Wednesday July 1st, 2015
Wednesday July 1st, 2015
Latest

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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Promoters may renew bid to licence Construction Development Bank

  /   in Homes & Property, News 12:48 am   /   Comments

Olusegun Ajanlekoko

“ If government, for example, redirects the policy on pensions funds towards long-term loanable investable funds, it will create the necessary funds that will be put into this kind of construction bank and it will yield a great effect on the whole nation. There are unclaimed dividends, huge resources. If one trillion Naira only from the pensions fund is used to invest in this long term construction development, it will change the entire country dramatically; just to use it to do our railways reconstruction and roads.

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Dubai property index negative first time in four years

  /   in Homes & Property, News   /   Comments

Apartment buildings in Dubai

Dubai property prices fell in April as a property index in the emirate turned negative for the first time in four years. The residential prices index started declining from the second quarter of last year – in line with the fall in oil and gold prices, according to Reidin, a property information company. The index dropped about 3 per cent in April from the same period last year, Reidin said.

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Environmentalists seek legislation to save earth from further degradation

  /   in Homes & Property, News   /   Comments

Volcanic eruption from Icelan sending ash across Europe and paralysing the aviation industry in the EU countries.

Environment stakeholders have called on all industrial concerns, business prompters and governments across the world to embark on sustainable use of earth resources for the betterment of mankind. The call was made during a one-day programme organised by SMEFUNDS, Carbon Credit Network in partnership with the World Bank and United Nations Environment Programme, UNEP to commemorate this year’s Earth Day.

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We laid enduring foundation in housing sector —Eyakenyi

  /   in Homes & Property, News   /   Comments

Mrs Akon Eyakenyi, former Minister of Lands, Housing & Urban Development.

Immediate past Minister of Lands, Housing and Urban Development, Mrs Akon Eyakenyi took a critical look at her one-year stewardship and posited that she had laid an enduring foundation for her successors to build upon. Eyakenyi who was emotional when she received board members of the parastatals in the ministry who came to bid her farewell, noted that although she came from outside the built environment, she was embraced and supported by all.

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Lagos gets material recovery facility

  /   in Homes & Property, News   /   Comments

Babatunde Raji Fashola

The Lagos state government has built the first ever Material Recovering Facility, MRF in the country. The MRF is a project undertaken by West Africa Energy Group in collaboration with the Lagos State Government aimed at ensuring environmental sustainability in the state through waste recycling and creation of small scale entrepreneurial schemes in the catchment area.

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Redevelopment of Enugu’s Hotel Presidential to gulp N4bn

  /   in Homes & Property, News 1:45 am   /   Comments

Hotel-Presidential,-Enugu

Hotel Presidential, Enugu, was one of the first post-independence iconic buildings built as part of the Late Dr. Michael Okpara’s industrialisation plan for the defunct Eastern region. Now, the hotel has been concessioned to Messrs E-Hospitality Services Limited, EHSL, with a mandate to bring the hotel back to life and upgrade it to world class standards.

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Kwankwaso commissions 108 housing units in FCT

  /   in Homes & Property, News   /   Comments

Housing

“The Evergreen Residences is an integrated real estate development project undertaken by Urban Shelter Limited in collaboration with the Kano State Pension Fund Trustees. “The landscape has also been transformed from clogged cluster of buildings to a collection of homes.” The Governor said Kano State Trust Fund Trustees is getting 20 housing units within the serene environment of Evergreen Residences.

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BCPG seeks measures to stem earthquake induced building collapse

  /   in Homes & Property, News   /   Comments

Sympathisers and rescue workers at 4, Mogaji Lane off Johnson Street, behind SCOA Building, Idumota, Lagos where a four-storey building collapsed, Tuesday night.  10 persons were killed in the collapsed structure while several others remained trapped in it yesterday. Photo: Bunmi Azeez

Against the backdrop of earthquakes sweeping across the world, the Building Collapse and Prevention Guild, BCPG has called on the in-coming Buhari-led administration to take proactive measures to stem the rising occurrence of building collapse in Nigeria. President of the Guild, Kunle Awobodu, a builder past chairman of Lagos state chapter of the Nigerian Institute of Building, NIOB, posited that “all efforts must be geared towards saving the nation from enormous calamity in the event of earthquake in future”.

