Real Estate News

The Lagos Chamber of Commerce and Industry has expressed concern about the negative impact of the election postponement on businesses and investors’ confidence. The LCCI, in a statement on Sunday, said investors needed to have an idea of the direction of the country’s political and economic governance in order to manage policy and political risks of investments. The President, LCCI, ...

A stable supply of choice homes without the commensurate demand in Nigeria’s high end property market is compelling real estate developers in this segment to drop rates by up to 20 percent. Also, operators in this segment, known for demanding rent in foreign currencies (dollars) now accept naira from prospective customers, this is according to a BusinessDay report. The developers ...

The Federal Government of Nigeria is working to raise the share capital of the Federal Mortgage Bank of Nigeria (FMBN) to N250 billion within the next few months in order to enable it tackle the country’s housing deficit, according to its Managing Director, Gimba Ya’u Kumo. Ya’u Kumo who spoke at a send forth/ welcome dinner organised by the bank ...

After a keen competition to get world-class architectural design for its proposed real estate project, the UACN Property Development Company Plc (UPDC) has eventually selected two firms for its ‘One Prime’ project, to be located within the neighbourhood of Ikoyi, Lagos State. The selection of the duo, James Cubitt and Design Group, emerged after the developer recently organised a pitch ...

‘With Nigeria’s capital expenditure profile put at 24 per cent of recurrent expenditure in 20 14, falling price of crude oil and a high cost of funds for execution of capital projects, the construction industry in Nigeria is obviously under pressure to evolve more time and cost efficient system of construction.” This was the submission of the Managing Director of ...

The Nigerian Institute of Town Planners (NITP) has inaugurated a seven-man committee on land use planning report with terms of reference to prepare a thorough land use analysis survey that will be followed by a map with identified land uses coded in the NITP approved professional colours. The committee members include Badejo Hakeem Olatunji who is the chairman, Mrs. Claudius ...

“THE appellants in the instant case having not discharged the duty the law places on them of demonstrating that the concurrent findings of fact of the two lower courts are perverse cannot, therefore, succeed. Having resolved all the three issues the appellants formulated for the determination of their appeal against them, I find the appeal for that reason devoid of ...

In order to facilitate the establishment of an efficient and viable Real Estate Investment Trust (REIT) regime in the country, experts have urged the authorities to fashion out a new tax regulation that will enhance equitable administration of value in the real estate sector. They also called for an urban planning processes to create an improved enabling environment, which will ...

The President , Council for the Regualtion of Engineering in Nigeria (COREN) Mr kashim Ali, has called for adequate funding and effective monitoring of mortgage financing institutions to ensure that their services are accessible to more Nigerians. COREN president, who was speaking to journalists in Abuja on the state of the housing sector development in Nigeria, noted that so many ...

The Peoples Democratic Party, PDP, in Edo State has raised alarm over what it described as the alleged plot by the state government to sell the Nigerian Army Barracks in Ikpoba Hill, Benin City, due to alleged lack of funds for capital development. State Chairman of the party, Chief Dan Orbih, also described the approval of the 27.5 percent allowance ...