Real Estate News

“The top three Big Brother Naija finalists, Efe, Bisola and TBOSS, have each been gifted a plot of land by King Andrea Realtors. The latter is a subsidiary of Big Church Group, which is owned by Olakunle Churchill. Mr. Churchill is the estranged husband of Nollywood actress, Tonto Dikeh. The plots of land are located in the Nigerian capital, Abuja. ...

“Everything wrong with Lagos state government’s recent clearance of the riverside community, Otodo Gbame, can be summarised in one sentence – Nigeria does not know how to build houses cheaply.”- The Guardian There is nothing strange about clearing slums and there are very good reasons to do so. President Truman’s 1949 Housing Act provided $1bn in funding to localities across ...

“The growing incidences of building collapse in Nigeria in the last 25 years have assumed a very worrisome dimension as many lives are lost and huge investments wasted.”- Leadership Several causes of building failure have been attributed to either natural or man-made phenomena. Surveys carried out have shown that the use of substandard building materials, poor workmanship, the use of ...

“Some stakeholders have agreed to pool resources to tackle the housing problem headlong. This is by ensuring  improved access to credit facility and reducing development costs for low-income housing.”- The Nation The Federal Mortgage Bank of Nigeria (FMBN), Real Estate Developers Association of Nigeria (REDAN) and a pan-African finance institution, Shelter Afrique have joined forces to create a $2 billion ...

According to The Guardian, the Managing Director of the Nigeria Railway Corporation (NRC) Fidet Okhiria, disclosed this to the News Agency of Nigeria (NAN) yesterday in Lagos and advised those who had encroached on corporation’s land to vacate, to avoid their property being destroyed by bulldozers during construction of Lagos-Ibadan rail. According to Okhiria, those that are due for compensation ...

Kwara State Governor Abdulfatah Ahmed has launched the construction of the N1.5 billion College of Social Sciences and Environmental Studies campus of the state university in Ekiti Local Government. Ahmed said the execution of critical projects was an eloquent testimony that the Infrastructure Development Fund (IFK) model has strengthened the capacity of the government to meet its obligations. The governor ...

Realty Point Limited, a top real estate development company in Lagos celebrates Twelve (12) years in business. The company which was established in 2005 is known for its popular trademarked mantra – ‘Sack Your Landlord!’ – which epitomizes the bulk of her business in the supply side of real estate products & services. With Estates across Lagos, Ogun, Nasarawa and ...

Chief Obiano reports that  Anambra State flagged off the Umueri Airport City Project. It has a model that will accommodate an airport with two runways, an aviation fuel dump, an airport hotel, an industrial business park, an international convention centre as well as a facility for aircraft maintenance. The project is estimated to cost over 2 billion US Dollars. It ...

This Day reports that the real estate sector is expected to record significant turnaround in 2018, the Chief Executive Officer of the Financial Derivatives Company Limited (FDC), Mr. Bismarck Rewane has predicted. Vacancy factor for the sector was estimated to remain high through 2017, just as replacement cost for the sector is currently far in excess of market values Rewane ...

According to The Guardian, in the face of a housing deficit that numbers millions of units, Nigeria is working to tackle affordable housing shortage by improving access to credit and reducing development costs for low-income housing. Easing mortgage access In March the federal government announced it would waive an initial 10% payment on mortgages below N5m ($15,700) administered by the state-owned ...