Real Estate News Update

REAL ESTATE NEWS UPDATE | FEBRUARY 13TH 2017

ASSE Nigeria chapter pledge to promote workplace safety

In line with the workplace culture of ‘safety first’,  members of the America Society of Safety Engineers, (ASSE)  Nigeria Chapter have pledged to promote safety in the Nigerian construction sector. President of the society, Herbert Nwaka who made this known emphasised the need to enforce safety in some of the critical sectors of the Nigerian economy for increased productivity.

In line with this, Nwaka said ASSE Nigeria has established a partnership with the United States Embassy and some other stakeholders towards hosting a safety summit in the country which will hold in Lagos next month in partnership with a real estate company- Brickwall group.

Th summit will be attended by Nigerian Society of Engineers (NSE),  international speakers and host of other dignitaries. President of the America Society of Safety Engineers, Thomas Cecich, is expected to attend the event, while the Minister of Works, Power and Housing, Babatunde Raji Fashola will chair the occasion.

Culled from the Guardian

FG plans N13b housing fund for civil servants

The Federal Government has announced plans open up a N13billion housing fund for civil servants as a way to bring a solution to the housing deficit in the nation. Although the plans are yet to be concretised, the Federal Government through the Head of Service of the Federation said the funds will soon be made available and would be disbursed to the Federal Government Staff Housing Loans.

According to the  Executive Secretary of Federal Government Staff Housing Loans Board, Dr Hannatu Fika, the N13 billion Housing fund scheme will be made accessible to beneficiaries, mainly civil servants, while those seeking for the loan of N5million will not pay equity contribution.

Workers taking loans above N5million are expected to pay 20 percent of N8million housing fund and 30 percent for N15million of the disbursed funds.

Culled from the Guardian

Shelter Afrique appoints Femi Adewole  as  Managing Director

Shelter Afrique, a Kenya-based pan-African finance institution has appointed Mr Femi Adewole as the Acting Managing Director. Mr.Femi Adewole was selected after the Board of Shelter-Afrique accepted the resignation of Mr James Mugerwa from the position of Managing Director with effect from February 1, 2017.

Mr Femi Adewole joined Shelter Afrique as Director, Business Development and Operations in June 2011 and has served Shelter Afrique for the past five years first in the same capacity and most recently as Director of Business Development. He has over 15 years of experience in construction/project finance in the UK and Nigeria and previously worked as Chief Executive Officer/MD for First World Communities in Lagos, Nigeria.

Adewole holds a BSC and MSC in Architecture from the University of Ife in Ile-Ife, Nigeria, an MBA from the University of Warwick Business School and an MSC in Land Management and Development from the University of East London.Under him, a new management team has been reconstituted with Mr Oumar Diop serving as Acting Deputy Managing Director while Mr Vipya Harawa retains his position as Company Secretary/Director of Legal, Risk, and Compliance.

Culled from the Guardian

NIQS seeks government support for building modelling technology

As the built sector continues to witness technological changes in building design and implementation, the Nigerian Institute of Quantity Surveyors (NIQS) has called on the government to support the development of Building Information Modeling (BIM) technology through funding and promulgation of appropriate legislation for the construction industry.The institute’s view was contained in a communiqué adopted at the end of a two-day national workshop on Building Information Modeling (BIM): Concept, Application and Benefits in Project development held in Port Harcourt, the Rivers State capital.

Building Information Modeling technology is an intelligent 3D model-based process that equips architecture, engineering, and construction professionals with the insight and tools to more efficiently plan, design, construct and manage buildings and infrastructure.The institute observed that since BIM has become a norm in the international construction, its impact will definitely creep into the country’s building industry, hence the need for changes in projects delivery methods.

The institute further urged professional bodies to collaborate with the National Universities Commission (NUC) and National Board for Technical Education (NBTE), to incorporate BIM into the curricular of various built environment programmes of higher institutions and professional bodies in Nigeria.

Culled from the Guardian

Senate promises passage of national building code

The Senate has promised a speedy passage of all necessary and important legal frameworks on the revised National Building Code. According to industry experts, this will curb the rising cases of building collapse in the country. Senate President, Bukola Saraki gave the assurance while declaring open the public hearing by the Senate Committee on Lands, Housing and Urban Development on “The Need to Prosecute Building Laws Violators”.

The Senate President noted that the forum would help the legislature provide a platform to undertake a detailed and thorough investigation with the engagement of all the relevant stakeholders with a view to finding a possible and lasting solution to these preventable housing disasters. He further said that it was important to purge the construction industry of all forms of unsafe and negligent acts in building construction processes.

The chairman of the committee on Lands, Housing and Urban Development, Senator Barnabas Gemade, stressed the need to prosecute building law violators in the country, saying that “the incessant building collapses in the country had to the huge loss of lives and property.

Culled from the Guardian

Property Developers to deliver $300 million Imperial City in 2021

Private property developers of the new  $300 million Lagos smart city, Imperial International Business City (IIBC) have promised to deliver the scheme in 2021. Reputed to be the first eco-friendly smart business city in Africa, the 200-hectare city, which is a Joint Venture between the Elegushi Royal Family and Channeldrill Resources Limited commenced in April 2016 with land reclamation, involving dredging between two and 2.5 metres above sea level.

Speaking on the progress made so far, the Chief Executive Officer (CEO) of Channeldrill, Mr. Femi Akioye said the future developments of the Lekki Free Trade Zone, would only increase the demand for comfortable homes within the axis.

Also speaking, Director Maritime Projects, Royal Haskoning DV, Mr. Roland Stive said the company is adopting a state of the art reclamation design without salt, coarse and angular quartz as well as flood resilient platform level, stable and sustainable waters edges and settlement control in the project.

Culled from the Guardian

LG Electronics to build $300M headquarter office

LG Electronics has planned to build a $300M Headquarters in New Jersey, United States. The 32,516 sqm building will allow the company to double its local employment to more than 1,000 by 2019. The project will feature a five-storey north wing and a four-storey south wing.

The LEED Gold certified campus has been designed to protect the scenic views of the Palisades, the woodlands and six wetlands on the 27-acre site in Englewood Cliffs, where LG will be increasing the green space by 50% and planting over 1,500 trees.

LG Electronics North America CEO William Cho says Englewood Cliffs has been home to LG in the United States for 30 years, it is the dream of the company to build  a world-class corporate campus that will support LG’s growth commitment to being a good corporate citizen focused on the environment.”It is expected that the project will create over 2,000 construction jobs in the region.

culled from worldconstructionnetwork

Construction work begins on $163M airport in Honduras

Construction work has begun on the new International Airport of Palmerola in Honduras. The $163M airport, proposed to be located in Comayagua, is expected to increase connectivity domestically while providing another transition point for international travellers. The new structure will include the Hernán Acosta Mejía Aviation School currently located in Tegucigalpa. The construction project will also involve the construction of a control tower, commercial areas, and ample parking space in addition to the seven distinct terminals for both domestic and international travel.

Honduras president Juan Orlando Hernández at the groundbreaking ceremony said  that the airport will open up economic development for Honduras, and the Central American market.

A consortium of local firm Inversiones EMCO and Flughafen Munchen, the operator of Germany’s Munich Airport, will lead the project, which is expected to be complete in 18 months. It will create 7,000 direct new jobs during construction work.

Culled from  worldconstructionnetwork

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