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Real Estate News

FEC approves N1.4bn for design of DPR headquarters


The Minister of State for Petroleum Resources, Ibe Kachikwu, disclosed this while briefing State House correspondents after FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, Abuja. Kachikwu said that the contract was awarded to Messers Arteck Practice Limited to design a 12-floor building on a plot which had been allocated to the FCT. According to the ...

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Suspected hoodlums beat journalist to pulp over land dispute

land dispute

A broadcast journalist and former chairman of Radio Kwara chapel of the Nigeria Union of Journalists (NUJ), Alhaji ABDULAHI Adisa-Akodudu was on Thursday attacked and beaten to coma by suspected hoodlums over a land dispute in Ilorin. The incident occurred at lrewolede housing estate along Yidi road in Ilorin when the suspected hoodlums were demolishing two structures on the disputed ...

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School of estate, others advocate to tackle housing deficit

School of Estate

LAGOS, Nigeria, March 28, 2019 A Special Interest Group (SIG) comprising individuals operating in the real estate sector have come together under the aegis of the School of Estate to address the myriads of lingering housing challenges in Nigeria. As part of a triangulation approach for scientific policy work on challenges and opportunities in funding housing development projects in Nigeria, ...

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Homeowners who build on govt land risks property forfeiture – Fayemi warns


ADO-EKITI – Anyone who erects structure illegally on government land will risk losing such property. The Ekiti State Government handed down the warning on Tuesday, noting that some unscrupulous individuals have encroached on land already allotted to public schools. The state government said the affected individuals should be ready to forfeit such illegal structures to government without any compensation. Ayodeji ...

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ICPC arraigned agent for selling Principal’s N20.5m house


The Independent Corrupt Practices and Other Related Offences Commission (ICPC) has arraigned an estate agent, Raymond Ikhazuangbe for allegedly selling a house kept in his care for N20.5 million. The Commission, in a five-count charge before Justice Hassan Babangida, of the High Court of the Federal Capital Territory, Jabi, Abuja, accused Ikhazuangbe of dishonestly selling a property located in Gwarinpa, ...

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Lack of funds stalls linking major cities by rail – FG


The Minister of Transportation Mr. Rotimi Amaechi has said the federal government hasn’t secured the necessary funds to commence the linking of the major cities by rail. The minister also said the FG is willing to welcome investors that will volunteer to muster capital to invest in Nigeria’s railways. Mr. Amaechi disclosed this yesterday during the 2019 Budget Defence before ...

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11Plc renovates 21 classrooms in host community


11Plc, formerly known as Mobil Oil Nigeria Plc, has said it renovated two building structures consisting 21 classrooms at Baptist Primary School, Marine Beach, Apapa Local Government Area, Lagos State, as part of its corporate social responsibility initiatives in its host community. The company said the multimillion-naira infrastructure upgrade was embarked upon as part of its cardinal programme of giving ...

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NSCDC ejects illegal occupants at defunct Nitel office


The Bayelsa Command of the Nigeria Security and Civil Defence Corps (NSCDC) on Wednesday restated its commitment to its core mandate to protect critical national assets. Mr. Pedro Ideba Pedro, Commandant of the NSCDC in Bayelsa, restated the commitment when he led officers and men of the command to evict some illegal occupants at the defunct NITEL building in Yenagoa. ...

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Mortgage rate must be below 10% to spur housing development – Aliyu


The Chairman of a leading property development and management company, Urban Shelter Limited, Malam Ibrahim Aliyu, has said the potential for housing in Nigeria will not be realized until the current mortgage rate is brought down below 10 per cent Malam Aliyu stated this during a courtesy visit on the company in Abuja recently by officials of Media Trust Limited, ...

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Ibadan NSE boss bemoans state of Building Collapse


CHAIRMAN, Nigerian Society of Engineers (NSE), Ibadan branch, Adedamola Falade-Fatila, has bemoaned the rate at which cases of building collapse are being witnessed in the country. Falade-Fatila expressed his displeasure while briefing journalists on the programme of activities lined up for the 2019 engineering week celebration of the society in Ibadan. He noted that reported cases of building collapse had ...

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