ChangeAgent Property

TOWARDS reducing the nation’s housing deficit estimated at 17 million units, Trust Bond Mortgage Bank Plc has announced plans to engage in affordable home financing in all parts of the country, and offer of innovative products that would cater for different needs of the populace. The company will also ensure compliance with the relevant regulatory requirements and improve its profitability as well as embrace the use of technology in meeting the needs of our clientele. The bank’s Chairman, Etigwe Uwa, who made this known during the company’s annual general meeting in Lagos, noted that the new shift in Central Bank of Nigeria (CBN) operational guidelines, permissible activities for Primary Mortgage Banks (PMBs) are mortgage finance, real estate construction finance and acceptance of deposits, have brought the re-awakening that mortgage firms are ‘banks’ and not real estate management firms.

THE umbrella body for estate developers in Lagos Sate has inaugurated a new governing council and Board of Trustees (BOT) at its new secretariat at Ebute- Metta, last week. At the event, the Chairman of the Association of Real Estate Developers of Lagos State (AREDOLS), Nureni Ayinde Akinsanya, reiterated the need for developers to ensure global best practices in construction in order to reduce the incidence of collapse being witnessed nationwide. Speaking at the maiden of the and Governing Council of the association, Akinsanya said the inauguration marked a historic moment in the life of the association, adding that it was part of the achievement of the present executive.

                     Haven Homes While government admitted that its role is to create conducive environment for private investors in its quests for housing delivery, stakeholders reeled out sundry requests that would attract investment in the sector to ensure 20,000 units in 2018. TO keep the increasing housing demand in Lagos State under control, the state government must adopt a multi-approach strategy; else, crisis of homeownership in the state would continue to escalate. Though not totally new to the industry, several of these approaches were thrown up at a one-day forum, organised by the Lagos State Ministry for Housing.

A DISPLAY of architectural masterpiece is in the pipeline as a construction firm, Sujimoto last week launched the tallest residential building in the highbrow Lagos settlement, Ikoyi. It is named Lorenzo, which upon completion would be magnificent development and symbol of structural mastery in Ikoyi’s prestigious neighbourhood of Bourdillon. Lorenzo, according to the developer, presents homeowners the elegance of worldclass residential poise on our own shores with unrivalled features, facilities and excellent services. The project is a 25-floor residential masterpiece built on 3,800 square metres of amazing landscape.

Vice President Yemi Osinbajo says the Federal Government is focused on implementation of Niger Delta Master Plan to drive development of the region. Osinbajo stated this at the inaugural meeting of Partners for Sustainable Development Forum organised by Niger Delta Development Commission (NDDC), in Port Harcourt on Monday. He said President Muhammadu Buhari had also expressed concern with current degradation of the environment with a view to addressing challenges faced by the region. “Niger Delta remains a priority of the President Muhammadu Buhari-led APC government with a view to attending to current devastation and environmental degradation in the region.

The ATLANTIC RESORT, Victoria Island!!! OWN A STAKE TODAY at the Luxurious Atlantic Resort, Victoria Island Lagos Nigeria. Real Estate has never been this affordable. Invest today for as low as N1,293,400.00 on a spread payment plan per Square metre and earn rental income/capital appreciation for as long as you please on your Investment.

…Earmarks 189 Roads For Next Phase The Lagos State Government on Tuesday 24th of November said that over 282 roads have been rehabilitated in the last six months, just as it assured residents that the ongoing construction across the metropolis will be completed in due course. General Manager of the Lagos State Public Works Corporation (LSPWC), Engr. Ayotunde Sodeinde gave the assurance on Tuesday while briefing newsmen on the work done so far said that the State Governor, Mr. Akinwunmi Ambode’s desire is to see that the roads across the state are motorable. “We have done 282 roads since June 2015 till date. We have listed another 189 roads and anytime from now we would start. We would work every day and night to ensure we make life more comfortable for residents in the state”, he said.

