Wednesday August 5th, 2015
Wednesday August 5th, 2015

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Nigeria loses N10.5b annually to environmental challenges

  /   in Homes & Property 12:57 am   /   Comments

Nigeria loses about N10.5 billion annually to environmental challenges such as deforestation, drought and desertification, the Director General, National Agency for the Great Green Wall Program, Goni Ahmed has said.

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Developer partners foreign firm to build ‘cheaper’ modular houses

  /   in Homes & Property   /   Comments

Modular pix

AS Nigeria continues the search for alternative building solutions to bridge the nation’s widening housing gap, Messrs Alpha Mead Development Company, AMDC, has introduced a modular building system aimed at lowering the entry level for middle income home buyers in Nigeria.

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Falana seeks prosecution of ‘sharp players’ in building construction

  /   in Homes & Property 8:54 pm   /   Comments

Falana

AGAINST the backdrop of recurring incidents of collapsed buildings in the country, a front line lawyer and human rights activist, Mr Femi Falana has challenged built environment professionals to fish out those who cut corners in building constructions and in the process erect buildings that are dangerous for human habitation.

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Ex-banker sues Lagos lawmaker for trespass of Magodo property

  /   in Homes & Property, News   /   Comments

COURTnew

A retired banker, Mr. Mathias Chuma Muomah has dragged a member of the Lagos State House of Assembly, Mr. Bayo Osinowo popularly known as Pepper to the Lagos High Court, Ikeja for alleged trespass of his property situated at No 66 Adekunle Banjo Avenue, Off CMD Road, Shangisha.
Joined as defendants in the suit documented as ID/1154LMW/15, are Mr. Alaba Osunaike also known as Saipon, the Attorney -General of Lagos State and persons unknown.

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How to obtain loan from NHF scheme

  /   in Homes & Property, News   /   Comments

Vintage-eSTATE

The National Housing Fund (NHF) scheme was established by Act 3 of 1992 to enable Nigerians in all sectors of the economy, particularly those within the low and medium income levels who cannot afford commercial housing loans to own houses. But what are the criteria needed and the procedures required in order to be able to secure loans under the scheme?

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Land reforms, key to success of Buhari’s effort to revamp economy – Adediji

  /   in Homes & Property, News 2:12 am   /   Comments

Mr. Bode Adediji

That is not even a bad reflection because in all fairness, members of these allied professions -architects, quantity surveyors and engineers have what it takes by training and experience to actually play important roles in project management. But the reason why estate surveyors and valuers have been involved from day one is because, in the construction process, you don’t really allow or encourage a single professional to take on much responsibility in a given project without experiencing conflicts.

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Entrepreneur drags Lagos to court over Lekki land

  /   in Homes & Property, News   /   Comments

Akinwunmi Ambode

“Assuming but without conceding that the notices issued by the Defendants have been validly issued, a declaration that the portion of land opposite the Claimant’s plot (Plot 8, Block 138, Lekki Peninsula Residential Scheme 1, Lagos State) does not constitute Block 139, Lekki Scheme 1, Lagos State, but is a NEPA Reservation as provided under the Operative Development Plan in Plan No. LS/D/LA 516b forming part of the Claimant’s Certificate of Occupancy dated June 14, 1998 by virtue of the deed of assignment dated March 20, 2005″.

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Falana seeks prosecution of ‘sharp players’ in building construction

  /   in Homes & Property, News   /   Comments

Femi Falana, SAN

Falana who spoke at the 7th Annual Distinguished Lecture organised by the Lagos branch of the Nigerian Institute of Quantity Surveyors, NIQS in Lagos stated that instead of sanctions, such culprits should be made to face the full weight of the law. Speaking on “Leadership, Socio-Economic Impasse and Shortage of Infrastructural Development in Nigeria”, Falana charged quantity surveyors to “take control and rid yourselves of quacks who destroy the integrity of your profession before members of the public”.

