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If you’ve ever driven past a “rent-to-own” and tilted your head before, you aren’t the only one. It’s tempting to think about – simply renting a property means investing money in the now; you lose it as soon as you give it to your landlord. Does it entitle you to live in a home? Yes – but that’s it. Renting to own, however, puts money towards your future. It not only enables you to live in your current residence, it also goes towards the cost of owning your home as well. This is big news – you’re spending the same amount of money but it’s working twice as hard for you.

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To Construct 50 Housing units in each LGA. The Lagos State Government on Monday announced plans to upgrade the network of roads in Ikeja to improve and boost the economic stature of the seat of Government to world class standard and to reduce traffic gridlock around the corridor to the barest minimum, just as it revealed readiness to expand the Awolowo Way with an elevated highway from the Ikeja Airport Hotel to Alausa. Speaking at the ongoing Ministerial Press Briefing held at the Bagauda Kaltho Press

Despite this growth, local and regional brands will continue to play an important role as they that best understand local demand and real estate markets. Global hotel real estate capital has been cautious in flowing into Africa due to perceived high risk and limited investment scale. Despite this cautious approach, hotel supply on the continent has grown by 4.1 per cent annually during the past 10 years, which has been driven primarily by local and regional developers. This according to senior officials of Jones Lang LaSalle have made global investors to take note of the potential of the region and considering their optimal entry strategy into these markets.

Aerial view of Victoria Island, Lagos PHOTO: Cluttons Demand for warehouse space, both for storage and manufacturing activities, has dropped sharply in Lagos area, and Cluttons projects these conditions may persist in the remaining part of the year, according to the Cluttons’ Spring 2016 Lagos Commercial Property Market Outlook. According to the report, compiled 12 months to the end of March 2016, there has been an overall slowdown in activity in Lagos’ commercial real estate market, with rents either stagnating or declining across most segments of the sector, attributed to the weakness in the adverse global and domestic economic environment, which is in turn fueling challenging trading conditions.

...Releases White Paper The Lagos State Government at the weekend released a White Paper on the report of the Tribunal of Inquiry into causes of civil disturbances at the Lekki Free Trade Zone (LFTZ), just as it reiterated its commitment to ensuring free access for investors not just in the area but also in other parts of the state. According to a statement signed by the State’s Commissioner for Information & Strategy, Mr. Steve Ayorinde, the State Government accepted most of the recommendations of the Tribunal part of

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Main building consists of three split levels Level 1 basement Olympic size swimming pool with bar and two large changing rooms. Level 2, Gararge for two cars , marble granite floor sitting room and kitchen. Level 3, five bedrooms ensuite. Building 2 (3 levels) Level 1, 3bedroom and toilet/bathroom with kitchen Level2, 3bedroom and 2 toilets and bathrooms with kitchen.

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Great value, affordable living in Lagos THE DEVELOPMENT Orchard Place, Shasha is a beautiful gated community of 72 tastefully built units of 3 bedroom apartments which is closely linked to the Lagos capital Ikeja. Located a few minutes from Lagos local and international airports, Ikeja shopping mall, Alausa, Allen and Ikeja GRA. Orchard Place offers a contemporary lifestyle to its residents as well as enduring value for investors.

IFMA President, Keane In a landmark move to improve existing informational and networking infrastructure in the land, real estate and construction industry, the International Facility Management Association (IFMA) and the Royal Institution of Chartered Surveyors (RICS) have sealed a deal, which promises to transform the US$1 trillion global facility management (FM) industry. By joining strategic resources, they will create an unprecedented level of industry support to meet growing demands from the 25 million FM practitioners around the world, as well as launch a single and compelling career pathway into the FM profession.