This is an exclusive interview with Chief (Dr) Christian Francis Ipoola Olaniyan Land Investment interview with Chief (Dr) Olaniyan…Born to parents who were teachers, he also ended up an educationist after having the best education available back in the 40’s.The founder of Victory Schools, Ikeja and other various establishments, he was one time Hon. Commissioner for Establishment and Training, old Oyo State and has held various laudable public offices and social positions. He has also won over fifty Honours Awards from different organizations, both civil and religious between 1978-2010. In this exclusive interview with Nigeria Real Estate Hub on , Chief  (Dr) Christian Francis Ipoola Olaniyan (JP)  reveals to us what land acquisition was like in the 70s and the various challenges that came with it. NREH: How did this vision start? What inspired your action to start a school? A: In Ibadan, I was the founder principal between 1960 and 1964 so I had to leave to do poli...

Rwanda's capital, Kigali has been declared the Most beautiful city in Africa by the United Nations (UN).

Mumbai attracted 40% of the $2.4 billion (around Rs 15,500 crore) private equity (PE) investments in the Indian real estate between January and September 2015. Global real estate consultant Cushman & Wakefield, which released its report on Wednesday, said the total PE investment this year was the highest since 2008. The investments come when the office absorption across top eight cities is estimated at 158 million sq ft during 2015-19, it added. The PE investment this year is an increase of 84% over the corresponding period in 2014. The figures were released in the annual real estate investment publication, ‘`India Real Estate-Resurgence on the Anvil’ in association with the Global Real Estate Institute. Delhi-NCR and Mumbai remained the top contributors in attracting PE investments this year. Mumbai attracted the highest PE investment volume with over Rs 7,000 crore, followed by Delhi-NCR, which garnered a 24% share.

Property management is an integral part of real estate that shouldn’t be taken with a pinch of salt. For this reason I am devoting this time and space allotted to me on this platform to discuss and share my thoughts and experiences on the management of properties as it is been practiced in Nigeria and other parts of the world. In view of this, we had an issue with a client who saddled us with the responsibility of managing his property. Things got ugly when he had a problem with a tenant and in response he was going to evict the said tenant. Albeit the crux of the matter was his decision to make us bear the cost of eviction since the tenant came in through us. Invariably the cost of eviction regardless of the process; be it at the level of litigation or engaging a lawyer to effect his cause was to be incurred. I understand this is the norm in the society he emanated from having spent quality time in the United Kingdom. Nonetheless this was a far cry from what is obtainable in Ni...

The Rate of unemployment in the country is on a recurring decimal. The situation is so bad that some persons now assume joblessness is a career in Nigeria. The Nation’s institutions continue to churn out graduates yearly while those that graduated over the years remain jobless. The new ones come to join the old ones to form an association of unemployed graduates; the largest body there is in the country. The situation is so frightening that whenever ‘ASUU’ decides to down tools, the unemployed graduates run to the mountain and pray fervently that the strike action never ends. The rate of unemployment in Nigeria scares the living daylights out of parents and even their children in the various higher institutions across the country. Though the government and private investors can do a lot better than they’ve done, they definitely can’t do everything. The Nigerian youth has a duty to carve a niche for themselves where the government has failed. They can’t continue to wait for the gover...

                             Amen Estate So, you are ready to throw your hard-earned money into a new home project. This is what you should know before investing in a new home. The process of developing new subdivisions as a unified building concept is now more prevalent than ever. In regions all around the country, new home builders are creating entire communities from scratch, building in a way to create a unified residential area and the profits that go along with that. If you are one of the millions of potential home owners thinking about buying a new home, keep in mind some key facts as you go through the process. Real Estate Agents Matter Some think that buying a fresh home fr om a builder does not require a real estate agent, but there are some great reasons to include one in your transaction. At the very heart of the hammer is the experience a real estate agent has with the contracts you will be ...

Price:  N650,000 per plot. Installment Available: Initial deposit: N100,000 & spread the balance for 20months. Outright payment attract 10% discount.

