Houses for low-income earners coming as more developers align with FG’s new schemes

More than ever before, the Nigerian property market will, in the next 18-24 months, be receiving houses priced at purchasing capacity of low-income earners, especially families whose income is at that level. This expectation is hinged on the new Federal Government’s strategic partnership with privat... [More]

Government must interface with the private sector for its housing programme to succeed- REDAN President

Ugochukwu Chime, President, Real Estate Developers Association of Nigeria (REDAN), in this interview with JOHN OSADOLOR, speaks on germane issues relating to the development of the real estate sector of the Nigerian economy. Excerpt: What is the state of the Real Estate business in Nigeria today? Th... [More]

CBN to begin licensing of PAMCs with N10bn capital requirements

Central Bank of Nigeria (CBN) is set to license, regulate and supervise the Private Asset Management Companies (PAMCs) with paid-up capital requirement of N10 billion as contained in the exposure draft released on Tuesday. The PAMCs are expected to manage the risk assets of banking sector, which has... [More]

FCMB opens Flexx Hub at UNIBEN, creates platform for Youth

First City Monument Bank (FCMB) has opened a Flexx Hub at the University of Benin (UNIBEN) in Edo state. The Hub is a mini branch where basic banking transactions can be carried out, while also serving as an exclusive banking arena for FCMB’s customers who hold its youth account, known as Flexx. Thi... [More]

Need for lenders to increase adoption of digital banking

The most preferred bank transaction channel remains bank branches with 37 percent as revealed in the research conducted by Ciuci Consulting. The internet banking is second with 32 percent, indicating that deliberate actions need to be taken by banks to increase adoption of digital banking solutions.... [More]

Lagos seeks financial respite from private sector funding of housing

Lagos State Government hopes private sector funding of the development of the 618-unit Jubilee Estate in the Iganmu area of the state through its public private partnership (PPP) initiative will relieve it from the challenges of scarce financial resources, provide job opportunities and bringing a ma... [More]

Investors gain as land bureau reviews processes to enhance ease of doing business

Determined to improve on the World Bank’s low rating of Nigeria in Ease of Doing Business Index and attract more investors, the Lagos State Land Bureau has commenced reviewing processes in  its land administration to make acquisition faster, cheaper and more convenient for buyers/investors. This is ... [More]

Mixta Nigeria bullish in affordable housing amid challenging economic environment

As a demonstration of resilience in the face a very challenging economic environment that has crimped consumer purchasing power significantly, Mixta Nigeria remains committed and focused on its mission to deliver houses targeted at the affordable segment of the property market. Mixta Nigeria is the ... [More]

Prime office asking rents still trending downwards in major markets

In spite of the slight improvement in the macro-economic environment, averaging asking rents for A-Grade office space in the major markets, particularly Ikoyi and Victoria Island in Lagos,  are still on down ward trend. These locations account for over  80 percent of commercial official development ... [More]

Understanding fundamentals of real estate investment

When real estate professionals gathered recently for this year’s edition of Finer Wealth Series in an Ikoyi area of Lagos, top on the agenda was how to get millennials onto the property ladder by making them understand the fundamentals of investing in real estate as a viable asset class. The Finer W... [More]

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