Real Estate News

The Lagos State Government denied a false reports that some parts of the Ladipo Market in Mushin Local Government Area of the state have been demolished while others have been shut. The Executive Secretary of the local government, Mr. Jide Bello, in a statement, said business activities went on at the Ladipo market unhindered, where the traders carried out their ...

The real estate sector is directly impacted by the new forex rules that ban the sale of dollar to importers of 41 items. The naira has weakened to 230 to the dollar in the parallel market, reflecting the impact of the rules. It affects real estate because iron rods, steel nails and roofing sheets are no longer valid for foreign exchange. ...

The Nigerian real estate sector has in the past five years witnessed an annual average growth rate of 16.10 per- cent buoyed by phenomenal growth of the middle-class, which represents 23 per- cent (about 4m) of the country’s 170 million population, whose estimated purchasing power is valued at $28 billion. The sector in the country has demonstrated an uncommon resilience, ...

In a bid to find lasting solution to leakages in buildings usually caused by plumbing defects that often leads to cracks in houses, Rifeng piping systems has introduced a maintenance free multilayer pipe that allows for a direct fitting straight to the outlets without creating an avenue for leaks in the walls. The five-layer composite pipe made of crossed linked ...

Popular Nollywood actress, Kate Henshaw suffered a huge loss as a result of the fire that engulfed her apartment last week. She has relocated temporarily. It was reported that a part of the house located on Oyibo Adjarho Street in Lekki Phase 1, was damaged by the fire believed to have started in the actress’s living room following the restoration ...

The Facilities Management in Nigeria is developing and becoming a major contributor to the economy, but lack of its recognition is a drawback. The Managing Director, Global Property and Facilities International Ltd, Dr. Muhammed Balogun stated this at this year’s World Facility Management Day and 15th year anniversary of the company held in Lagos recently. He stated that Real Estate ...

In the course of the next few years, investors shall be putting additional 30,000 rooms into Nigerian’s growing hospitality industry which, a couple of years ago, was estimated to be worth $49.9 billion with $203.7 billion in untapped potential  and  $253.5bn market size. By the last count, about 20 hotel groups with 34 brands will be making this happen as ...

Investors, developers and sundry stakeholders in the Nigerian building industry have hailed the introduction of the dry construction system into the industry, saying it holds out solution to, and hope for mass housing with its speed, efficiency and cost-effectiveness in the long run. Apart from cost which is fundamental to any form of housing delivery, most investors and developers avoid ...

The State Security of Service (SSS) has invited the parties, with a view to finding amicable resolution of the controversy surrounding executing a Supreme Court judgment that ordered the Lagos State Government to release of 549 plots of land to the landowners POISED to prevent possible break down of law and order in Ikosi-Ketu Local Council Development Authority (LCDA), Lagos State, ...

The Federal government has promised to drive Lands and Housing reforms to make land readily accessible to Nigerians for the provision of shelter for themselves and their families. Permanent Secretary Federal Ministry of Lands, Housing and Urban Development, Mr. Gorge Ossi who stated this at the 5th Building & Construction Economic Round Table (BCERT 5) at the weekend in Abuja, ...