Stakeholders are urging the government to give developers tax breaks to boost investment and growth in the housing sector. This call was made during the Real Estate Outlook for 2024 event in Lagos. Photo Credit: Punch Newspapers Gladstone Okpara, President of the International Real Estate Federation’s Nigeria chapter, emphasized the importance of tax relief […]
Stakeholders Call for Tax Breaks to Boost Housing Growth Read More »
The Lagos State Government has begun auditing buildings to ensure they adhere to the state’s development plan. Kehinde Osinaike, the General Manager of the Lagos State Physical Planning Permit Authority, revealed this during a recent meeting with real estate developers in Lagos. Osinaike expressed concern about the unauthorized change of building use in various parts
Lagos Clamps Down on The Unauthorized Use Of Buildings Read More »
The real estate sector in Nigeria is forecast to grow to $2.26 trillion in 2024, of which residential estate will contribute $1.93 trillion or 85.4 percent. Industry analysts expecting real estate expansion noted the hurdles posed by a falling currency, insufficient infrastructure, many taxes, and expensive building costs. Dr. Biodun Adedipe, Founder and Chief
A New Frontier: Real Estate Sector In Nigeria Eyes $2.26 Trillion Growth by 2024 Read More »
The federal government of Nigeria has emphasized the critical role of land recovery in its efforts to combat climate change, particularly focusing on the urgent need to reclaim land lost to desertification, notably in the Northern region. The federal government of Nigeria has emphasized the critical role of land recovery in its efforts to combat
Nigeria Prioritizes Land Restoration Amid Climate Crisis Read More »
The Lagos State government announced that it’s inviting feedback on the updated Alimosho Model City Plan from the public. Mukaila Sanusi, who works in the state ministry of physical planning and urban development, mentioned that residents of Alimosho and the wider public can give their input to finalize the plan. Starting from February 19 to
Your Community, Your Input: Alimosho City Plan is Now Open for Public Review Read More »
Operators in the construction industry are upset about how politicians are affecting town planning laws, saying the laws aren’t being enforced effectively due to a weak system. Moses Ogunleye, a former President of the Association of Town Planning Consultants of Nigeria, shared his views in an interview with The PUNCH. He mentioned that enforcing town
Disaster in the Making: Town Planning Experts decry Political Meddling Read More »
Home seekers are struggling as landlords increase rents due to rising construction costs, exacerbated by Nigeria’s challenging economic conditions. In the past year, tenants, especially in city suburbs, have faced rent hikes of over 40 percent. Factors like high inflation, currency devaluation, and the removal of petrol subsidies have driven up the prices of
Rising Rents Crush Hope for Affordable Housing in Nigeria Read More »
President Bola Ahmed Tinubu will kick off the construction of 3,112 houses in the Karsana area of Abuja this Thursday, February 8, 2024. The project stems from a partnership inked in December 2023 between the Ministry of Housing and Urban Development and a group of companies including Continental Civil and General Construction Limited and Ceezali
The Minister of Works, David Umahi, says it will cost N146bn to fix Marina shorelines. He revealed this during a tour to check the Third Mainland, Carter, and Eko Bridges with Wale Edu, Minister of Finance and the Economy. Umahi is concerned about the damage to Marina shorelines, which may jeopardise the Lagos Blue Rail
FG Seeks Massive N146bn Fund for Marina Shoreline Recovery Read More »
The Nigerian Institution of Estate Surveyors and Valuers urged its members to value properties ethically and avoid dishonest practices. Johnbull Amayaevbo, the President/Chairman, emphasized this during a recent event in Abuja. The occasion marked the 30th John Wood Ekpenyong Memorial Lecture and the 2024 induction of fellows. The theme was “The Role of the Real
NIESV calls for integrity among its members Read More »