Amidst the lip service being paid by the government on provision of affordable houses, stakeholders have argued that property prices in real estate may continue to escalate due to rising cost of construction materials. This might be worsened by the Land Use Charge (LUC) law made by Lagos State government, which other states may in no distant time start to…
Notwithstanding that real estate recovery has taken time to gain traction, foreigners are fueling capital injection in Nigeria and other Sub-Saharan Africa countries, with South Africa and United Kingdom investors leading the way. Although, an oversupply of high-end property and limited access to finance have underpinned the market’s slow bounce back, prospects are looking up for the second quarter of…
Stakeholders in the Nigeria’s real estate sector have ignited a new ray of hope in the sector aimed at increasing indigenous participation and mitigating the challenging business climate. The collaborative move initiated by Lagos based indigenous furniture firm, IO Furniture with major players in the real estate firm, led by PWAN Plus Business Concerns Limited was targeted at ensuring growth…
The Nigerian Institute of Architects (NIA) has disclosed that it is working on a Nigerian Affordable Housing project for the common man. Speaking in an interview with LEADERSHIP recently, the president of NIA, Arch Adibe Njoku, who said the project will be piloted by universities, disclosed that the building project will be launched next year. According to him, the project…
While solid economic growth is expected to spur demand for global prime properties in 2018, its pace will be impacted by more stringent cooling measures in most countries, according to the Douglas Elliman/Knight Frank Wealth Report 2018. “The outlook for 2018 is that economic growth will continue to support prices, but performance could be tempered as more central banks start…
Sequel to the successes recorded in previous fair, Anirejuoritse Group Nigeria Limited, T.A.G NIGERIA has commenced plans for its yearly real estate Expo (TAGEXPO) scheduled for New Jersey and DC area of the United States. The event is organized to guide Nigerians in the diaspora to credible real estate developers with property investment that suit their budgets and needs. The…
Fresh moves are being made by the Lagos authorities to restore sanity to the built environment and further curb cases of building collapse and its attendant loss of lives and property in the state. Under the new initiative supervised by the Lagos State Building Control Agency, (LASBCA), the agency is carrying out post construction audit exercise on all existing building…
It is no longer news that Nigeria has a huge housing deficit that experts have put at above 17 million units that would require an annual investment of billions of Naira for the next 10 years to bridge. Yet, there is no coherent housing policy in place to suggest the country is matching towards bridging this housing gap despite having…
Poised to empower young Nigerians in creating wealth and bridging the widening rate of unemployment, a real estate development company, Alpha Mead Development Company (AMDC), a subsidiary of Alpha Mead Group, has re-launched its youth empowerment programme in Lagos known as the 5Star Partners. The programme is a sales network initiated for real estate professionals, who are tired of doing…
Plans are underway by the Nigerian National Petroleum Corporation (NNPC) to invest its over N100 billion worth of unharnessed landed property across the country in the real estate sector. The feasibility of the plan would largely rely on the ability of the group to recover the assets across the country. It would also be a major shift from its initial…
