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 […]
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 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 »
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
LASPPPA, a regulatory body in Lagos, is upset with developers who aren’t following its notices. According to a statement by Abimbola Emdin-Umeh, the Director of Public Affairs, some property owners and developers in Lagos State consistently ignore notices to stop construction or provide necessary planning permits. Kehinde Osinaike, the General Manager of LASPPA, expressed frustration
Nigeria, despite not facing armed conflict like some countries, has the highest homelessness rate in Africa. Around 24.4 million Nigerians lack a place to call home. Egypt follows with an estimated 12 million homeless people. Homelessness is a global issue, Africa included. While some regions face displacement due to conflicts, in Nigeria, urbanization and
Why Nigeria leads African countries where homelessness is highest Read More »
The Association of Estate Agents in Nigeria (AEAN) has teamed up with American realtors from the National Association of Realtors in the United States of America (NAR) to boost real estate investment and enhance Nigeria’s global presence. Their collaboration has led to plans for a conference in Lagos from April 9 – 12, 2024. Adeniyi
Partnership with NAR Signals New Era for Nigerian Real Estate Read More »
A recent report by Estate Intel has highlighted the state of Foreign Direct Investment (FDIs) in the real estate sectors of various African countries. The report points out that Nigeria is trailing behind Botswana and Morocco in attracting FDIs due to factors such as high inflation, a weakened naira, and expensive production costs. In
Amidst Inflation: Here Is Why Nigerian FDI Trails Botswana Read More »