Lagos State Government has declared that the Badagry development Master Plan will not in any way be compromised in view of the economy viability of the axis and its importance to the growth of the State economy. The State Commissioner for Physical Planning and Urban Development, Tpl. Anifowoshe Abiola, made the declaration on Thursday while speaking at a Stakeholders' Forum themed "Keying into Benefits of City Development for Urban Sustainability " at Ojo Town Hall with professionals in the built industry, traditional rulers, members of Community Development Associations, artisans, market men and women in Ojo area of the State. He said the State Government will continue to pursue the development plans of Badagry and Ojo in order to open up the axis for more government presence as well as improve the welfare and wellbeing of residents in the area. According to him, Lagos, unlike any other city in the country, requires adequate planning considering its limited landm...

AN increasing number of the world’s wealthiest people are buying non-traditional homes outside of where they usually live and the vast majority own two or more homes, new research shows. Ultra-high net worth individuals (UHNWs) are classed as those with assets above US$30 million and are discerning about what they buy, says the research report from Wealth-X and Sotheby’s International Realty. UHNW buyers look for residences that are environmentally sustainable, technologically sophisticated, or that fit better with their personal and family needs. The average buyer in this sector is 63 years old, married and has a net worth of US$165 million. The top place to buy a second home is the United States followed by the UK and then Switzerland.   The Caribbean and the Mediterranean also remain favorites among UHNW buyers for private island homes, but Southeast Asia, Canada and Belize are gaining popularity.

THE British property industry has welcomed a government review of one of the country’s biggest bugbears in the planning system. According to the Property Federation (BPF) the relook at the Community Infrastructure Levy (CIL), a development tax, which is used to fund local infrastructure, is long overdue. The organisation, which is supportive of CIL in principle, has long advocated a review of the tax and says that it has become overly burdensome and inefficient. The BPF says that the review must not be the end of the story. In some cases, the evidence base used for the initial CIL setting is now fully out of date, and not fit for purpose. It is crucial that local authorities are encouraged to regularly review their own charging schedules against market signals and to test them against ‘real life’ projects that reflect market conditions.

Welcome to the Two New Dominion Onward Estate on Ibeju Lekki Axis, Location:  1. Opposite Lekki Golf Course, Igbekodo Ibeju Lekki. 2. Beside Lekki Free Trade Zone, Orimedu Ibeju Lekki. Neighborhood: *Amen Estate *Lekki Free Trade Zone *Lekki International Golf Course *International Airport *Dangote Refinery *LA Campagne Tropicana Resort *Eleko Beach *Lekki Seaport *Rehoboth Estate *Port View Estate.

Welcome to the New Dominion Onward Estate on Lekki Epe Axis, Location:  *Opposite Farapark Estates, Sangotedo Lekki Epe Express Way. Neighborhood: *Crown Estate *Diamond Estate *Emperor Estate *New Lekki Mall (Shoprite) *Corona  International School *Fara Park Estate *Abijo GRA Infrastructure: *Paved road & Sidewalks, *Storm drainage, *Recreational park, *24 Hours security system, *Water supply & Street lights *Management and maintenance services.

The Lagos State Government has charged allottees of State lands, particularly those within Victoria Island, Ikoyi, Lekki 1 & 2 and Abijo Residential Schemes, to take physical possession and develop the plots allocated to them on or before December 14, 2015. The Permanent Secretary, Lands Bureau, Mr. Bode Agoro, who gave the directive on behalf of the State Government, stated that  it (the directive) is in line with the policy thrust of the Government in allocating lands to citizens in residential schemes which is to assist them meet their desire of building houses of their own. Agoro affirmed that the terms and conditions as stated in the State Land Law, mandates allottees or holders of Right of Occupancy to fully develop their plots within two years of allocation, which he said, informed allocation of plots of lands on the schemes. He gave assurance that building approval for those that are ready to develop their plots or parcels of land in compliance with the directi...