…Says Landlords not tenants should pay LUC …Warns residents against patronizing touts The Lagos Government on Monday said it would not hesitate to seal the properties of residents who default in paying their Land Use Charge (LUC), just as it warned that it may explore the option of prosecuting defaulters according to the Law. Addressing journalists at the Bagauda Kaltho Press Centre in Alausa Secretariat, Commissioner for Finance, Dr. Mustapha Akinkunmi, disclosed that the State Government has put in place a variety of

An illustration of the proposed Earls Court, Lagos The real estate firm of Dessbee Limited has set the completion date of July for its first phase project in Lagos, began in October last year. Other logistics involved are expected to extend the estates full readiness for occupation to sometime in September when the second phase of the project will take off at a total estimated cost of N3.5billion. Earls Court as the project is christened will have a total of 109 housing units in the categories of 39 units of three bedroom terraces and 70 units of four bedroom semi-detached houses at completion, with an exclusive maid’s room each. However, in the first phase only 39 units will be built. Facilities include drainage channelization, roads construction as well as other amenities, being fully laid out.

Governor Nyesom Wike Disturbed, that illegal land developers, speculators or vendors are offering government acquired landed property to the public, the Rivers State Government has threatened immediate demolition of houses on its landed property at the proposed site of Government Residential Area (G.R.A) Phase 12 at Eneka in Obio Akpo Local Government Area. The threats are sequent to the failure of developers and buyers to heed repeated warnings to stay away from the land acquired by government several years ago. The Rivers state Commissioner of Housing, Emma Okah, said, the demolition has

To avoid haphazard implementation of the proposed redevelopment plan for the North-east region of the country, the Nigerian Institute of Town Planners (NITP) has called on both the Federal and state governments to put in place master plan for the region. The planners said this was the first step towards ensuring a sustainable redevelopment initiative being projected by the government. In doing this, the planners advocated that the authorities must ensure they are involved, as they have the capacities and expertise to turn the devastated region around through all-inclusive planning and implementation strategy.

Ifeanyi Ugwuanyi An ambitious effort to shore up the internally generated revenue base of Enugu state has begun in earnest, with the launch of a new town development along the Enugu-PortHarcourt Expressway that will yield over N1trillion to the coffers of the government. The new layout, christened, Heliu residences (an acronym drawn from the name of the state governor, His Excellency Lawrence Ifeanyi Ugwuanyi (Heliu) is the first district being created by the state government since the creation of Enugu state, 25 years ago. The new urban community, covering over 132 hectares of land, is divided into two

Ahead of the amendment to the Act that established the Code of Conduct Bureau and Tribunal, estate surveyors have thrown its weight behind the proposed tinkering with the law in order to guarantee its independence. The Nigerian Institution of Estate Surveyors and Valuers (NIESV) however, urged the Senate to make it mandatory that assets declaration must be accompanied with a valuation certificate signed by a registered estate Surveyor and valuer to guard against under-declaration or anticipatory declaration. NIESV made the submission at the 46th conference in Abuja, which was declared open by the Senate President, Senator

Global real estate transaction volumes fell in the first quarter of this year in line with weaker market sentiment, according to the latest capital market research. However pockets of growth were registered in some regions with expectations for 2016 activity to stay broadly in line with 2015, says the report from Jones Lang LaSalle (JLL). Based on JLL’s preliminary data on global capital flows, real estate investment volumes in the first quarter of 2016 dropped 17 per cent year on year to US$128 billion. This compares with US$154 billion registered in the first three months of last year, which was the strongest start to a year in this current six-year cycle.

Vantage Capital Towards increasing its real estate portfolio of over 130,000 square metres of mixed-use office, residential and leisure facilities across the continent, one of Nigeria’s leading property developers, Landmark Africa has been offered $20 million of funding by Vantage Capital, one of Africa’s largest mezzanine fund manager. The Landmark investment is Vantage Capital’s second transaction in Fund III, which is targeting a final closing of $260 million, and has a 60per cent allocation to countries outside South Africa. A Namibian and a South African transaction are expected to close during the first half of 2016 for a further aggregate investment of over $22million.

