Professionals chart new course for real estate revival

This is not the best of times in the nation’s real estate sector, as it has continues to slide negative despite insinuations that the country has exited recession. For instance, in 2018, the sector witnessed downturns largely due to several factors ranging from government macro-economic policy to over-supply in commercial and retail sectors as well as inappropriate supply in the…

How off-takers are shaping real estate sector

Despite the rapid growth of ‘Grade A’ office developments in highbrow locations such as Lagos, Abuja, Port-Harcourt and other cities, investors are increasingly seeking ‘off-takers’ in their property developments. Research show that ‘off-taking’ is becoming the norm where the demand for business space is hottest and it accounted for over 20 percent or a greater proportion of the office demand…

‘Why planning revolution is critical for cities of the future’

With two-thirds of people expected to live in cities by 2050 and urban areas accounting for 70 per cent of the emissions that are propelling the planet into a climate unknown, the challenge is both clear and urgent: cities must be reimagined. In a report this year, the International Resource Panel said cities must be low-carbon, resource-efficient and socially just….

Convention seeks use of wetlands to tackle climate change

With time running out to reduce global carbon emissions by 45 per cent before 2030 and limit global warming to well below 2°C, The Ramsar Convention said wetlands provide a natural solution to making a daunting task more achievable. According to the convention, harnessing of the power of the planet’s most effective carbon sinks, wetlands in national and global efforts…

Nigeria cities burdened by inadequate planning, urbanisation

Although housing has continued to pose severe challenges in many parts of the country, the problems are however more peculiar and severe in Nigerian cities. With uneven distribution of goods, services and infrastructure, some of the cities have become major hub offering more prospects for citizens who are forced to migrate for greener pastures. The true scale of the…

Government picks nine properties for pilot maintenance scheme

The Federal government has picked nine buildings for pilot maintenance under its national maintenance framework on public buildings in the country. The buildings selected include, a Federal government college, a Federal Hospital, a Federal Court building, a federal prison, a federal secretariat and the Ministry of Power, Works and Housing office buildings at its headquarters in Mabushi among others. Minister for…

‘Climate change is biggest threat to global economy’

The United Nations Secretary-General, António Guterres has warned that climate change was the most important global systemic threat in relation to the global economy that required a unified response in the form of inclusive multilateralism involving all parts of society. Speaking to leaders at the World Economic Forum in Davos last week in Davos, the UN’s top official addressed three main…

Private developers embracing affordable Housing

Affordable housing is becoming the next frontier in the campaign to reduce the deficit in the housing sector, and investors are embracing the new trend.The trend offers opportunities across all jurisdictions and investors are up- scaling their investment in that area. But affordable offerings like studio apartments, one bedroom and two bedroom flats near the city centre have continued to…

Experts seek increased investment in real estate

Housing specialists have advised stakeholders to improve investment in the sector to mitigate existing deficits and create more affordable homes for Nigerians. They spoke at the 2018 end of year programme organised by Brit Property Nigeria Limited in Lagos. According to them, investment in Real Estate gives good returns than other investment instruments in the country. The Chief Executive Officer,…

Concerns over high charges in informal property rentals

High cost of commercial property rentals and other associated charges are staving off entrepreneurial spirit among prospective small business owners who need shops and outlets to thrive in Lagos and environs. The Guardian’s investigation reveals that exorbitant charges in the name of ‘agents and agreements fees’ have become source of worry to many residents and disincentive to businesses. …