Real Estate News

In a bid to increase the housing stock and ease accommodation challenges in Abuja, the Federal Capital Territory Administration (FCTA), has selected private investors to develop 15 additional districts. Under the agreement, the new investors will be provided with a total land area of 3,886 in about 15 districts of the FCT, and a total of 1 million houses would ...

The real estate sector is believed to be a sector which responds fast to the tune of any economy. This invariably means that the sector derives success or failure from the state of the economy. This is what inspired the view of Mr. Chude Obosi, the African President of International Real Estate Federation (FIABCI) who expressed that high end properties ...

Mr. Godwin Alenkhe, Chairman of the Estate, Rent and Commission Agents Association of Nigeria, Lagos state chapter has expressed that the high cost of land transactions is having a negative impact on the real estate sector as Nigerians now invest in foreign properties. He said this in an interview with MAUREEN IHUA-MADUENYI of PUNCH news. When asked how the devaluation ...

The city-state of Monaco is known for the ceaseless extravagance which exists there. There is more to come as the city which serves as playground for the ultra-wealthy will soon be home to the world’s most expensive apartment, rumored to be valued at $400 million. Currently under construction, the pricey “Sky Penthouse” will be located atop the Odeon Tower, the ...

Whilst making effort to combat fraudulent acts trailing the housing scheme over allegation of imposters pretending to be officials of the Ogun state government, saddled with the responsibility of regularising property documents under its Homeowners’ Charter Scheme, the state has called on all property owners to be wary of such fraudsters. The announcement of caution, which came last week at ...

Mr. Jimmy Olayinka Omotosho, a portfolio executive at Broll Nigeria has stated that valuations are widely used and relied upon in financial and other markets, whether for inclusion in financial statements, for regulatory compliance or to support secured lending and transactional activity. This he said at the training forum of the Nigerian Institution of Estate Surveyors and Valuers, NIESV Lagos ...

The Redeemed Christian Church of God, RCCG has commissioned a N2.2 million storm-water drainage system the church donated to the Langbasa Community in Eti-Osa Local Government Area of Lagos State. The project represented the response of RCCG to the outcry of the community which has long suffered uncontrolled flooding with the associated health and environmental consequences. The community had solicited ...

Improving on efforts to deliver more affordable housing units and reducing the housing deficit in the country, the Federal Government of Nigeria has taken a giant step by collaborating with an estate development agency. The Federal Government of Nigeria and BASAP Ventures International Limited/ JS Neoplans & Artemis Angel Global Limited on Tuesday signed a Memorandum of Understanding for the ...

The Lagos State government last week, reaffirmed its resolve to complete the massive Lagos-Badagry expressway project despite the delay in completing the second phase of the ongoing N220 billion expressway expansion. But there are indications that the project would not be delivered by the Babatunde Fashola administration which fixed last month for the completion of the second phase of the ...

Expectations are high that Nigeria’s mortgage market which has, for too long, suffered slow growth, will experience a boom when the Nigerian Mortgage Refinance Company (NMRC), a private sector-led secondary mortgage market, starts refinancing more mortgages. The company, which launched 10,000 mortgages last year with an initial target of creating 200,000 mortgages, disclosed recently its plan to refinance one million ...