Rent Actuation powered by PropertyBank and TrustBond Mortgage Bank Plc is tested and trusted. Some people change with time but we don’t, we have served many and are ready to serve more. Many have experienced the seamless process of Rent Actuation and have actualized their property dreams in different areas of Lagos and Abuja. You can be a part of this great innovation. Rent Now and Pay Later, by just being a

The Lagos State Government has announced that an additional foot bridge would be constructed at Ojota bus stop on Ikorodu road, to complement the existing one in order to contain the recent upsurge in usage by Pedestrians. The Commissioner for Information and Strategy, Mr. Steve Ayorinde, who disclosed this in a statement on Thursday, said the decision arose out of the need to reduce the long time being currently spent on the queue by people using the bridge. He said the construction of the additional bridge has become necessary after the newly erected New Jersey Wall on the

…Orders Police to enforce Okada restriction on Mile 12-Ikorodu road …Urges street urchins to lay down arms for rehabilitation, empowerment Lagos State Governor, Mr. Akinwunmi Ambode on Thursday said the State Government will formally sign a Memorandum of Understanding (MoU), with investors for the construction of the proposed 4th Mainland Bridge before the end of May 2016. The Governor, who spoke at the First Quarter 2016 Town Hall Meeting, the third in the series, held at the Ikorodu Town Hall, Ikorodu, assured residents that once the MoU is signed, work would begin on the 4th Mainland Bridge, which according to him, would go a long way to boost the economy of Lagos East Senatorial District. He said, “Many investors have shown

Brand New 3 Bedroom Luxury Flats,4 Bedroom Penthouse & 4 Bedroom Terraces FEATURES: * Modern finish * Swimming Pool * Ample parking space * Large & spacious bedrooms and living areas * Tastefully finished interior

PHASE 1 OUTRIGHT PAYMENT: N1,000,000 DEPOSIT OF N250,000 23 MONTHS INSTALMENTS - N69,000 X 23 MONTHS N1,800,000 WEST POINT GARDENS, IBEJU LEKKI, LAGOS PHASE 2 OUTRIGHT PAYMENT: N1,100,000 DEPOSIT OF N300,000 N100,000 in 12 months instalments N1,500,000 WEST POINT GARDENS, IBEJU LEKKI, LAGOS PHASE 3

The Lagos State Commissioner for Works and Infrastructure, Engr. Ganiyu Johnson has solicited for the patience, understanding and co-operation of motorists and all road users in view of the inconveniences caused by the various road construction work embarked upon by the State Government in different part of the state. The Commissioner made the appeal recently while reviewing the extent of work on some of the projects, which inclued but not limited to the Ajah and Abule-Egba flyovers, Freedom road, Epe network of roads, Ishefun road and Ojodu Berger pedestrian bridge among others, promising that the government is doing everything possible to ensure early completion.

In line with Governor Akinwumi Ambode’s promise of ensuring continuity with improvement, the contractors handling the construction of Lagos Home Ownership Mortgage Scheme, (Lagos H.O.M.S), Mushin scheme that are yet to complete their projects have been mobilized back to site. This has thus debunked the claims in some quarters that the State Government has reneged on its promise to hand over the keys of the apartments to the allottees as promised. The General Manager, Lagos State Mortgage Board (LMB), Mr.DehindeTunwashe, who disclosed this recently, noted that in a bid to ensure speedy completion of the project, the State government has approved the release of mobilization fees to the contractors.

Disturbed that Nigeria’s numerous solid minerals resources are not harnessed as a veritable tool for the much desired wealth creation avenues for the nation’s economy, the organisers of the popular Lagos Housing Fair have moved to ensure that the much sought after homeownership drive is built on the production of indigenous building and construction materials. The fair has thus been designed to explore all the possibilities of growth in the industry as well as examine the root causes of failure based on the understanding that a vibrant and viable local building materials manufacturing sector of the country would doubtlessly serve to increase her Gross Domestic Product (GDP) as well as become a job spinner. Organizers of the 15th edition Lagos

In line with its mission to stamp out structural failures in Lagos State in particular and Nigeria in general, a professional group, the Building Collapse Prevention Guild (BCPG), has jump started a partnership deal with the developers. The pact, would lead to the groups working together with a view to ensuring that the country’s construction industry was safe. Cases of collapse buildings have reached a worrisome dimension in Lagos in recent times. And to contribute its quota BCPG gathered the professionals, government officials and developers at its seminar held at the Centre for Management and Development, CMD Road, Shangisha, Lagos.

