Real Estate

Construction work will begin in two weeks’ time on “Opebi Mews,” a residential estate that is sprouting on an 8,500-square metre expanse of land along Salvation Street by Opebi in Ikeja, Lagos. Estimated to gulp about N600 million upon completion by mid-2014, Opebi Mews will feature 24 units of four-bedroom semi-detached duplexes on three floors. Eighteen of the units are ...

Minanuel Investment Limited, developer of the Minanuel Estate, Goza, Lugbe 1 Extension in Abuja that was recently demolished, has demanded for an apology as well as compensation from the authorities. The firm, through its lawyer, Femi Falana (SAN), submitted that the demolition of the 372 housing units by the Federal Capital Development Authority (FCDA) through self-help cannot be justified under ...

Nigeria and four other countries have been pencilled for the initial launch of a scheme aimed at enabling some 2 million people worldwide to have access to affordable and sustainable housing between now and 2020. Courtesy of cement maker, Lafarge, the microfinance programme for affordable housing is targeted at people in emerging markets with low purchasing power to help them ...

The good times are coming to Ado-Ekiti, the Ekiti State capital city, where a heptarchy of initiatives is set to change the face of the emerging urban centre. Christened “Legacy Projects,” the schemes are designed to advance development and leave a lasting legacy in the state. The projects are: Government House (to be completed in 18 months), Governor’s Office (to ...

Some fundamental legal issues regarding the construction of the Eko Atlantic City as well as the veil of secrecy surrounding the Environmental Impact Assessment (EIA) report have come to the fore, just as key players continue to advance contradictory positions regarding the project. The real story is unfolding on the heels of glaring inconsistencies in the positions being taken by ...

A spate of development initiatives were brought to the fore last week as Governor Kayode Fayemi of Ekiti State marked his second year in office. While numerous projects scattered far and wide within the state were formally completed, several others were likewise officially initiated. In what seemed like a busy week that commenced on Tuesday – and even continues today ...

In the bid to ensure that its products are affordable, bigwig property developer, the Lagos-based Messrs Propertymart Real Estate Investment Limited, has disclosed that blocks of luxury flats will be built at the highbrow “Grenadines Home Lokogoma” in Abuja. The estate will feature five three-storey blocks that will house 84 dwelling units of three-bedroom ensuite luxury flats. The blocks will ...

It is no longer business as usual at Propertymart Real Estate Investment Limited, where home seekers now no longer have to wait till after making full payment to become bona-fide property owners. Hitherto, land in the firm’s “City Park Estate 1” could be purchased via the allocation of plots to subscribers after the payment of the entire value of the ...

Roland Igbinoba of the Pison Housing Company says that this year’s International Housing Finance Workshop (IHFW) holding this week in Abuja will provide stakeholders with a complete understanding of the real estate and housing market in the country. How, and what will make this year’s IHFW different? The IHFW does not only focus on one or few segments of the ...

By 3.00 am last Wednesday in Dutse Alhaji, a district of Abuja, it happened yet again. A building collapsed, albeit with fatalities. The unsuspecting victims were fast asleep when the two-storey building under construction experienced a massive structural failure, killing three persons while nine others were left critically wounded. Most of the casualties were commercial motorcycle (okada or achaba) riders ...