Real Estate

To bridge the gap of housing deficits in the wake of economic challenges in Nigeria, a leading firm in property development, Darryl Homes, has disclosed a range of homes and commercial showpieces at affordable rates.

To increase the sector’s contribution to Gross Domestic Product (GDP), the Managing Director, PR Africa International, Adedapo Adelegan, has charged members of the International Real Estate Federation (FIABCI), Nigeria chapter to actively project and market Nigeria’s opportunities in the real estate to the global community.

Following the recent increase in price of fuel, overhead costs are no longer sustainable for businesses, forcing many corporate professionals and organisations to rethink their Commercial Real Estate (CRE) space requirements, and adopt Work-From-Home (WFH) model to stave off cost and maximise profit.

Lagos-based real estate firm, Property World Africa Network (PWAN) has disclosed that it has resolved a six-year land allocation dispute between the firm and some subscribers in the Lekki area, Lagos.

Nigerian engineers have joined 21 others in a global engineering alliance under the Washington Accord (WA), which will promote local expertise in the international stage.

Building planning permit rates have yet again taken a leap in the construction and real estate sector in Lagos, following a review of prices by the state government last month, raising fears among prospective home builders and property developers of even harsher times to come under the Sanwo-Olu administration.

The Africa International Housing Show (AIHS) plans to introduce the Under-40 professionals meetup, tagged “New Generation of Affordable Housing leaders” in this year’s event in Abuja.

In an effort to tackle the recurring problem of building collapse, Lagos authorities have taken proactive measures by demolishing distressed buildings across the state, including a two-storey building in the LSDPC Meiran Estate, which is alleged to be unsuitable for human habitation.

Concerned about fraudulent practices in the real estate sector, the Chief Executive Officer, Luminous Hills Investment Limited, Oluwatosin Aleriwa, has enjoined the government to fashion out policies that would regulate the sector.

Following the Central Bank of Nigeria’s (CBN) new foreign exchange policy, real estate experts are optimistic that the demand for luxury dollar-priced rental properties may rebound.

Experts in the real estate sector have condemned the recent pronouncement by the Lagos House of Assembly to pass new property acquisition and business ownership laws that only favour indigenes of the state.

Following Biden administration’s plan to implement its strategies in Sub-Saharan Africa, especially Nigeria, by rebalancing urban hubs and engaging with partners on urbanisation efforts, the UN-Habitat Officer in charge of Anglophone West Africa, Dr. Omoayena Odunbaku, has urged the Federal Government to integrate urbanisation into national development planning as a cross sectoral driver of growth and transformation.