Wings Towers In a bid to offer big local and multinational firms office space for operational purposes in a convenient and spacious building, an edifice, known as Wings Towers, described as ‘first of its kind in Nigeria’, is currently leasing out its 27, 000 square metre billed to open fully on September 1, 2016. The 12 floors twin building located at the Ozumba Mbadiwe Street, Victoria Island, is designed to offer convenience, comfort and security to tenants. The facilities in the building include a 700 dedicated parking space, public restaurant and entertainment deck, a functions desk, podium, basement, penthouse suites, Porte Cochere, banking facility, electrical power is provided to the building at 11kV and up to 3.5MVA, while backup generators are also available. There is a decentralized Variable-Air-Volume (VAV) air-conditioning system with air-cooled chillers to be provided, 100 per cent for the occupants, installed on 1000 square metres floor above ground level. They ar...

Former President, NIESV, Mr. Emeka Eleh, the president, Mr. James Omeru, the publicity secrtary, NIESV, Mallam Ali Bature and chairman of the occasion, Mr. Joe Idudu during the group’s 2nd 205 National Mandatory Continuing Professional Development Seminar held in Lagos last week. AS the new housing minister, Mr. Babatunde Raji Fashola is settling down to tackle the challenges of housing in Nigeria, experts in the housing sector, under the aegis of the Nigerian Institution of Estate Surveyors and Valuers (NIESV) through her faculty of housing is set to unveil some affordable housing delivery models via community development approach at her 2015 National Housing Summit, planned to hold in Abuja, this Thursday. This was stated by the Chairman and Secretary oif the Faculty of Housing, Mr. Biodun Odeleye and Casmir Anyanwu respectively. According to them, community synergy guarantees access to land at reduced cost, access to finance, quality home ownership in organised estates with s...

Hundreds of real estate developers and investors streamed into the Brooklyn Museum on Tuesday morning, past a 65-foot cloth banner proclaiming "Brooklyn Is Not For Sale!" Nearby, dozens of local artists and community activists shouted "Greedy! Greedy!", protesting the institution's decision to host thesixth annual Brooklyn Real Estate Summit. "White dudes in fancy suits is all I see," said Olivia Fox, a performance artist from Queens. Fox, who was holding up one end of the banner, is a member of the Brooklyn Anti-Gentrification Network (BAN). "The Brooklyn Museum is supposed to serve Brooklyn, and it should be serving its most vulnerable population first and foremost," she added. A BAN petition with more than 1,000 signaturesas of this writing implored the museum to cancel the event—hosted by Green Pearl—citing record rents and a near-record homeless population—more than 56,000 New Yorkers were enrolled in city shelters as of August. ...

An illustration of the proposed Atlantic Resort, Lagos The Atlantic Resort is conceived in response to the demand for grade ‘A’ office spaces, which continues on an upward trajectory due largely to the size of Nigeria’s Gross Domestic Product, growing population, emerging middle class and more specifically, the thriving business environment in Lagos owing to economic activities in the state. FOLLOWING recent increase in the number of real estate firms venturing into Lagos property market, especially in mixed used developments and dreams of multi-national companies to have their executives, who are majorly expatriates, in close proximity to their working places, a Lagos-based developer, Messrs Grenadines Homes has launched a new luxury business and residential development in the city’s skyline. The project christened Atlantic Resort is to be built on 3.4 hectares of land and will comprise one commercial tower and two residential towers located on Water Corporation Drive, off Li...

Central Park from a height, New York City, USA Courtesy www.inthenewyork.com As the city continues to grow and expand with its attendant pressure on the environment, it is expedient that efforts must be made to improve the city and make it healthier for people through sustainable green infrastructure. IN pursuit of making the Lagos a live-able city, government has pledged to ensure the sustainability of ongoing urban regeneration programmes. To this end, an initiative known as “Metropolitan Park”, designed along the popular Central park in New York, USA, is commencing in 2016. The project is to be sited at Aiyeteju, in Ibeju-Lekki Local Government area of Lagos, with five hectares of land already acquired for the take off of the project. Speaking at a press briefing heralding stakeholders’ forum on sustaining green Lagos, organised by the Lagos State Parks and Gardens Agency (LASPARK), last weekend, Commissioner for the Environment, Dr. Babatunde Samuel Adejare, said green a...

