Krent Updates

On Sunday, January 21st, a fierce fire destroyed the well-known 10-story Mandilas Building on Broad Street, Lagos Island, causing losses of over N10 billion. The incident happened around 1:15 p.m. when businesses were closed. The fire originated in a warehouse on the first floor and spread to other levels. In a recent interview, Agu Versace, […]

The real estate and construction sectors have witnessed an increase in bank borrowings, but this has not resulted in additional housing stocks due to inflation and currency rate volatility. Experts warn of a possible disaster as developers struggle to repay debts. Inflation and exchange rate difficulties are harming industries, increasing the cost of imported supplies

According to a recent report, the cement sector is predicted to improve in 2024 as a result of the Presidency’s increase in infrastructure budget to N1.32 trillion and the establishment of the Infrastructure Support Fund (ISF). The Federal Government’s emphasis on building concrete roads across the country may hike cement costs to N9,000 per 50-kilogram

The Nigerian Conservation Foundation (NCF) has criticised the Oyo State government’s proposal to clear Agodi Phase 2 of the Ogunpa Forest Reserve for an estate. The NCF’s director general, Joseph Onoja, expressed his concern at the foundation’s annual general meeting in Lagos, emphasising the necessity of raising awareness to protect Nigeria’s rich wildlife. Onoja emphasised

Lagos Housing Estate The Take-It-Back Movement (TIB), a civil society group, is expressing concern about the high rents affecting households’ incomes nationwide. In a peaceful protest in Lagos, particularly focusing on Lagos Island, the group criticized the unaffordable housing costs for the general population. Due to high inflation, the prices of essential building materials have

In Nigeria, the real estate industry is a bustling, dynamic space where transactions happen day in, day out. It’s a world of opportunities and challenges, a sphere where property owners, agents, and buyers converge, each with their own unique set of needs and aspirations. But what if we told you that all these real estate

Evolutions have always been synonymous with great change, transforming landscapes, and altering the course of history. Well, the real estate industry in Nigeria has certainly experienced its fair share of evolution The roots of real estate in Nigeria can be traced back to the pre-colonial era, where traditional societies had their unique land ownership systems.

Did you know that Nigeria’s population is to exceed 401 million by 2050? This was estimated by the United Nations. It’s a staggering figure that solidifies Nigeria’s position as one of the world’s most populous countries. But what does this mean for the real estate market? Well, the answer is clear: it’s about to experience