REAL ESTATE NEWS UPDATE | AUGUST 30TH

 Materials For National Housing Scheme Will Be Locally Sourced Says Fashola

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The Minister of Power, Works and Housing, Mr Babatunde Raji Fashola has expressed commitment of the Federal Government to get materials locally for the national housing project billed to take off this year. Mr Fashola said that getting materials locally would enhance local capacity and serve as a means of creating employment and sustainable development.

The Minister made this known while speaking at the 5th National Council on Lands, Housing and Urban Development, tagged “Building Adequate capacity of Professionals, Artisans and tradesmen in the Built Environment held at Ilorin, Kwara State.

Mr Fashola reaffirmed the Federal Government’s resolve to ban the importation of 10 building materials into the country to enable the growth of locally-produced ones. The affected materials are doors, windows, tiles, ceilings, plumbing accessories, cables, paint and iron,

Culled from Punch

 

Qatar’s Real Estate Price Drops despite Amazing Yields

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Reports from the Qatar Central Bank (QCB), reveals that Qatar’s nationwide real estate price index increased by 4.15% during the year-to-end-Q2 2016 in comparison to the 23.16% rise during the same period in 2015. During the latest quarter, real estate prices fell by 3.84%.

Qatari real estate has boomed for three years, due to rapid population growth and increase in construction activities in preparation for the 2022 FIFA World Cup. In 2013, the Qatari real estate price index rose by 20.6%. In 2014, the real estate price index rose rapidly by 34.7%. In 2015, real estate prices rose by 14.4% (10.8% in real terms) from the previous year. In 2015, transactions rose 10% by value to QAR56.13 billion (US$15.42 billion).

Massive construction in preparation for the 2022 FIFA World Cup has continued to push land prices up. In Central Doha and Al Rayyan, land prices have risen between 30% and 35% over the same period.

Culled from Globalpropertyguide

 

Governor Ambode Promises Quality Investment Drive in Lagos State

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The Governor of Lagos State, Mr Akinwunmi Ambode, has assured investors and residents of the state about his desire to create an enabling business environment in the state. He stated this at the opening of Novare Lekki Mall.

Mr Ambode said that his administration is committed to increasing the inflow of foreign direct investment (FDI) through investor-friendly reforms and provision of enabling environment for commerce. The Governor was represented by the Special Adviser on Commerce, Mr Benjamin Olabinjo.

Novare Real Estate Africa is an investment group involved in real estate property development across Africa, through the hybrid financing of debt and equity and driven by foreign direct investment.

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The Novare Lekki Mall, which is estimated at N31.5bn, sits upon 28,000m2 and 22,000m2 lettable area. The mall brings into Lagos, a direct investment worth $83m and it is currently the largest mall in Lagos with both local and international tenants.

Culled from Punch

 

Kwara offers land for FG housing scheme

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The Government of Kwara State has supported the plans of the Urban Mass Housing Scheme by making 10,000 hectares of land at Amoyo available for the Federal Government.

Announcing the plan, Governor Abdulfatah Ahmed, said the state government was constructing 1,000 houses under the Maigida Housing Scheme, in the new GRA, Budo-Osho Ilorin. The governor, while declaring open the 5th National Council on Lands, Housing and Urban Development, noted that adequate supply of qualified personnel in the building sector was critical to urban and development planning.

Ahmed stated that the state has established the International Vocational and Technical Education Centre, (IVTEC) Ajase Ipo, as part of its commitment to providing youths with functional skills and education to close the gaps in artisanal labour.

Culled from Todayng

 

Nigeria Shines At International Property Awards

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The architectural masterpiece – Nestoil Tower has won the coveted award for Best Commercial High-Rise Development, at the 2016 International Property.

The awards are to recognise excellence in the property industry globally and promote an international standard. Being a Grade “A” property, Nestoil Tower is outstanding in its location, and unique design. The building constructed by Julius Berger won in the LEED certified (silver category) and is energy efficient clearly stood out for the win.

The awards are the largest, most prestigious, and widely recognised programme throughout the regions and are judged by an independent panel of 70 industry experts.

Culled from the Guardian

 

Nigeria Now Listed On the List of Fragile States Says Soludo

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Former Governor of the Central Bank (CBN), Professor Charles Chukwuma Soludo has warned that unless the Buhari administration embarks on long-term structural economic measures to salvage the nation, the economy may hit the red line.

Soludo, who was the Guest Speaker at the 4th Progressive Governance Lecture, organised by the  All Progressives Congress (APC) governors in Kaduna, lamented the state of the economy, saying that Nigeria has now been listed 13th on the list of failed or fragile State under the current world economic index.“

Among the audience at the gathering, were the Vice President, Professor Yemi Osibanjo, and some dignitaries who also spoke on the socio-economic challenges facing the nation and steps being made to surmount the problems.

Culled from Thisday

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