Real Estate

Embassy of the People’s Republic of China on Monday refuted allegations that China Civil Engineering Construction Corporation (CCECC) was among companies recently blacklisted by the World Bank. The statement released by the Embassy in Abuja explained that it was another company that was blacklisted. It said the company that was blacklisted violated the World Bank’s Procurement Guidelines during the prequalification ...

The Federal High Court on Monday set aside an interim order for the forfeiture of the properties of Peter Nwaoboshi to the Nigerian government. The judge, Taiwo Taiwo, in his ruling on Monday overruled the earlier order by the same court because “due process of law” had not been followed. The court had made an initial order for the confiscation of 14 ...

The Rivers State Governor, Nyesom Wike has denied demolishing any mosque in the state, describing the information as false, orchestrated by mischief makers to create disaffection in the state. The governor said this on Monday when he visited the location of the alleged mosque that was demolished at Biambo street, off School Road, Rainbow Estate, Obio/Akpor Local Government Area, Rivers ...

About 30-two bedroom flats have been renovated for Senior Non-Commissioned Officers (SNO) in the Nigerian Air Force (NAF), Kaduna. Speaking at the commissioning recently, the Chief of the Air Staff, Air Marshal Sadique Abubakar, noted that within the last four years, between 600 to 700 NAF personnel have been better accommodated. Represented by the Air Officer Commanding (AOC), Air Training ...

In this interview with EDWARD NNACHI, the National President, Real Estate Developers Association of Nigeria(REDAN) and Managing Director, COPEN Group of Companies, Mr. Ugochukwu Chime, talks about the housing crisis in Nigeria, and the need to recapitalise the Federal Mortgage Bank of Nigeria, among other issues  What is your assessment of the current state of the real estate industry in the ...

The Minister of Transportation, Rotimi Amaechi has disclosed that the Lagos Ibadan rail line requires additional funding to enable the construction of over 16 bridges across or under the existing road network in Lagos into Apapa in order to be able to take the project to the seaport. Speaking at Papalanto in Ogun during inspection at the weekend, he explained ...

The Minister of Works and Housing, Mr. Babatunde Fashola, has been urged to pay attention to housing delivery and reconstruction of roads across the country in his second tenure. Stakeholders noted that housing provision, as well as infrastructural development, suffered during the minister’s last tenure due to his focus on power. A former President, Association of Town Planning Consultants of ...

The Lagos State Government (LASG) has commenced the process for the rehabilitation of Maiyegun Road in the Ojo Local Government Area of the state. The road, which is 350 metres by 7.5 metres in dimension, was last year awarded to NTS Nigeria Limited for upgrading. The road project, according to LASG, will take traffic off the Lagos-Badagry Road, by improving ...

In a bid to attain financial stability, many go about searching for proper investments with their income. Real estate is one of the most robust investment options, especially in the long run. Highlighted below are 7 important reasons why you should take advantage of this robust investment option and invest in real estate. It’s as Safe as Houses  “Safe as ...

The newly elected national president of the Nigerian Institute of Building (NIOB), Mr. Kunle Awobodu, has said that the major challenge faced by the construction industry in the country is building collapse. Awobodu said this in Port Harcourt while delivering his acceptance speech. He said the menace of building collapse has created grievous competency doubts on the Nigerian building practitioners ...