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Lagos still predominantly rural — NIESV chairman

  /   in Homes & Property 12:50 am   /   Comments

boundary-bw-Lagos-and-Ogun

I see Lagos State, the Centre of Excellence and commercial nerve centre of Nigeria as mostly a rural area”. You may find it difficult to fathom this assertion, but it was made by a respected land professional – the new Chairman of the Lagos State branch of the Nigerian Institution of Estate Surveyors and Valuers, NIESV, Offiong Samuel Ukpong.

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Whither 2nd Niger bridge ..as contractors abandon site

  /   in Homes & Property   /   Comments

Onitsha-bridge1

IS the construction of a second bridge across the River Niger at Onitsha jinked? For how long will the Federal Government and other stakeholders continue to play politics with this all-important bridge considering the fact that the old bridge built over 50 years ago is now in a distressed condition? These posers were raised by distraught Nigerians who reacted to the alleged abandonment of work on the bridge by the contractors.

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Home Lottery presents second house to winner

  /   in Homes & Property, News 10:37 pm   /   Comments

L-R: Managing Director, Home Lottery Limited , Kelvin Otung, presenting the 2nd home wnner, Godwin Oji , while Pius Agbo, a relative of the winner looks on in the on-going Home Lottery Promo,   at  Gold Estate,  Ishefun  Road,  Ayobo,  Lagos  recently.

I used to tell my madam and colleagues in the office that I have won a house in the lottery promo being organised by Home Lottery but they would not believe me, but now that the house and the keys have been presented to me, I now believed that the lottery scheme is true”.

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Construction industry marks time, waiting for Buhari

  /   in Homes & Property 1:00 am   /   Comments

Road-construction

The triple combination of the inability of the Federal Government to roll out its economic policies, huge debt owed contractors and the advent of the rainy season, have brought activities in the nation’s construction industry to a near standstill.

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11 states at risk of flooding, NHSA report reveals

  /   in Homes & Property   /   Comments

Flood-at-Agbado-Crossing-Ogun-

No fewer that 11 states in Nigeria are at risk of flooding, according to the Nigerian Hydrological Agency, NHSA. The Agency which unveiled its 2015 Annual Flood Outlook has therefore advised the concerned states to come up with effective mitigation strategies, capable of preventing flooding within their territories.

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REDAN demands new housing policy to cater for ‘common’ people

  /   in Homes & Property   /   Comments

housing

THE National President, Real Estate Developers Association of Nigeria, REDAN, Rev. Ugochuckwu Chime has appealed to President Muhammadu Buhari to develop a new housing policy which will enable the common people, (the Talakawas) who voted him into power to have their own houses.

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Benefits of investing in real estate

  /   in Homes & Property, News 12:22 am   /   Comments

A highbrow house in Abuja

We have heard of stock market crashes and banks going bankrupt. Although real estate values often fall, it is not usually a very bad situation. In fact, even when property values fall, you would still earn rent income from the property. On the other hand, real estate is physical and tangible compared to stocks, bonds and many other intangible forms of investment. Both in times of high inflation, economic boom and bust, real estate investments remain robust and will most likely continue to earn you income. Very few other investment options can do the same.

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Don’t appoint retired judges, lawyers into arbitration panels – El-Rufai

  /   in Homes & Property, News 12:44 am   /   Comments

Elrufai-innaugural

The Kaduna StateGovernor, Mallam Nasir el-Rufai has warned the Quantity Surveyors Registration Board of Nigeria, QSRBN not to appoint retired judges and lawyers into its Arbitration panel. el-Rufai who gave the warning at the just concluded 5th Building and Construction Economic Roundtable in Abuja, noted that this is he only way to avoid prolonging proceedings unnecessarily.

