Real Estate

Edmark to Invest in Real Estate, Unveils N5billion Centre

Edmark to Invest in Real Estate, Unveils N5billion Centre

Business, Inside, News, Real Estate
Edmark group of companies, a multinational, has unveiled its state of the art international event centre in Lagos, just as it announced its venture into real estate business in Nigeria. It also revealed that its second project is currently under construction in Lekki, Eti Osa Local Government Area of the state, to mark the flag off the project. The inauguration of the Edmark centre, ‘D’Podium’, situated in, Ikeja, was attended by the Lagos State Governor, Akinwumi Ambode, who was represented by his Personal Assistant, Bolaji Are, the Philippines Ambassador to Nigeria, Ms. Shirley Vicario, and her Husband, Pascario Vicario; Malaysian Ambassador to Nigeria, Mohd Yunus Bin Ibrahim; and Kano-born Nigerian business mogul, Hassan Dantata. Speaking at the opening ceremony, the Chairman/F
FMBN Advises World Bank Against Duplicating Its Efforts

FMBN Advises World Bank Against Duplicating Its Efforts

Property Market, Real Estate
Nigeria’s Federal Mortgage Bank of Nigeria (FMBN) has appealed to the World Bank to end the creation of parallel housing finance schemes in the country. This is in order to avoid duplication of responsibilities. Managing Director FMBN, Architect Ahmed Dangiwa said World Bank is the statutory body mandated to manage housing mortgages. As such the entity should partner with the mortgage institution rather than duplicating its efforts. The MD urged the World Bank to build confidence in the FMBN. This is through improving its capacity as well as the provision of affordable housing. FMBN Unit Head, Public Affairs and Event Management CEO Mr. Kaoje Ahmed released a statement expressing concerns on the issue. Mr. Ahmed explained that save for a change of strategy, the approach is not good.
PENCOM To Invest N2.32 Trillion In Infrastructure By 2019

PENCOM To Invest N2.32 Trillion In Infrastructure By 2019

Business, Real Estate
The National Pension Commission (PENCOM) said on Tuesday it planned to deploy at least 40 per cent of the total pension funds in the country (about N2.32 trillion) into investments in infrastructure development by 2019. Total pension assets in Nigeria stood at N5.8 trillion as at July 2016, and accounted for about 6 percent of the country’s gross domestic product (GDP). The Director General of PENCOM, Chinelo Anohu-Amazu, said in Abuja this was part of the Commission’s five-year strategy to enhance inclusive growth and generate better value for contributors. Mrs. Anohu-Amazu was represented at the 2016 conference for finance correspondents by the Head, Investment Supervision department of the Commission, Ehimeme Onuorah. The DG, who noted the current huge infrastructure gap in the coun
Odu’a Commits Huge Funds To Rebuild Residential Estate

Odu’a Commits Huge Funds To Rebuild Residential Estate

Real Estate
THE Chairman of Odu’a Investment Company Limited, Dr. Isaac Akintade, has expressed the conglomerate’s desire to resuscitate its investment drive in property business by building blocks of flats and duplexes and refurbish its derelict properties. During the turning of the sod and foundation laying ceremony for four units of four-bedroomed flats and three units of five bedroomed duplexes with adjoining lodgings at the Jericho GRA in Ibadan, the chairman said the project was part of the efforts of the board of the company to reinvest in the building sector in order to improve on its earnings. He explained that the project would gulp several millions of naira and that part of the visions of the company was to turn most of its derelict properties as well as those not yielding much income int
Global Capital Fuelling African Property Markets

Global Capital Fuelling African Property Markets

Real Estate
African property markets are still poised for growth despite a slow down in various economies in the continent mainly caused by a slump in commodity prices thanks to global capital which continues to find its way in the region. But even as property developers and private equity funds continue to pour investment into the continent, they are focusing on various strategies which enhance their returns, says the General Manager of the upcoming Africa Property Investment Summit, Kfir Rusin. “Over $1,2 billion has been raised and allocated to real estate investment in Africa over the past year and we expect this trend to continue” said Rusin. Over $1,2 billion has been raised and allocated to real estate investment in Africa over the past year and we expect this trend to continue. The
‘Prime Real Estate Prices Moderate, But Disparities Widen’

