the Land Use Act from the document. After a ...

Construction of the Lekki Deep Sea Port has reached almost 50 per cent with the completion of the 1,909m long core of the main breakwater while work on the quay wall and landside infrastructure has reached advanced stages. This significant milestone of the completion of the main breakwater’s core was achieved on Thursday, April 29, 2021. The construction of the ...

Nasarawa State Government has signed a tripartite agreement with Federal Mortgage Bank of Nigeria (FMBN) and the Family Homes Fund (FHF) to build 2,000 houses for low and medium-income workers in the state. The tripartite agreement, which was signed yesterday at a ceremony in the Government House, Lafia, would provide associated financing requirements that would enable workers to purchase the ...

The President of the Nigeria Labour Congress, Ayuba Wabba, has warned the management of the Federal Mortgage Bank of Nigeria to stop building estates for the super-rich with funds deducted from poor workers’ salaries. Wabba stated this on Wednesday at a groundbreaking ceremony for the construction of an estate on an expanse of land acquired in Karshi, Nasarawa State, by ...

Ogun State Governor, Dapo Abiodun, yesterday, turned the sod for the reconstruction of the Atan-Lusada-Agbara Road, with a promise that the road will not be abandoned. The governor also commissioned the 10.25 kilometres Lusada Junction-Igbesa-Ogun Guangdong FTZ Road, a project undertaken via a Public-Private Partnership. At the twin-event, Chairman, Senate Committee on Works, Adamu Ailero, assured the state government that ...

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called on the federal government to pay attention to the high cost of building materials if it truly desires to provide affordable housing for the low and medium-income earners, the less privileged and vulnerable people of Nigeria. The institution also noted that no single cause can be identified to explain ...

Rents across Lagos (Mainland and Island) and Ogun State have increased by over 30% between December 2020 and April 2021. Findings by Nairametrics revealed that while rent had increased by over 30% in some Lagos border towns like Sango-Ota, Arepo, and Magboro, property owners across Yaba, Magodo, Ikoyi, and Lekki axis also inflated their rents by about 33% within the ...

Shoprite – A Nigerian property company will be taking over Shoprite’s local business in Nigeria. Persianas is buying Shoprite’s Nigerian business after the South African retailer decided to retreat from other African markets. Shoprite, with more than 2,300 stores across Africa, is awaiting regulatory approval on the sale of its Nigerian supermarket operation, though no further details about the deal ...

The Ogun State Government has said it will commence the construction of the Agbara-Lusada- Atan Road in two weeks’ time. Governor Dapo Abiodun stated this at the opening ceremony of the 10th Gateway International Trade Fair titled, ‘Transforming Agriculture and Commerce in a Highly Competitive Global Market.’ A statement by the Chief Press Secretary to Abiodun, Mr. Kunle Somorin, said ...