The Royal Institution of Chartered Surveyors (RICS) Nigeria Group has elected Tayo Odunsi, former Chief Executive Officer of Northcourt Real Estate as its new chairman. The 60-year-old institution draws membership from built environment professionals such as estate surveyors and valuers, quantity surveyors, land surveyors, and project managers. Founded over 150 years ago in the United...
The Building Collapse Prevention Guild has recommended establishing construction laws to tackle building collapses in the country. A partner with the engineering unit at Consol Associates Ltd, Aderonke Oyelami, made the call during a BCPG Ikoyi-Obalende Cell event in Lagos recently. The presentation, titled “Ikoyi in Transition: From Highbrow Residential Scheme to Mixed...
In a bid to tackle Nigeria’s severe housing deficit and stimulate long-term economic growth, the Federal Executive Council (FEC) has approved N250 billion real estate investment fund aimed at providing affordable, long-term mortgages to Nigerians. The initiative was announced by the Minister of Finance, Wale Edun, on Thursday after a FEC meeting presided over by President Bola...
One of the new buzz words in real estate is "rightsizing". Rightsizing is about finding the right size home for where you are in your life - people are searching for the perfect space for their needs. This concept not only applies to your search for personal space, it's also a concept that is being applied to building and city planning. With an aging population, increasing density...
Lagos, often referred to as the commercial hub of Nigeria, is a vibrant city with a bustling real estate market. From the high-end properties in Ikoyi and Victoria Island to the more affordable neighborhoods in the mainland, Lagos offers a diverse range of real estate opportunities. But how well do you really know Lagos real estate? Let's explore some key aspects that define this...
Experts in the mortgage and housing sector of Nigeria’s economy have explained why access to mortgages remains a huge challenge to many home seekers, leading to a persisting housing shortage. According to the experts, the mortgage sector in Nigeria, which is a long-standing pillar for financing home ownership, is struggling under a growing burden of issues that have left many...
The Lagos State Government, under the leadership of Mr. Babajide Sanwo-Olu, will ensure that all ongoing housing projects are built to the best standard in terms of specification and will be completed during his tenure. The Hon. Moruf Akinderu-Fatai, the Commissioner for Housing reiterated this when he led the technical team of the Ministry on a tour of the ongoing LagosHOMS housing...
So you’ve seen your umpteenth Ad with the guy in his neatly pressed button-upped white T-Shirt grinning ear to ear waving his rock-solid no-money-down rags-to-riches real estate investment course for 3 easy payments of a gazillion Naira and now you are thinking, "wow this looks like a great deal, I better get it fast before the special offer expires." You notice how there’s...
The President of the International Real Estate Federation, Nigeria, Lagos Chapter, Akin Opatola, has stated that Nigeria ranks high in the cost of a Certificate of Occupancy. He disclosed this during a press briefing on a World Habitat Day roundtable discussion, themed, “Engaging Youth to Create a Better Urban Future”, in Lagos recently. He said, “The issue of housing...
The Lagos State Government, through the Ministry of Finance, has announced the release of the Year 2024 Land Use Charge (LUC) Bills to all residents and property owners in the State. Property owners and business entities are encouraged to take advantage of a 15% discount on bills paid within 30 days of receiving the Land Use Charge bill. Payments can be made through banks,...