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Experts explore arbitration as alternative dispute resolution in construction industry

  /   in Homes & Property, News   /   Comments

Road-construction

Against the backdrop of several litigations which hamper the speedy execution of construction contracts in Nigeria, built environment last week, canvassed the use of arbitration as an alternative means of resolving disputes in the construction industry. The experts who brainstormed at the 5th Building & Construction Economic Round Table, BCERT 5, organised by the Quantity Surveyors Registration Board of Nigeria, QSRBN in Abuja, made a strong case for arbitration as an alternative dispute resolution because it provides for technical matters to be handled by those with the requisite technical knowledge of the subject matter of the dispute.

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Tree planting: vehicle to drive environmental protection — Stakeholders

  /   in Homes & Property, News 12:47 am   /   Comments

forest

“This has made us focus on three priority areas which are; minimise carbon footprint, carbon offsetting, conservation and preservation of wildlife and biodiversity,” he said. He explained that FirsBank’s partnership with the NCF is strategic because NCF’s leadership role in promoting environmental conservation and sustainable development in Nigeria which ties in with the bank’s desire to see the environment sustained because it is a socially responsible entity.

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FMBN out with measures to encourage home ownership

  /   in Homes & Property, News   /   Comments

Essential-Homes-pix

In a bid to encourage increased access to the National Housing Fund, NHF, the Managing Director of Federal Mortgage Bank of Nigeria FMBN, Alhaji Gimba Ya’u Kumo has unveiled an initiative to better lots of existing and prospective house owners. The initiative christened FMBN Home Renovation Loan, FHRL is part of deliberate measures put together by the bank not only to increase the housing stock, but also to assist individuals who need funds to renovate their homes.

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N9.2bn cook stoves project pitches Environment Ministry against contractor

  /   in Homes & Property, News   /   Comments

Cooking Gas

The festering controversy trailing N9.2 billion cook stoves programme has taken a twist as the contractor, Messrs Integral Renewable Energy Service Limited, has dragged the Federal Ministry of Environment to court. Vanguard Homes & Property learnt that the contractor has already secured an ex-parte injunction to stop the revocation of the contract.

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NITP president calls for enforcement of EIA Act

  /   in Homes & Property, News   /   Comments

Considering that the EIA Act has been in active enforcement for well over two decades now, the time is apt for its review, especially now that global environmental issues are undergoing paradigm shifts in several cross sectoral areas like population and development, climate change and gender issues,”

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Lead Capital canvasses banking reforms to grow real estate market

  /   in Homes & Property, News 8:30 pm   /   Comments

Model of a house in Maccido Royal Estate, Abuja

“Opportunities in the real estate financing can be seen from the increasing population growth, rapid urbanisation and the growth of the middle class have spurred demand for real estate with the level of housing at only 2 dwelling units per thousand people compared to a rate of 8-10 dwelling units per thousand people as recommended by the United Nations. Nigeria has a population growth rate of 3 percent and a rural-urban migration rate of 5 per cent per annum. The rate of housing demand continues to exceed supply, presenting ample opportunities for growth and development”.

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Akintunde urges FM practitioners to sustain growth in real estate sector

  /   in Homes & Property, News 12:26 am   /   Comments

A real estate development... FM experts charged to sustain the growth of such investments

“Going by this revelation however, for Nigeria to meet its vision 2020 20, a lot still needs to be done in the areas of improved public infrastructure to drive the required positive change in the real estate and facilities management sub-sectors and the general living condition of the average Nigerian,”

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FG commences validation of reviewed EIA Act 1992

  /   in Homes & Property, News   /   Comments

Energy

“Environmental Impact Assessment is a tool for sustainable development. The primary purpose of the EIA is to ensure that environmental concerns are incorporated into any project planning, design and decision making. A successful updating of the Act will not only update the document to current realities but will serve as the beginning of better EIA administration where both the regulators and the regulated will have a clearer up and up to date document to work with,”

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Nigeria understands only breakdown maintenance – IFMA

  /   in Homes & Property, News   /   Comments

Nigeria's infrastructures

“I tend to a little bit disagree that Nigerians lack a maintenance culture, the reasons why we are unable to maintain our infrastructure, not even from government alone but even private is because from the word go, we get it all wrong. The kind of maintenance we know in Nigeria is breakdown maintenance, until it fails you don’t care whether it needs service or not,

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Lagos to investors: Follow due process in land acquisition or….

