Real Estate News

“Determined to tackle the menace of erosion, Kogi authorities have launched the Nigeria Erosion and Watershed Project (NEWMAP) in the State.”- The Guardian With several houses already swallowed up by erosion and hundreds of lives lost while properties worth billions went down the drain on account of the menace, the government backed the World Bank’s driven project with N100 million ...

“To excel in estate surveying profession, under-graduates in the field have been challenged to be disciplined, work hard and put maximum integrity into their daily dealings with people. Chairman, Nigerian Institution of Estate Surveyors and Valuers (NIESV) in Plateau State, Fidel Okpanachi Idoko gave the charge during a visit by students and lecturers of the Department of Estate Management of Federal ...

Vanguard reports that the children of a Lagos socialite, late Chief Olatunji Ajisomo Alabi, a.k.a, Lord Rumens, have filed a suit against the Bank of Industry Investment and Trust Company Ltd before a Lagos State High Court, over alleged mismanagement of their father’s N5.6billion estate.  The children who are Babatunde, Oladipo, Subuola, Awojuola, Rukayat, Olukemi and Adeola Alabi, had on ...

“THE Nigeria Institution of Estate Surveyors &Valuers (NIESV) has called on the government to include it in its assets valuation programme.”- The Nation NIESV, Lagos chapter Chairman, Mr. Offiong Samuel Ukpong told The Nation that as a professional body with a mandate for asset valuation, their non-inclusion in the  assets valuation renders the process invalid. He said since the law ...

“INVESTORS in Real Estate Investment Trust, REIT, have received a boost as Stanbic IBTC Holdings Plc has indicated its preparedness to support individuals and businesses interested in long-term investment in the real estate sector. The bank said that in doing so, the industry will play its catalytic role in driving growth and development of the economy.”- Vanguard The bank made ...

Daily Trust reports that the Real Estate Developers Association of Nigeria (REDAN) Tuesday  conveyed a stakeholders meeting in  Abuja  to proffer solutions to the problem of collating data for the real estate and housing sector in Nigeria. Stakeholders in attendance included  directors from the Central Bank of Nigeria, the Federal Ministry of Power Works and Housing, the Federal Mortgage Bank ...

“The Economic and Financial Crimes Commission has seized a hotel allegedly belonging to Mrs. Patience Jonathan, the wife of former President Goodluck Jonathan.” – Signal The anti-graft agency also seized three other properties in Abuja allegedly belonging to Patience. The five-storey hotel is located near Setraco Construction Company, beside Mabushi Kado Expressway. Although the hotel has not been officially valued ...

“A landlord in Cameroon shocked many residents at the weekend when he reportedly grabbed one of his tenants’ freshly prepared pot of chicken soup over his refusal to pay rent. Reports say the tenant had been owing his landlord over six months rent. According to Cameroon-Concord, the incident took place at Bassa neighborhood in Douala, Cameroon. Efforts to placate the ...

“Stakeholders in the housing sector have called on government to route its funds for social housing initiatives through the Federal Mortgage Bank of Nigeria FMBN, which has the experience and capacity of reaching over 4 million Nigerians nationwide through the National Housing Fund NHF. The call was made at the 5th joint meeting of FMBN, Mortgage Banking Association of Nigeria ...

“CHALLENGES of housing in terms of quality and quantity appear to be the same all over the world, but in Nigeria, it is a complex case. Hardly would any event organised by professional bodies in the built environment pass without touching issue of paucity of housing delivery in Nigerian, yet, not much has been achieved.”-Nigerian Tribune But recently, at different ...