• Electricity, roads, rail top agenda • FG banks on TSA to deliver safety nets • Begins conditional cash transfer next year THREAT of recession is pushing the President Muhammadu Buhari-led Federal Government to plan massive infrastructural and social investment spending, The Guardian has learnt. Last night, the Presidency hinted of plans to spend not less than 40 per cent of the 2016 budget on capital projects, a move which one of the sources described as ‘unprecedented in the nation’s budgetary history.’ Also top on the agenda of the Buhari administration is to mobilise substantial funds within and outside government to fund the Conditional Cash Transfer (CCT). CCT programmes aim to reduce poverty by making welfare programmes conditional upon the receivers’ actions, meaning that the government (or a charity) only transfers the money to persons who meet certain criteria. Government also plans to make significant savings from leakages and fraud, which, according to one of...

DALLAS -- Billionaire Warren Buffett is getting in on the Dallas real estate market. An affiliate of his firm Bershire Hathaway,HomeServices of America, Inc., has purchased Dallas-based Allie Beth Allman & Associates. The real estate company specializes in luxury properties with $1.5 billion in sales last year. "Allie Beth Allman & Associates is a strong company with an exceptional reputation in a growth market," said Ron Peltier, HomeServices' chairman and CEO. "This transaction aligns with our vision of acquiring distinguished companies in leading markets that share our core values." Allie Beth Allman & Associates was founded in 2003 and is recognized as the "highest-grossing, single office residential real estate firm in Dallas," according to a press release. "We are proud to be part of HomeServices of America," said Allman. "We are joining an organization known for its strength and stability; one that is cons...

Managing Director, Oladele Construction Company Limited Isiaka Oladele said lack of funding and enabling environment are the major factors hindering the delivery of affordable housing in Nigeria. Oladele who stated this in an interview with Daily Trust blamed the government for not creating the necessary environment for building and construction industry to strive like in other developed countries in the world. “In Malaysia, Singapore and Arab countries that are developing fast, government created the enabling environment for their industries. Singapore has the highest mass housing delivery called low income earner, they have a bank specifically meant for only building and construction industry. But here, the bank and enabling environment are not there, getting land and approval from the government is so difficult. Also the building materials are on the high side,” he lamented. According to him, until stakeholders in the industry like government, building material manufacturer...

Lagos State Commissioner for Housing Mr. Gbolahan Wasiu Lawal–Akapo has inspected projects under his Ministry.  He was accompanied by the Permanent Secretary, Mr. Olatunji Odunlami and Special Adviser to the governor on Housing, Mrs. Mudirat Giwanson. He visited Lagos State Homes Ownership Mortgage Scheme (LagosHOMS) in Omole Estate, Igando, Oko–Oba, Agege, Chief Anthony Enahoro Housing Estate Ogba, Omole Phase 2, and Magodo. According to the commissioner, the tour was to familiarise him with the Lagos HOMS sites and to see the level of work done. “I want to see all the sites that we have, where construction works are ongoing,” he explained. The Commissioner expressed satisfaction with the level of work done so far, assuring that his future plan is to look at the projects left by the last administration, review and appraise and come up with a strategy to improve on what was met in order to close the housing gap between the high earners and the low income earners because ‘’...

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AS the nation is facing massive urban growth that could exacerbate existing problems of congestion, pollution, and traffic safety, the Federal Government has pledged to grow the housing sector and harness its potential for sustainable national development. said his administration remains committed to sustaining key lands, housing and urban development policies, such as the Housing Policy, National Urban Development Policy, National Integrated Infrastructure Master Plan, Vision 20:2020, National Building Code, and the ongoing Medium Term Successor Plan (2016-2020). In a keynote address he delivered last week at the 46th Annual Conference and General Meeting of the Nigerian Institute of Town Planners (NITP) held in Ilorin, Kwara State, on Making cities in Nigeria functional, the President stated that, to complement these efforts, government has activated the Roadmap for Nigeria’s Housing and Urban Development Sector while producing a National Land Policy to induce far-reaching ref...

