Real Estate News

Investigations have revealed controversies surround the payment of the N24.56 billion bond raised to ensure the successful implementation of the federal government’s housing monetisation scheme in 2005. The Bond issuance programme, according to documents obtained by Daily Trust, was initiated at the instance of the Federal Government of Nigeria by the current Minister of Finance, Dr Ngozi Okonjo-Iweala 10 years ...

After joining the ranks of JSE-listed property companies in December, Pivotal Property Fund (Pivotal) is growing its exposure outside South Africa, for now focusing on Nigeria. Pivotal announced on Wednesday that it plans to acquire a 37.1% shareholding in an office block development in Lagos, Nigeria, valued at $104 million (R1.2 billion). This will be in partnership with multinational energy ...

A multinational cement company, Lafarge Africa has commenced relocation of no fewer than 1000 people and deities in two communities in Oke-Oko Sekoni community in Ewekoro Local Government area of Ogun State over environmental hazards faced during blasting of limestone The Managing Director, Lafarge Africa (WAPCO Operations), Adepeju Adebanjo disclosed this at the inauguration of housing facilities held at new ...

Real Estate Developer’s Association of Nigeria (REDAN), an agency tasked principally with the responsibility of facilitating the delivery of affordable mass housing in the country. The association has a membership strength of over 1, 500 members and is the brain behind any housing development or initiative that is organized and/or sponsored by the Federal, State & Local Governments, NGOs, private ...

A Federal Capital Territory High Court in Abuja has ordered a former governor of Anambra State, Jim Nwobodo, to vacate his rented home in Maitama, Abuja, over his failure to pay his due rent of about N11m arrears. Justice S. B Belgore ordered Nwobodo to relinquish the property located at 24 Ona Crescent, Plot 768 Cadastral Zone A5, Maitama Abuja, ...

A private property firm, Rock of Ages Properties Ltd in partnership with the Trade Union Congress (TUC) has unveiled plans to develop about 100, 000 housing units for members of the union across the country. The TUC President, Comrade Bala Kaigama said the initiative became important to provide affordable housing for the TUC members. Kaigama spoke during the inspection tour ...

A new deal has been sealed between a cement firm, Messrs United Cement Company of Nigeria (UNICEM) and microfinance bank for the building of 5,000 new housing units in the country. The agreement between UNICEM through its shareholder Lafarge in collaboration with French Development Agency (AFG) provides a long-term credit line of N1 billion to LAPO Microfinance Bank for the ...

The Nigeria Labour Congress (NLC) has implored the governor-elect of Lagos State, Mr Akinwunmi Ambode to consider low cost housing for workers in the state. NLC said this is in order to ameliorate workers plight as well as measure up with the prevailing national minimum wage in the country. “A situation where a worker is forced to pay about N500,000 ...

As we count down the May 29 handover date, the Minister of Lands, Housing and Urban Development, Dr (Mrs) Akon Eyakenyi has called on the newly elected executive of the Real Estate Developers Association of Nigeria (REDAN) to complete on-going projects on schedule. Speaking in her office during a courtesy visit by the association led by its President, Reverend Ugochukwu Chime, ...

The Abuja national secretariat of the Real Estate Developers of Nigeria (REDAN) hosted a team of World Bank officials on Wednesday. The World Bank team comprises of Mr. Michael Wong, Mr. Simon Walley and Mr. Andrej Popovic who flew in from the World Bank headquarters in Washington along with Mrs. Halima Zarma of the Nigeria Country office and were received ...