Real Estate News Update

REAL ESTATE NEWS UPDATE | NOVEMBER 7TH

Cross River kickstarts construction of 134 km highway

Prof. Ben Ayade, Governor Cross River State

Prof. Ben Ayade, Governor Cross River State

Cross River State Governor, Ben Ayade, has commissioned the construction of the 134-kilometre Mfom-Okpoma-Imaje-Bekwarra-Obudu-Obanliku dual carriage road.

The Governor, represented by his deputy, Prof. Ivara Esu, at the ceremony, noted that the highway project will benefit the Cross River State Northern Senatorial District as the area lacked accessible roads.

In a statement by the State Government, the construction of the road is aimed at increasing access to the Obudu Ranch Resort as well as the transportation of farm produce to the markets. The trunk “A” road, estimated at N31 billion, will cut across five local government areas that make up the Northern Senatorial District of the state. The project is scheduled to be completed in 30 months.

Culled from The Punch

Nigerian construction specialist designs US President’s House

Lawrence Dibor

Lawrence Dibor

Lawrence Dibor, a Nigerian construction professional was among the team of professionals involved in the design and construction of the President’s House which  has become a historical monument in America.The building, is an outdoor structure located at Independence Square in the city of Philadelphia close to the Liberty Bell Pavilion. The building also served as residence and office for Presidents George Washington and John Adams.

According to Lawrence Dibor, his company was selected by the project’s architect on behalf of the National Park Service and the City of Philadelphia Department of Public Property to execute civil engineering and design services which included drawings and specifications.

Lawrence is a registered engineer and a director at the engineers club of Philadelphia.

Culled from Vanguard

NIA asks FG to invest in Social Housing

Mass Housing Project

A Mass Housing Project

The Nigerian Institute of Architects has called on the Federal Government to venture into the development of social housing as a solution to the country’s housing deficit. The NIA stated this during a courtesy visit by the body to the office of the Minister for Power, Works, and Housing, Mr. Babatunde Fashola.

The President, Nigerian Institute of Architects, Tonye Braide, explained that social housing was an area of interest for the body stating that the Institute has developed models such as the contributory scheme, which will provide a revolving housing finance for low income earners and the informal sector.

In his response, the Minister of Works, Housing and Power added that it is a welcome development that organisations were willing to help the Federal Government achieve the objectives of the National Housing Project.

Culled from The Guardian

Quantity Surveyors urge FG to secure loan for infrastructure projects

NIQS President Mercy Iyortyer

NIQS President Mercy Iyortyer

The Nigerian Institute of Quantity surveyors has asked the Federal Government to secure loan for infrastructure projects to help revive the building and construction industry.Speaking at a job fair organised by the Institute in Abuja, President, Nigerian Institute of Quantity Surveyors, Mrs. Mercy Iyortyer urged the government to engage professionals as part of prudent management of projects.

According to her, investment in the construction industry will have multiplier effects as it will create employment in various sectors of the economy. Speaking further, Iyortyer observed that the recession is having serious effects on the industry and encouraged the government to borrow money for infrastructure projects.

The NIQS organised the job fair to give job seekers an opportunity to meet and interact with prospective employers.

Culled from The Guardian

Springs Mall to open in March 2017

Springs Mall South Africa.jpg

Springs Mall South Africa

Developers of the world-class Springs Mall at Blue Crane Eco Park say that the Springs Mall will be officially open in 2017.When the 48,000sqm Springs Mall opens next year, it will be the only major mall in Springs, Ekurhuleni, in east of Gauteng.

The Springs mall is a joint venture between Blue Crane Eco Mall (Pty) Ltd, renowned shopping centre developers Flanagan & Gerard Property Development,Vukile Property Fund and Murinda Investments.

Anchor tenants at Springs Mall include Woolworths, Checkers, Edgars, Pick and Pay.

 Culled from eProperty News

Amdec plans to develop properties for Marriott International

Marriot Hotel

Marriot Hotel 

South Africa’s leading developer of New Urban lifestyles, Amdec Group, has confirmed it is developing a total of five hotel properties for the world’s leading hotel company, Marriott International in South Africa.

Amdec is investing R3bn into the development of these properties due to its growing relationship with Marriott International. This investment comes with  economic and employment benefits, during construction and long afterwards.

James Wilson, Amdec CEO says: “We are proud to pave the way for Marriott International’s growth plans in Africa. It is exciting to be part of creating new business opportunities for hospitality and tourism in South Africa, thereby providing investment and business opportunities for visitors and locals.

Culled from eProperty News

Climate change summit begins in Marrakech Morocco

Amina Mohammed

Nations will gather in Marrakech Morocco from today for the 22nd Conference of the Parties (COP22) to begin work on the rulebook and engage in sustainable pathway for developed countries to utilize the flow of $100 billion per year by 2020 in support of climate actions by developing nations.

The United Nations estimates reveals that achieving sustainable development will require $5-7 trillion a year, to fund the transition to a low-carbon, resilient world economy. To fulfill these investment needs, emphasis will be placed on funding options.

About 97 countries and civil groups including Nigeria will attend the climate change meeting. Nigeria’s delegation includes Minister of Environment, Amina Mohammed, experts, senior government officials and civil society groups.

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