REAL ESTATE NEWS UPDATE | FEBRUARY 6TH 2017

Lagos completes Ikeja Model City plan

The Lagos State Government has announced the completion of the revised Ikeja Model City Plan just as it harped on the determination to bequeath a sustainable, business and tourism-friendly environment to the people. Speaking at the presentation of the reviewed plan to stakeholders, the Commissioner for Physical Planning and Urban Development, Abiola Anifowoshe said the government is ready to welcome suggestions and ideas that would assist in the finalisation of the on-going revision of the Ikeja Model City Plan (MCP).

He Stated the State Government’s determination to produce Strategic Master Plans for the whole of Lagos as envisioned in the Lagos State Development Plan (2012-2025). The commissioner revealed that out of the 12 new Development Plans being proposed for the State, 8 are already operational.

Culled from Lagos state.gov.ng

 

LafargeHolcim welcome more entries for $2 million construction awards

LafargeHolcim is calling for more entries from professionals and students in the fifth edition of the global award for sustainable construction. This is happening after the company received a total of 26 entries from Nigeria. Head, Sustainability and Corporate Brand, Lafarge Africa, Temitope Oguntokun said Nigerian engineers, architects, builders, constructions firms, project owners, students and organisations working in the built sector are eligible to apply.

The Lafarge-Holcim award is open to students and professionals in 90 countries where the group operates and is the most significant global competition in sustainable design. Entries for the global award, which focuses on sustainable construction and valued at $2 million commenced on July 4, 2016, and closes on March 21, 2017.

The LafargeHolcim construction award is relevant because with over 170 million population  Nigeria is growing rapidly and is projected to be the third biggest country in the world by 2030.Speaking on the entries, Lafarge Africa Group Managing Director, Michel Puchercos expressed delight that more Nigerians are tapping into the opportunity offered by the award. Kunle Adeyemi, an architect, won the Acknowledgement prize in 2014.

Culled from the Guardian

 

Experts call for information bank to aid real estate investment

Professionals in Nigeria’s real estate sector have been called upon to work with the National Bureau of Statistics (NBS) towards building a data bank in order to encourage Foreign Direct Investment (FDI). The availability of data will help to strengthen the housing sector, which needs information and data to help investors in Nigeria real estate.

Dr. Doyin Salami, a lecturer at the Lagos Business School who was the guest lecturer at 2017 Award Dinner organised by the Nigerian Chapter of the International Real Estate Federation (FIABCI), faulted the often quoted 17 million housing units deficit, saying that currently, there is no reliable data about housing in Nigeria. He stressed that although there are some data around the industry such figures do not give a national figure.

Dr. Salami expressed concerns that real estate has been shrinking and that will continue to happen in 2017 except there is a large turn-around in the economy as hoped for by the government. According to him, regardless of the state of the economy, there are still opportunities for investors.

Culled from the Guardian

Lagos plans new water treatment  plant

The Lagos State government has commenced the process of award of contract for the construction of Adiyan water treatment Plant Phase 11.  This is in line with the vision of the Ambode led the administration to provide improved water supply in Lagos State. On completion, the water treatment plant will have the installed capacity of producing 70 million gallons of water per day (70mgd) and will benefit about three million people.

The State Commissioner for Environment Babatunde Adejare, at a media briefing, said, approval has also been given for the development of 100 million gallons of water (100mgd) at Odomola water treatment and distribution network project to commence on Public Private Partnership basis. The commissioner explained that the government has intensified efforts to reposition the water corporation for more better service delivery.

Culled from the  Guardian

Hilbert hotel design inspired by broken sea ice

A Norwegian firm has won a competition to design a hotel on the Hakaniemi waterfront in Helsinki. The contest to design Hilbert’s Hotel was announced last year by the City of Helsinki, the Finnish Association of Architects and Jordanian bank AB Invest. According to the architect, the rooms of the hotel are “enveloped in a smooth continuous white glass skin that is in direct contrast to the surrounding, heavily punched masonry façades”.

The panels of the façade are “reminiscent of broken sea ice”. The external appearance of the project is designed to change throughout the day, and to become more transparent with guest occupancy, while “maintaining the monochromatic surface pattern”.

Speaking further about the design of the hotel, the architect says that the each room has a number of windows within the building pattern, of which one is openable.

Culled from Globalconstructionreview

 

Developer unveils plan for £95M housing project

London based residential property developer Telford Homes is set to redevelop the former London Electricity Board (LEB) building in Bethnal Green, East London into affordable housing. The property developer bought the development site from the London Borough of Tower Hamlets for £30.2M. Redevelopment of the 0.94-acre site at Cambridge Heath Road will provide commercial space in addition to the residential units. The project will involve an investment of about £95M.

According to Telford Homes’ CEO Jon Di-Stefano, the development fits perfectly with the company’s strategy of developing sites in non-prime locations where there is the lack of supply of new homes compared to significant demand from prospective owners and tenants.

Subject to planning permission, construction work is expected to begin on site in 2018 and be completed in 2021.

Culled from worldconstructionnetwork

Work begins on €300M hospital project in Finland

 

SRV Group Plc has begun construction of a new €300M hospital in Central Finland. According to the construction firm, the hospital will be four times larger than the main railway station in Helsinki. SRV construction Senior Vice President of operations in Finland Juha Toimela said the Hospital projects are some of the many ways the company helps in developing Helsinki’s urban centres.

Ilpo Kokkila, chairman of SRV’s board of directors, said the project’s employment impact is extensive, adding that and it will bring employment opportunities to the area in terms of construction, transport and subcontracting. At present, the site is employing around 100 people.

He said of the contractors operating at the Hospital Nova site, nearly 100% are Finnish, and of these nearly half come from the Central Finland area. Excavation work began in August 2016 and frame stage is currently in progress. Upon completion in 2020, the new hospital will replace all of the functions of the existing central hospital.

Culled from worldconstructionnetwork

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