Real Estate News

A late night fire on Tuesday ravaged parts of the popular Oba Lipede market and shopping mall located in Kuto area of Abeokuta, Ogun State capital, destroying 16 shops and goods worth millions of naira. The fire started at about 10.00p.m. after all shops had closed. The cause of the blaze was not known as at the time of this ...

The housing sector presents great opportunities for the realization of the youth employment objectives of the Muhammadu Buhari administration, Managing Director of the Authority, Professor Mohammed Al-Amin has said. Professor Al-Amin made this known in Abuja while receiving the Exemplary Leadership of Excellence Award conferred on him by the Arewa Youth Parliament. He said the sector had about 78 housing ...

The National Insurance Commission (NAICOM) and the Federal Mortgage Bank of Nigeria (FMBN) have agreed to collaborate to insure all mortgages in the country. The partnership, if implemented, is expected to deepen insurance penetration and provide the much needed funds required by the National Housing Fund (NHF) to enable it bridge the country’s housing deficit. To achieve this, both regulatory ...

Minister for Works, Housing and Power, Babatunde Fashola has called for a review in the way Nigerians pay two years house rent whenever they are seeking to get an apartment. He stated this while speaking at a press conference in Abuja recently “The way we collect rent is something that must change. If we are collecting two years rent in ...

Mrs. Winifred Oyo-Ita, Acting Head of the Civil Service of the Federal (HOS), says Federal Government is poised to address the housing needs of civil servants in the country. She stated this while inaugurating an 11-Man Committee of the Federal Integrated Staff Housing (FISH) Programme in Abuja on Monday. “Civil servants deserve quality housing estates like their counterparts in the ...

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) has expressed displeasure at the low rate of housing development in the country, urging government to make deliberate efforts to house Nigerians because of its socio-economic advantages. Members of the various faculties of the institution discussed areas the built environment that they want the administration of President Muhammadu Buhari to intervene ...

Festival Mall built at Amuwo Odofin in Lagos has been officially inaugurated by the Lagos State Governor, Mr. Akinwunmi Ambode. The mall was built by First Festival Mall Limited, a JV company between UPDC Plc., and Africa Capital Alliance and UPDC Real Estate Investment Trust. The mall, which construction works began in May 2013 and concluded in November this year, ...

Rivers State Governor Barr Nyesom Wike has emphasized that a New Garden City of Port Harcourt will emerge at the end of the urban renewal programme of his administration. Wike stated this while speaking at the Inauguration Dinner of the 26th President of the Nigerian Institute of Architects. The governor who was represented by his Deputy Dr. Ipalibo Harry Banigo ...

Investors interested in the ordinary shares of Nigeria Mortgage Refinance Company (NMRC) Plc now have opportunity to buy into Nigeria’s first and only mortgage refinancing company with the listing of the company on the NASD OTC Plc. The NASD is an over-the-counter (OTC) platform that trades on unlisted securities. It is licensed by Securities and Exchange Commission (SEC). The NASD ...

Lamenting over the rate of abandoned projects’ throughout the federation, surveyors, under the aegis of Nigerian Institution of Estate surveyors and Valuers (NIESV) Board of Faculty, at its meeting last week, said the government of Mohammadu Buhari should make a difference and ensure delivery of all major projects. In their opinion, proper valuation of projects is sine-qua-non to effective implementation. ...