Real Estate News

“The construction sector has been a very significant contributor to Nigeria’s GDP, adding as much as 3% to national output. Although the sector has been severely affected by macro-economic headwinds in the recent past quarters, the sector still has great potential to contribute significantly more, in the short term, given the government’s current focus on investing in infrastructure as well ...

“Given that the rainy season is bound to generate seasonal flooding in many parts of the country, it is necessary for government and the people to take proactive measures to prevent loss of lives and property, damage to crucial infrastructure, disruption of socio-economic activities and even displacement of people in flooded areas.”- The Guardian Against this background, the warning issued, ...

“Worried by huge figures of housing deficit facing the country, the World Bank and International Development Association, IDA, has set aside $300 million to fast-track provision of  accommodation for the teeming Nigerian population.” –Vanguard The fund, which is to be channelled towards pursuing aggressive development of housing sector in Nigeria, is being facilitated by the Nigeria Housing Finance Programme, NHFP. ...

The Guardian reports that Justice T.A.O Oyekan-Abdullahi has ordered Property Mart Real Estate Investment Limited to stop further construction work on its Grenadine Homes project located at Sangotedo, Lagos. Justice Oyekan-Abdullahi gave the restraining order following a motion on notice filed by Complete Leisure Estate Nigeria Ltd alleging that Property Mart Ltd had trespassed on its parcel of land where ...

“With the recession lingering and hitting hard on real estate sector, many prospective homeowners are dumping the idea of homeownership, while others want to build a simple home that is comfortable and affordable, without going into debt. It is a fact that in most Nigerian cities, the dreams of lower construction costs have once again become a nightmare for a ...

According to Premium Times, more than three million pre-payment meters are to be rolled out under the Federal Government’s intervention programme, Babatunde Fashola, the Minister of Power, disclosed in Lagos on Sunday. The intervention followed the incapacity of Electricity Distribution Companies (DISCOs) to meter all the houses of consumers across the country. Mr. Fashola, who is also the Minister of ...

This Day reports that Bosch, a German multinational engineering and electronics company, has promised to work keenly with players in the nation’s construction industry to enhance quality work in the industry as well as increasing the brand’s market share in Nigeria. This was the take home from a VIP market launch, which took place recently in Lagos with targeted demonstrations ...

“Brighter days may lie around in the corner for prospective homeowners, following plans to introduce a public private partnership initiative that seeks to increase access to housing finance in Nigeria through mortgage guarantee insurance and microfinance scheme.”- All Africa The scheme, ‘My Own Home’ comes as an offshoot of the Nigeria Housing Finance Programme (NHFP) set up by the Federal ...

“Dr Beni Goka, Executive Director, Parliamentary Staff Association of Nigeria (PASAN), National Assembly Chapter, says the association is embarking on construction of 6,000 housing units with local materials for staff in Abuja.”- The News Guru He made this known in an interview with the News Agency of Nigeria on Sunday in Abuja. Goka stressed the need for the government and ...

“The Asset Management Corporation of Nigeria (AMCON) yesterday on an order of a Federal High Court seized multi-billion naira properties in Lagos, Ogun and United Kingdom from three property firms and eight others following an alleged N4,680,343,681.47 bank debt.”- All Africa The assets, including land, houses, cars and generating plants, were seized in execution of an order granted by Justice ...