RELIEVE may have come the way of more than 2, 000 Ayobo allottees, under Alimosho Local Government Area of Lagos, whose homes were demolished between July and August 2007, by the immediate past administration in Lagos, the state government has commenced the process of reallocating the victims. The victims’ homes had been demolished over the pretext that the location where the property was situated is government acquisition landed property. After going through series of checks, close to 700 of those affected have been shorted for reallocation. However, as at last week, about 200 out of the number had received the new allocation paper from the government. In a letter signed by the Executive Secretary, Land Use Allocation Committee (LUAC), Messrs Olukayode Ogunnubi, titled “Allocation of State Land at Ayobo Residential Scheme (Extension), dated September 21, 2015, 90 days was giving for the beneficiaries to meet certain conditions. Read full Story  Here

President Muhammadu Buhari on Wednesday inaugurated 36 ministers as members of   the Federal Executive Council  five months after his inauguration. His cabinet is smaller than that of his predecessor, Goodluck Jonathan, who had 42 ministers. Under the constitution, the president must include a member from each of the country’s 36 states. To set the tone for today’s swearing-in, President Buhari, yesterday appointed new 17 permanent secretaries and reshuffled all current permanent secretaries. The full list of the ministers and their portfolios is below: Kemi Adeosun (Ogun) – Finance Rotimi Amaechi (Rivers)–Transportation Chris Ngige (Anambra)–Labour and Employment Kayode Fayemi (Ekiti)–Solid Minerals Babatunde Fashola (Lagos)–Power, Works and Housing Abdulrahman Dambazau (Kano)–Interior Aisha Alhassan (Taraba)–Women Affairs Ogbonnaya Onu (Ebonyi)–Science and Technology Abubakar Malami (Kebbi)–Justice Hadi Sirika (Katsina)–State for Aviation Sulei...

Location: Off Aga Road Ikorodu Lagos. Title: Registered Survey & Deed. Price: N6million net. For more Info pls Call Huios Realtors: +2348063454724, +2347087651431. Pin: 563E38F1.

Andrew Cole, one of the Premier League’s all-time top goal scorers, on bad financial advice, player wages and the merits of buy-to-let. Stating that Investing in property is his best business decision. Read excerpts below: Andew Cole is an ambassador for Manchester United FC. During a playing career of 19 years, he won 15 England caps, is the second-highest goal scorer in Premier League history, and played for Arsenal, Manchester United, and Blackburn Rovers among other clubs. He is married to Shirley, and has a son, Devante, who is a professional football player for Bradford City AFC, and a daughter, Faith, 14. He lives in Cheshire. Have you ever worried about how to pay the bills? Yes. I bought an apartment in my early 20s when I was living in London and had signed with Arsenal. I didn’t realise how much an apartment would cost to run in terms of maintenance fees, and things were tight for a while. I had a high mortgage to pay too. It was an eye-opening experience. Wha...

Real estate is typically one of the soundest investments anyone can make. Smart real estate investors follow the golden rule of capitalism: buy low and sell high. Everyone wants to find a bargain – or at a minimum, not overpay for their property. As neighborhoods become trendy and inventory declines, finding a bargain becomes increasingly hard. Finding a neighborhood at the height of its popularity means paying a premium price and running the risk of lower valuations in the future. On the other hand, taking the risk of investing in a questionable neighborhood that never turns around is equally concerning to homeowners. Yet, these neighborhoods, the ones that haven’t already become trendy, are where you can often find the best investment opportunities. However, investing in this space requires some good old fashion boots-on-the-ground due diligence in order to minimize your risk. Many articles about spotting the next hot market advise readers to consult metrics like trends in pro...

A layout approval is consequential to every public or private building projects in Lagos state to ensure conformity to the state’s master plan. In this article, we take an indepth look at how to process layout approval in Lagos State. The details of layout and planning are essential to proper construction of a building. Layout prepares the site for the foundation which must be planned and completed for each building being constructed. The real meaning and purpose of setting out (layout) is to transfer the plan, length and width of its foundation on the ground so that the foundation can be excavated for construction of purposed building as per drawing. Before building development can commence, with respect to public and private estates, it is fundamental that the project owner is issued an approved layout development plan for his building project and must in no way contravene what is proposed in the approved building design. The documents required to be submitted before a lay...