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Tag Archives: Housing development

Housing sector : Developers still see gloom despite exiting economic recession

17 million housing deficit

“IN spite of the cheering news that the country is getting out of  economic recession, the bleak outlook of the housing sector of the nation’s economy will remain a major cause for concern for real estate developers and the survival of their businesses in the country.”- Vanguard This is because developers have been churning out housing units in different parts ...

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Financial Sector loans to housing industry yet to pick up

Dr Okonkwo says real estate industry needs financing like others

“The volume of financial packages in the forms of loans and mortgage finances, which Nigerian banks traditionally provide to the country’s housing industry remain very low and yet to pick up from the country’s decent into an economic recession, the Nigerian Institute of Architects (NIA) has indicated.”- This Day According to NIA, though the federal government had insisted that Nigeria ...

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Public housing development: Lagos and Singapore partner

Lagos and Singapore partner in public housing development

According to PM News, the Lagos State Government is partnering with the Singapore Government in public housing development in a bid to bridge the housing deficit in the state which stood at three million. Officials from the Singapore Government, led by Dr. Koh Poh Koon, Senior Minister of Trade and Industry, Ministry of National Development, paid a visit to the ...

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World Bank, IDA commit $300m to housing development

housing problem in Nigeria

“Worried by huge figures of housing deficit facing the country, the World Bank and International Development Association, IDA, has set aside $300 million to fast-track provision of  accommodation for the teeming Nigerian population.” –Vanguard The fund, which is to be channelled towards pursuing aggressive development of housing sector in Nigeria, is being facilitated by the Nigeria Housing Finance Programme, NHFP. ...

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A Brief Review of the Real Estate Industry in Nigeria

Real estate Industry

The real estate industry in Nigeria has come of age albeit it still struggles for a strong foothold. This article talks on how the real estate industry in Nigeria is being overlooked despite its immense potentials. Real Estate connotes an entity consisting of land and buildings on it in which resides some value of economic worth. In other words, it ...

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An Assessment of Housing Challenges in Nigeria

housing deficit probems

Various studies have identified a multiplicity of factors inhibiting effective housing development and delivery in Nigeria. This article assesses housing challenges in Nigeria Housing (Shelter) is unarguably one of the basic necessities of man. It used to be ranked second after food in the hierarchy of man’s needs but recently it has been described as the first and most important ...

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NBRRI makes case for local building materials

NBRRI makes case for local building materials

According to The Nation, the Director-General of Nigerian Building and Road Research Institute (NBRRI), Professor Danladi Matawal, has said using locally-sourced building materials will not only save money for the builder, but can be more environmentally-suited to a particular locality. Matawal, a professor of Civil Engineering, spoke at the 17th Lagos International Housing Fair, which held at the Lagos Airport ...

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Delivering value in facility management in Nigeria

Samuel Ukpong on facility management

“1004 Estates Limited is a wholly indigenous real estate firm that was established by a group of investors to acquire 1004 Estates in Victoria Island, Lagos from the Federal government of Nigeria. The Managing Partner of the organisation, ESV Samuel Ukpong is a seasoned and unassuming professional who is focused on delivering value in the industry with emphasis on living, ...

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Firm, FHA Homes Sign MoU On Housing Development

Unoccupied house in Abuja

FHA Homes Limited has signed a Memorandum of Understanding with Nekonini Business and Properties Limited for the development of 100 housing units in Abuja. According to both organisations, the project is the second phase of the Maccido Estate and is part of efforts to bridge the housing deficit in the country as the first phase of the project, which involved ...

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Ogun Assures Residents of Massive Housing Development

1000 housing units

Ogun State Government has restated its commitment in the provision of more affordable housing units for the people of the State. The General Manager of the State Housing Corporation, Arch. Jumoke Akinwunmi stated this while playing host to a delegation from the West Africa Portland Cement Company (WAPCO) operations, a subsidiary of Lafarge Africa PLC in Abeokuta. Akinwunmi, in a ...

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