Following an invitation for memorandum by the committee on the restructuring and reorganization of Lagos State Building Control Agency (LASBCA) and Lagos State Material Testing Laboratory, professional bodies in the built environment have called on the State Government to immediately take steps towards demolishing over 1,000 identified distressed buildings in the state. Besides, they urged the State Government to involve all the real estate professional bodies in its fight against building collapse and the restructuring of the Lagos State Building Control Agency (LASBCA), saying that would yield an all-inclusive solution. They said a situation where a professional group is favoured over another was not good for the system, and may make the threat of collapsed buildings in the state to linger.

Respite may finally be on the way for developers and allottees in the proposed FESTAC Phase II redevelopment scheme as the federal authorities have waded into the crisis that ensued over a judgment of the Federal High Court, Lagos, which awarded part of the FESTAC Phase II land in Lagos to the Kuje – Amuwo Chieftaincy family. But the move to ease the tension and suspense that have engulfed the scheme is coming as an initiative of the Federal Housing Authority (FHA), owners of the Festac project. In 2002, FHA conceded a portion of the land to Ado village in response to their pleas to the authority for more land following which additional 250 allocations were released to them. Out of the plots, 110 allocations had been perfected with 140 pending.

The Nigerian Institution of Estate Surveyors and Valuers (NIESV) Faculty of Valuation and Compensation has concluded plans to boost the knowledge of their members with a training session coming in Abuja this Friday. The training among other things is meant to horn the skills of estate surveyors in Nigeria to imbibe the International Best Practice This time, issues on World Bank and Bureau of Public Procurement would be discussed. Essentially, the work will dwell on Critical Issues In The Preparation Of Expression Of Interest (EOI) And Request For Proposal (Rfp) For Valuation Assignments (World Bank/BPP Procurement Model): Key Requirements And Techniques.

Borno Governor Kashim Shettima With normalcy returning to some communities in Bama, the Borno State government has announced plans to commence construction of 1, 000-housing units in Bama Township, which will cater for Internally Displaced Persons (IDPs) in Maiduguri camps. Under the projects, the State’s Ministry of Rehabilitation, Reconstruction and Resettlement (MRRR) has already moulded one million cement blocks in September, 2014 for the purpose of re-building of destroyed houses by Boko Haram insurgents.

The Hotel Presidential, Enugu before the renovation work commenced A rash of legal claims may be threatening plans by the Enugu State Government to rebuild the popular Hotel Presidential, three years after a joint venture agreement was signed between the authorities and private investors. The government had granted concession of the hotel in the Coal City to E-Hospitality Services Limited (EHSL) for its renovation and management. But the firm’s plans of becoming a new player before the end of second quarter in 2017 under a special purpose vehicle – Prime View Hotels Limited is being thwarted by a lawsuit filed by a party which allegedly had a previous interest in Hotel Presidential.

The phenomenal rise in population, number and size of our cities over the past few years have manifested in the acute shortage of dwelling units which resulted in overcrowding, high crime rate, thus the need for a convenient home ownership scheme . The demand for shelter is ever rising in the cities, especially the commercial centres. Presently, the concerted collaborative efforts of the government and private investors are yet to address the housing deficit issue. In addition to this, the continuous fall in the price of oil from which most of the foreign exchange earnings of the nation is derived is likely to ultimately affect various sectors of the economy. So, as an investor, as you begin to make investment plans for the

Members of the Yoruba cocoa farmers have got a reprieve over their farmland located at Area BC 10, Okomu Forest Reserves, Okomu in Ovia South West Local Government Area of Edo State through judicial interventions. Both the Edo State High Court and the Court of Appeal stamped their request for interlocutory injunction and consequential restorative order of injunction setting aside all the completed acts of the appellants, Okomu Oil Palm Company and Dr. Graham Hefer. However, The Guardian as at press time could not confirm the stage of the matter, whether the firm had appealed or not. But, if the firm appeals to the Supreme Court and the matter was eventually decided in its favour, then the cocoa farmers stand the chance of losing the landed property.

