Real Estate News

LASBCA: New Law Demands Authorization Letters for Developers

The Lagos State Building Control Agency insists that developers must secure a letter of authorization before beginning construction on any building in the state. Gbolahan Oki, the General Manager of the agency, emphasized this requirement during the presentation of authorization letters to developers of the Lagos Arena. Oki clarified that the letter of authorization can […]

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Enforcement of monthly rental policy to take effect before end of 2024— LASG

The Lagos State Government (LASG) has said that the enforcement of the monthly rent policy earlier announced would commence before the end of 2024. The Governor of Lagos State Governor of Lagos State, Babajide Sanwo-Olu, had in 2021 said the current one year upfront rental payment system where tenants pay in advance to property owners

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houses in Lagos-budget-friendly housing in Lagos

New Hope : 5,000 Housing Units Planned for Rivers State

A group known as Global Centre for Empowerment and Care for Life Challenges has disclosed its readiness to provide 5,000 housing units in Rivers State to reduce the suffering of the masses. The group added that it would do this through the promotion of advocacy and creating beneficial interest for the general public towards housing

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New Hike in Construction materials may lead to Building Collapse

The Building Collapse Prevention Guild has expressed concern about the rising prices of building materials potentially leading to an increase in the use of substandard goods, worsening building collapses in the country. Sulaimon Yusuf, the National President of BCPG, shared these worries during the BCPG Lagos State chapter’s recent sensitization walks themed “Walking towards Zero

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Housing Minister highlights new collaboration with Surveyors in Abuja.

The Federal Ministry of Housing and Urban Development has revealed its intention to collaborate with the Nigerian Institution of Surveyors on geographical data. Minister of Housing and Urban Development, Ahmed Dangiwa. CREDIT: Housing Ministry In a statement signed by the ministry’s Director of Information, Badamasi Haiba, Housing Minister Ahmed Dangiwa highlighted this partnership during a

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Radisson Hotel Group to Expand its African Portfolio with Eight New Hotels and 1,600+ Rooms

In 2023, Radisson Hotel Group, an international hotel chain, added 22 hotels, resorts, and serviced apartments in the Middle East and Africa, giving them over 3,800 new rooms. Globally, the hotel group increased its international portfolio by over 30,000 rooms across 10 brands. Since launching its transformation plan in 2018, the company has grown by

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Stakeholders Call for Tax Breaks to Boost Housing Growth

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

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Lagos Clamps Down on The Unauthorized Use Of Buildings

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

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A New Frontier: Real Estate Sector In Nigeria Eyes $2.26 Trillion Growth by 2024

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

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Nigeria Prioritizes Land Restoration Amid Climate Crisis

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

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