  /   in Homes & Property, News 6:38 pm   /   Comments

Akinwumi Ambode

“Another problem is that people don’t want their relatives to know that they have money so they tend to keep the whole process secret, forgetting that the biggest investment they can make in life is landed property. If you are engaging in that kind of investment, you must be ready to open up and seek legal counsel. Many buy land without telling people, while some buy without genuine documents”, the director lamented.

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AHCN seeks review of housing corporation laws

  /   in Homes & Property, News 7:15 pm   /   Comments

housing

The communiqué observed the lackadaisical attitude of governments to the National Housing Fund (NHF) as opposed to what obtained when the policy was newly introduced. It further called for all outstanding contributions to the NHF to be remitted while the statutory provisions of the National Housing Policy should be strictly enforced and applied along with the sanctions embedded in the policy.

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New roads emerge in Eko Atlantic City

  /   in Homes & Property, News 12:39 am   /   Comments

The Eko Atlantic new road

The promise of South Energyx Nigeria Ltd, developers of Eko Atlantic City to construct a congestion-free city that will not guarantee street parking and where traffic will flow freely, has been actualised with the development of main thoroughfares and access road in the upcoming city in Lagos. The Sales and Communications Executive, of Eko Atlantic City, Miss Valentina Halim disclosed this in a press statement.

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Killing the dream of Lekki’s founding fathers

  /   in Homes & Property, News   /   Comments

A luxury building in VGC. Inset. Mr. Yaakov Chai … Pioneered developments in the Lekki axis

The Lekki -Epe corridor in Lagos is unarguably, the fastest growing construction corridor in the Nigeria today. Almost all property investors, affluent Nigerians and those in the middle income bracket, want to build or own properties in this highbrow corridor. The once dreaded swampy neighbourhood became the toast of property investors following the visionary leadership of Mr. Yaakov Chai who presided over Messrs HFP Engineering Limited, the company that developed Victoria Garden City, VGC, the flagship luxury estate along the corridor.

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Experts list obstacles to provision of mass housing

  /   in Homes & Property, News   /   Comments

A Housing Estates in Lagos

Nigeria is said to have a deficit of about 17 million housing units. Although this staggering figure has been disputed by officials of the Federal Ministry of Lands, Housing and Urban Development and some prominent industry stakeholders, what cannot be controverted is the fact that most of the deficit are in the low -income category. What measures should be adopted to cater for the housing needs of this vulnerable segment of the society?

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Propertygate’s boss lists firm’s growth prospects

  /   in Homes & Property, News 11:39 pm   /   Comments

From left: Director, Propertygate Development and Investment Plc, Mr. Wole Ogungbola; Managing Director and Chief Executive Officer, Mr. Adetokunbo Ajayi and Company Secretary, Mrs. Tosin Arinola, during the company’s 6th Annual General Meeting, in Lagos.

The Managing Director/CEO of Propertygate Development and Investment Plc, Mr. Adetokunbo Ajayi has identified the competitive edge of the company despite the challenges facing the real estate sub-sector in Nigeria. Speaking at the company’s Annual General Meeting, AGM, Ajayi who listed the key growth factors. He said the company would continue to wax stronger irrespective of the challenges militating against the real estate sector.

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FCTA defies court, demolishes N85m property

  /   in Homes & Property, News   /   Comments

bulldozer demolishing illegal structures at Ladipo

In spite of a case pending in court, the Federal Capital Territory Administration, FCTA through its Development Control, last week, pulled down a structure owned by a a non-governmental organisation, Sustainable Health Initiative, SHI. The property which is worth N85million was located at Katampe District near Abuja City Centre.

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