‘Prime Real Estate Prices Moderate, But Disparities Widen’

Real Estate
Global prime residential real estate continued its steady climb in the first quarter of 2016. The index increased 3.6 percent, within the 3-4 percent window observed every quarter since late 2014. However, this is a result of a handful of booming markets rather than stable growth across the board, meaning the 3.6 percent number obscures the fall of some markets. “In Hong Kong a raft of cooling measures aimed at improving affordability for local residents and deterring speculative investment have been introduced in recent years,” said Kate Everett-Allen, Partner, Residential Research, Knight Frank. “A lack of supply, combined with strong domestic and foreign demand, has driven prices higher [in Vancouver and Australasia] in the last two years,” she said. “Both markets have seen the
Scores Feared Dead As Building Collapses In Makerere

Scores Feared Dead As Building Collapses In Makerere

Engineering, Real Estate
Three bodies have so far been recovered from the rubble of a collapsed building along Makerere Hill road near Makerere University in Wandegeya. The building collapsed this afternoon. Seven other people have so far been rescued by the Uganda Red Cross and Police Fire Brigade. The survivors have been rushed to Mulago hospital for treatment. The rescue mission is currently still ongoing. The three-storied building near Ham Towers in Makerere housed Singh Motor Garage, a restaurant and a pharmacy among other businesses. A number of vehicles were also damaged and are now being towed to Wandegeya Police station. Eye witnesses narrate experiencing tremors at the time of the tragedy. Another eye witness said that part of the building had developed cracks and engineers had already warned agai
Ambode to Demolish ALL Defective Lekki Gardens Buildings

Ambode to Demolish ALL Defective Lekki Gardens Buildings

News, Real Estate
Akinwunmi Ambode, governor of Lagos state, has directed the conduct of stability test on all buildings constructed by Lekki Gardens to ascertain their structural integrity, saying that any building found to be defective will be demolished. According to Habib Aruna, the governor’s chief press secretary, Ambode gave the order after inspecting the site of the collapsed building, which killed 34 persons. He quoted the governor as saying Lekki Gardens will be responsible for the cost of the tests.goo “The state government will undertake a stability test on all other buildings constructed by the developer in the state, whether occupied or not, to ascertain their structural stability,” Aruna said in a statement. “The developer will pay the cost of the tests. Any building found to
New Construction Technology Tops Products At AfricaBuild

New Construction Technology Tops Products At AfricaBuild

Real Estate
PLANS to improve the nation’s technology in the building and construction industry got a boost last week as 91 exhibitors from 16 countries in the AfricaBuild fair showcased latest breakthrough in modern equipment designs and products. In the exhibition tagged: Nigeria Between Affordable Housing and Mega Luxury Projects’, major display included, first ever drones for building and construction, which will be used in safeguarding precious lives often put at risk at construction sites and monitoring urban developments. Pioneered by  Drones 9ja, the drones can be deployed to all types of construction works where height is involved, according to the managing director Tobi Akinbiyi. He  explained further that whereas construction workers are put at risk to perform inspection of roofings, b
ECOBA chief outlines how coal power’s issues impact on construction raw materials

ECOBA chief outlines how coal power’s issues impact on construction raw materials

Real Estate
The European Coal Combustion Products Association (ECOBA) have been outlining the knock-on effects pressures on EU coal power are having on the industries dependent on coal's by-product materials. Ivan Skidmore, the new President of ECOBA has delivered a paper on how a decline in coal-fired power generation might impact on the supply of by-products such as coal ash and gypsum and the outlook for combustion products as legislation continues to have effect. At the recent Ashtrans2015 conference in Copenhagen Skidmore told delegates about how the shift from fossil fuels to renewable energy sources, such as hydropower, solar energy, wind and biofuels has impacted on the quantity and quality of coal combustion products (CCPs). CCPs are mainly utilised as a replacement for natural mater