Real Estate News

A Lagos State Special Offences Court sitting in Ikeja has discharged and acquitted a legal practitioner, Kole Bello and three others who were prosecuted by the Lagos State Government over the sale of a dead woman’s property. Justice Oluwatoyin Taiwo discharged the lawyer and other defendants on the ground that the prosecution failed to prove its case against them. The ...

Nigeria lacks clean windows to access International Property Funds says Principal, World Citizen Consulting, Bill Endsley. Endsley stated this at the 2-day event organised by FIABCI International Real Estate Consultant (FIREC) program held in Lagos recently. This year’s FIABCI training on International Norms for Real Estate Investment is tagged Negotiation and multi-stakeholder dialogue, he said. He stated that the idea ...

The Chief Executive Officer, Fesadeb Communications Ltd., Mr. Festus Adebayo, has identified high mortgage interest rate as a major challenge facing the housing sector in the country. Adebayo said in Abuja that at 59, the country was still at a double-digit interest rate. He told the newsmen that the situation made it difficult for the citizens to access loans from ...

The Benin Electricity Distribution Company (BEDC) has said that it is rolling out 190,000 meters for its customers in Edo State in the next two years. BEDC Executive Director, Commercial, Abu Ejoor, who spoke yesterday in Benin, during the media launch of Edo State Meter Asset Provider (MAP) scheme, said within two years a cumulative average of about 10,000 units ...

Residents of Ilasamaja in Oshodi-Isolo Local Council area of Lagos State are sending a save-our-souls message to the state government as flood continues to batter them, and destroy property worth millions of naira. Since the onset of the rainy season, these residents have been on tenterhooks, and their anxiety reaches feverish heights anytime clouds begin to gather ahead of a ...

Delta State Governor, Dr. Ifeanyi Okowa has approved a comprehensive infrastructural audit and mapping of all public primary and secondary schools in the state. Commissioner for Basic and Secondary Education, Mr. Patrick Ukah, who made this known at the weekend said the exercise has become imperative for government to have a critical overview of its academic infrastructure with a view ...

About ten communities in Ilupejun, Awoyaya in Ibeju-Lekki area of Lagos State have commenced legal action against Lekki Gardens Estate Limited, Skye Trustees Limited, and some elders in the communities over the ownership of a land measuring about 200.184 hectares. The battle for the land resonated after about 800 houses and properties in the area were demolished by alleged agents ...

A five-member gang of real estate scammers, who were about to fraudulently lease out someone else’s duplex in Lekki Phase 2 to a house seeker for a sum of N4.5 million have been arrested by the operatives of Rapid Response Squad (RRS) at the point of exchange of money and keys. The names of the suspects are Abolade Oladimeji (43), ...

A United States-based real estate investment firm, Houston EB5, has said it is giving Nigerians the prospect of investing in the US property market. The firm, working with a Nigerian real estate company, 3Invest, is raising capital for its latest development, The Allen, a mixed-use luxury development in Houston, Texas. The Managing Director, Houston EB5, Mr. Acho Azuike, said since ...

Electricity Generation Companies (GenCos), comprising gas-fire and hydro stations, said they released an average of 3,855 megawatt-hour of electricity into the national grid on Wednesday. This is contained in a daily energy report by the Advisory Power Team, Office of the Vice President, and made available in Abuja on Thursday. The report said the electricity sent out by the GenCos ...