Illustration of the proposed UPDC Victoria Mall Plaza III, Victoria Island, Lagos When the Victoria Mall Plaza Phase III is eventually completed and opened for business, the retail sector of the real estate market in Nigeria would significantly be boosted, courtesy of the UAC Property Development Company (UPDC) Plc. This project is dotting Lagos landmass, specifically on an expanse of land along Bishop Aboyade Cole Street in Victoria Island, Lagos expected to be a masterpiece of architectural statement when it is finally unveiled. Victoria Mall Plaza is coming after the foremost real estate company, UPDC, successfully commenced and delivered phases one and two of the project.

PHOTO: landsurveyorsunited Members of the Nigerian Institute of Quantity Surveyors (NIQS) have launched a measurement standard for measurement of buildings and engineering works that is expected to come into force in May 2017. Speaking at a training workshop in Abuja, NIQS President, Mrs. Mercy Iyortyer said the institute has already put in motion the process of developing software with the standard known for ease of use by members. She disclosed that BESMM4 would replace BESMM3 as the official Standard Method of Measurement of Works to be used with conditions of Engagement and Consultancy Services Agreement to be approved and directed by the Quantity Surveyors Registration Board of Nigeria (QSRBN).

Ago Palace way In line with the promise made by this administration, the popular Ago Palace Way, Okota in Isolo Local Council Development Area has been delivered. I am happy that residents who stay along this

Real estate is a business where a successful agent must have their fingers in many pies in order to maximize their client pool. Even if the person you connect with isn’t interested in purchasing a home or new business front, odds are they know someone who does. In order to snag more and more new clients, networking is crucial to your career in real estate. But if you’re new to the game, sometimes getting a jump on networking can be a daunting and difficult process. These four networking tips can really help you start seeing your web of associates and clientele expand, and fast. The Importance of the “Elevator Speech” Speeches aren’t just for symposiums, and scripts aren’t just for people on television. If you want to successfully network in this market, then you absolutely have to learn

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Almost a year after the change of baton at the seat of power in Lagos, property owners affected by fire disaster four year’s ago, which gulped eight buildings in the Adeniji Adele area of Lagos Island, otherwise known as Jankara, are apprehensive that the authorities may have dumped it’s megacity urban renewal scheme for the area. On the heels of the fire incidence, government officials who inspected the area earmarked a total 21 more buildings within the vicinity as distressed, thus necessitating a total regeneration plan for the entire Okoya and Ojo Giwa streets covering a massive 10, 000 square meters discovered to be blighted area. This brought the total affected houses to 29 mini high-rise buildings that were either burned in the inferno or marked for

Buying a home can get complicated: setting a budget and sticking to it; making an offer; financing the property once the offer is accepted; seemingly endless paperwork... in short, buying a home is often a daunting process. Fortunately, there's Huios Realtor to guide you through the process. We've been helping people through the process for more than 5years. Huios Realtors participated in more than  500 transactions But, our company isn't just about closing transactions - that's only one small part of what we do. Our firm is built on service and trust, coming through when our clients need us most.  Our goal remains simple: to transform the Land and home buying process into the

It may seem easiest to go with the agent who already knows the home, but not having a buyer’s agent represent you could be a mistake. First-time home buyers aren’t typically versed in the intricacies of agency disclosure, nor do they understand the concepts of a buyer’s agent and seller’s agent. They only know that the person they meet at an open house or email about a listing is an “agent.” When they start getting more serious and want to inquire about a property, its price, condition or history, they typically direct their questions to the seller’s agent — which presents an immediate conflict of interest.

Heritage Place in Ikoyi, Lagos Recent developments in Nigerian economy are impacting heavily on the real estate sector, weighing down business and causing capital flight, says a new report released last week. But the situation has caused decline in office rents as developers are finding it hard to find premier tenants to occupy buildings. A few years of spirited efforts to rise above the dumps may be petering out for Nigeria’s real estate sector, which appears to have slipped into low ebb, courtesy of recent monetary and fiscal policies that have precipitated a gradual slowing down of business transactions. A new report released last week confirmed the development and for the first time in recent years, the effect has been evident in the Lagos office market with demand for space dropping off.