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Revisiting the NLC, Good Homes partnership in housing delivery

  /   in Homes & Property, News   /   Comments

Prince Nicholas Ukachukwu, Chairman Good Homes

In this era of public – private partnerships, it is indeed remarkable that the Nigeria Labour Congress, NLC in conjunction with the Federal Government is partnering Good Homes Development Co. Ltd in the provision of affordable houses for Nigerian workers. For a start, under the arrangement, the company has commenced the construction of the initial 40,000 housing units for civil servants in Abuja, the Federal Capital Territory. It is expected that gradually the projects will be spread to the remaining 36 states of the federation.

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N500 billion debt: FOCI demands state of emergency in construction industry

  /   in Homes & Property, News   /   Comments

Reconstruction of Lagos-Ibadan express way... Contractors allege non-payment for completed projects (Inset): Mr. Solomon Ogunbusola, FOCI president.

Weighed down by huge debts owed its members by the three tiers of government, the Federation of Construction Industry, FOCI, the umbrella body for about 125 major construction companies operating in Nigeria, has called on the incoming Federal government to declare a state of emergency in the construction industry.

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PenCom set to issue guidelines on mortgage financing

  /   in Homes & Property, News 12:46 am   /   Comments

File Photo: Aged Pensioners waiting for their entitlement

“The most important thing is the allowances of the utilisation of the retirement savings balance for the provision of a primary home. For the first time, you are now able, as a contributor, to utilise part of your balance to secure your own primary home in accordance with the guidelines to be issued by the commission.

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Lagos unveils plan to rebuild Makoko

  /   in Homes & Property, News   /   Comments

makokohouse

“As a result of this, a lot of unplanned settlements and encroachments on both land and water by these immigrants have become a burden. The houses built on the Lagos lagoon overtime in the Makoko area continued unabated and soon became worrisome due to the speedy and fast encroachment on this waterway and further extension towards the PHCN high tension cable on the lagoon. Consequently, the ministry found it expedient to undertake a study of this development and tagged it ‘Houses on Water’,”

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Cornerstone partners foreign investors, expands operations

  /   in Homes & Property, News 12:20 am   /   Comments

A Housing Estates in Lagos

Cornerstone Real Estate Limited has taken its operations beyond the shores of Nigeria. The Lagos-based real estate development company said it is now in a position to buy, sell, lease or manage properties for Nigerians seeking such services in any part of the United States of America. The Chairman of the company, Mr. Lanre Okupe disclosed this last week at the investors tour of Cornerstone’s Oregun Housing Scheme located in Ikeja.

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$19bn e-waste illegally traded annually — UNEP

  /   in Homes & Property, News   /   Comments

waste-pix

Up to 90 per cent of the world’s electronic waste, worth nearly US $19 billion, is illegally traded or dumped each year, according to a report released last week by the United Nations Environment Programme, UNEP. Each year, the electronic industry – one of the world’s largest and fastest growing – generates up to 41 million tonnes of e-waste from goods such as computers and smart phones. Forecasts say that figure may reach 50 million tonnes already by 2017.

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Nigeria, 4 others selected as pilot countries for UN-Habitat’s award

  /   in Homes & Property, News   /   Comments

nigeria3

Nigeria, Cambodia, China, Tanzania and Thailand have been selected as pilot countries for the UN-Habitat and the International Ecological Safety Collaboration Organisation , IESCO Youth Innovation awards programme. The biennial youth award is being supported by China Development Orient Urban Development and Investment Company Limited , “CDB-ORIENT”, a major private sector organisation in China.

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