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Tag Archives: Real estate sector

Gbadamosi seeks repeal of Land Use Act

land use act

A real estate developer, Mr. Babatunde Gbadamosi, has called for the repeal of Land Use Act to allow for freehold ownership system in all states across the federation. Gbadamosi, CEO of Red Bricks Homes, told newsmen on Monday in Lagos that the repeal of the law would help attract the much-needed investment in real estate sector. He said that the ...

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Experts in housing sector show concerns over proposed VAT rate

building collapse

There are growing concerns by housing professionals on the possibility of fresh housing crisis in the country should the proposed Value Added Tax (VAT) by the federal government be implemented in 2020. Although government has stated that the process of increasing the VAT rate would involve extensive consultations with state governments and local government authorities, and others in the public ...

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Edo Residents laud Obaseki over rapid Delivery Of C-Of-Os 

Obaseki

Residents who are leveraging on the simplified land registration procedure, an initiative of the Godwin Obaseki-led administration, have commended the governor for setting up the Edo State Geographic Information Service (EDOGIS) agency. They expressed excitement about the new sense of security associated with the process of acquiring landed property in Edo State, which has impacted on the ease of doing ...

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Nigeria’s GDP decelerates in Q2 2019 to 1.94% y/y

GDP

Economic activity in Nigeria’s economy slowed down in the second quarter of the year. Data from the National Bureau of Statistics (NBS) revealed that the country’s GDP slowed to 1.94% y/y from a revised growth rate of 2.10% y/y in Q1 2019.  On a half-year basis, real growth in H1 2019 stood at 2.02% y/y, higher than 1.69% for H1 2018. ...

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‘Real estate sector can tackle unemployment’

real estate sector

Government at the state and federal levels has been urged to partner with stakeholders in Nigeria’s real estate sector to reduce housing challenge and also tackle unemployment in the country. Making the call in Lagos during the unveiling of a multi-storeyed luxury apartment and office complex jointly built by Arkland Properties and Investment Company Limited and Amlad Group at Eko ...

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How I spent my entire savings on a house I can’t live in

entire savings

This is the true life story of a man who used his entire savings to build a house only to move out because of bad construction. The house is a story building with four-bedroom duplex at the front and 5bedroom apartment at the back; built on a plot of land(corner piece). It is situated around the Deeper life headquarters in ...

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Estate developer boosts sector with N3.8b The Pacific tower in Lagos

housing shortage

The latest data from Nigeria’s National Bureau of Statistics showed that the real estate service sector swung back to positive growth and expected to perform better this year. Senior officials of Global Property Partners (GPP) are also upbeat about Nigerian commercial property sector, despite some analysts’ expectation that the market will remain sluggish. They believe that the current economic climate ...

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Experts optimistic about real estate performance in 2019

real estate

Going by the improvement in the nation’s microenvironment and the positive projections for 2019, the real estate sector is expected to ride on the back of these and other strides it ought to make, and put in a better performance in the year 2019. Though the sector had been generally sluggish in 2018 because of the lull in the nation’s ...

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Experts in real estate sector panic over 2019 elections

2019 elections

Right now in the Real Estate sector, there is palpable panic as to what is likely to happen during the 2019 elections. As you read this, many players have narrowed the presidential elections to a straight fight between President Muhammadu Buhari, the APC presidential candidate and Alhaji Atiku Abubakar of the PDP. It is generally believed that whoever emerges between ...

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