Real Estate News

Messrs Trustbond Mortgage Bank and Federal Mortgage Bank of Nigeria, in conjunction with The Millard Fuller Foundation are currently promoting a new initiative geared towards delivering affordable housing units for low income earners in the country. Tagged Affordable Housing For Economic Empowerment and development (AHEAD) scheme, the project is targeted at junior staff of organizations as well as informal sector ...

Mr. Dehinde Tunwase has been appointed by the Lagos State Government as the new General Manager for the Lagos state Mortgage board. A statement on Monday by the Public Affairs Officer of the agency, Kayode Abayomi, said the appointment was with immediate effect. The statement added that the move was to show that the state government was not relenting in ...

The Lagos State Police Command has arrested two estate agents for allegedly defrauding one Lucky Obonifua to the tune of N6m. It was learnt that the suspects – Ibukun Samuel, 42, and 47-year-old Olukayode Adebayo, had shown Obonifua a building purportedly for sale in the Ogba area of Lagos. According to punch metro, it was gathered that an agreement was ...

A suspended residential real estate agent has pleaded guilty to swindling his clients out of $2 million. A Victorian court heard Anthony Brancatella, 43, got out off his depth trying to ‘keep the bank off his back’. The former director of McDonald Real Estate in 2014 was investigated after complaints from clients claiming they had not been paid or had ...

Mr. Bismarck Rewane, who is an Economist and Chief Executive Officer of Financial Derivatives Company Limited, has predicted a dynamic real estate market in the country this year. Rewane said the real estate market would be based on economic activities and hinged on effective demand, which would be a function of the government revenue, adding that there would be a ...

Thousands of police officers in the country are enrolled in the Police Housing Scheme which is partly financed by the Federal Mortgage Bank of Nigeria (FMBN) and developed by private firms through the Private Public Partnership (PPP) agreement intended to make them proud owners of homes in cities of their choice. In Enugu, serving officers and men who are beneficiaries ...

The Minister in charge of the Federal Capital Territory, Muhammad Bello, on Saturday opened part of Goodluck Jonathan Expressway in the Central Business District of the capital to ease traffic. NAN reports that before now, the Goodluck Jonathan expressway was known as Inner Southern Expressway (ISEX). Mr. Bello urged the Ministry of Power, Works and Housing to consider the full ...

The Nigeria Institution of Estate Surveyors and Valuers (NIESV) has asked the Lagos State government to stop charging Land Use Charge on capital gains but on income. The association said even in charging income, some incomes are allowable. The institution said these errors have gone unchecked because its members are not involved in the administration of landed matters in the ...

The Minister of ‎Power, Works and Housing, Mr. Babatunde Fashola, SAN has appealed to communities and State governments to take ownership of Federal infrastructure facilities in their localities. The Minister said it was important to prevent disputes or acts of sabotage that could be detrimental to delivery of such projects‎ to the people. The Minister made the call at various ...

The Anambra Government on Thursday sealed-off no fewer than 35 buildings in the industrial town of Nnewi for the refusal of the owners to pay property rate of over N150 million. The News Agency of Nigeria (NAN) reports that the buildings include commercial banks, hotels, business plazas, filling stations, hospitals, residential homes as well as primary and secondary schools. Chinenye ...