A private developer has launch a new homeownership drive in Cross River State capital, Calabar that will increase the nation’s housing stock with 406 residential buildings. The project, which comes part of the city’s development plan to upgrade to acceptable global green city codes is christened Green City Estate. It is located in the serene part of Calabar Metropolitan City, and sits on an expanse area of 25.123 hectares of plain and well- drained land made available by Cross River State Government. Under the scheme, the developers will be providing infrastructure worth about N400million while the entire estate would gulp N5billion. The Green City Estate comprises four-bedroom duplex, three- bedroom luxury apartments and two-bedroom units.

Whether you’re buying or selling, being prepared goes a long way toward a successful transaction. Real estate is growing strong in many parts of the country. First-time and entry-level buyers find little inventory but lots of competition, leading to a frustrating seller’s market. For sellers, this means quicker and easier sales, if they cross their t’s and dot their i’s. For buyers, this means fighting it out with others for their dream home. Here are tips for both sellers and buyers incompetitive markets. Seller: Prepare, inspect, disclose and plan ahead Although you hold the cards and can call the shots, the market is less forgiving if you make a mistake. Going “back on market” can mean that you will never see the dream deal you had with the first buyer.

More than a quarter of U.S. housing markets recently became more valuable than ever before, a sign full recovery is near. Recent record-breaking home values in 26 percent of the country’s housing markets are both a sign of recovery and another barrier for home buyers as they head out into this season’s competitive housing market. San Francisco and San Jose shattered their median home-value records months ago. But more recently, markets in the South and even the Midwest and Northeast have also surpassed bubble peaks and clocked some of the highest median home values on record for their markets. Nearly half of all housing markets that recently reached new peaks were in the South, led by hot markets in Texas and Tennessee.

1. AWOYAYA; facing express @ awoyaya,ibeju lekki,ajah, title; gov consent, price; 28million per plot 2. SANGOTEDO; 45 Acres of Land at Sangotedo facing Express at 25million per plot. Title: C Of O. (Negotiable) 3. Idi-ori at eleran igbe road, ibeju lekki lagos, price: 2 million per acre with survey, processing the gazette. over 500 acres, needs land developer on this. 4.Arapa igi at eleran igbe road ibeju lekki. price: 2 million per acre. title: file number 5.Alawun at the back of ibeju lekki local council. 3 million per plot with gazette. (Negotiable) 6. Oniganrigan, ibeju lekki 1km to epe express road, price; 1.5 million per plot; title: Gazette

Governor Ambode Lagos State Governor, Mr. Akinwunmi Ambode has ordered the State Public Works Corporation (LSPWC) to immediately embark on extensive repair on the ever busy Lagos-Badagry Expressway so as to improve driving experience of motorists in the area. Special Adviser to the Governor/C.E.O, Public Works, Engr. Ayotunde Sodeinde, told journalists on Thursday that the Corporation has already mobilised its workers to commence work immediately on several sections of the road. “Immediately His Excellency, Governor Ambode gave us the directive, we have moved into the area to commence extensive work on the roads. We have been here since Tuesday and work has commenced in earnest,” he said. He said the repair works will include covering all potholes on the road while the drainage systems will also be given a face-lift.

Governor Ambode Lagos offers hope for Nigeria, Utomi. Lagos State Governor, Mr. Akinwunmi Ambode on Thursday reeled out the numerous investment opportunities that abound in the state to would-be investors in critical sectors such as Power, Agriculture, Transportation, Health, Tourism, Housing, ICT and Manufacturing, just as he assured that the state is open more than ever before for greater business. Governor Ambode, who spoke in Lagos at the formal unveiling of the Office of Overseas Affairs and Investment, otherwise known as Lagos Global, said in anticipation of the increased socio-economic activities, his administration has resolved to prioritize the achievement of the four pillars of the Lagos State Development Plan (2012-2015) which included economic development, infrastructural development, social development and security, and sustainable environment.