Housing delivery system in Nigeria is a combination of many interrelated components which include land, infrastructure, building materials, policies, building regulations and more importantly the finance component. Finance in housing delivery is very important because of the huge financial requirement for housing production. Many researches have been conducted along this line by scholars in the building industry and suggestions were made on the need to strengthen the cooperative housing system in Nigeria in order to ameliorate problem of housing finance. Read More
New analysis from the Economist Intelligence Unit (EIU) has shown that Lagos maintained its position at #137 in a survey examining liveability conditions in 140 cities across the world. Similar to 2014, Lagos ranked with the likes of Damascus in Syria, Dhaka in Bangladesh and other cities in Zimbabwe and Libya.
The liveability score is reached through analysis of five category weights, that consider factors like Stability, Healthcare, Culture and Environment, Education and Infrastructure. These indicators are scored and weighted to produce a rating, where 100 means that liveability in a city is ideal and 1 means that it is intolerable. Lagos scored 39.7. Read More
A.T. Kearney’s 2015 African Retail Development Index (ARDI) placed Nigeria in 4th position, two places lower than its ranking in 2014 as a result of comparatively low true spending and difficult business environment. The Index covers the top 15 retail markets in Sub-Saharan Africa (SSA), ranking each on a 0 to 100 point scale, where a higher ranking means greater urgency to make an entry into the country. The scores were based on market attractiveness, country and business risk, market saturation and time pressure. Read More
The amount of office space under construction continues to grow as developers increasingly make bets that the requirements for prime office space in Lagos will rise. Some of the contractors/construction companies helping these developers build their assets have emerged as market leaders and this infographic seeks to illustrate this. Based on available data collected, this infographic ranks the contractors changing Lagos’ office skyline by number of office projects and size of leaseable office space under construction/constructed.
Over the past 5 years buildings like Churchgate 1 & 2, KPMG Tower, Eko Tower, Sapetro Tower, NITEL & Union House have defined Lagos’ office property skyline. New office development projects like the Civic Center Tower, Heritage Place, The Wings and Nestoil Tower among many others coming up across town are beginning to transform the city’s skyline. Read More
On Wednesday June 4th, 2015, the Inspector-General of Police (I-G), Mr Solomon Arase, mandated the Police Works Department to build 6,000 units for the junior officers in the force. Arase gave the mandate at a one-day workshop held for officers of the works department in Abuja.
The I-G, however, said that corrupt officers would not benefit from the project. He said 500 units of the houses should be located in each of the 12 Police Zonal Commands across the nation. Arase, who mandated the department to complete the houses in six months, said it was part of efforts to improve the welfare of junior officers. Read More
A loan, as we know are funds that organizations such as banks, lend to businesses/ individuals for different reasons. Applying for a loan means using Other People’s Money which is a very big deal in the world of financing. Getting a loan differs with every organization, there are however some processes you have to go through before you are deemed fit enough to be given that loan.
It is vital to prove that you are an upstanding citizen, honest and of high integrity. A dishonest person will often not be granted a loan.
Banks are in the business of giving loans and the more they loan to honest borrowers, the more profit they make. Read More
Sometimes we ignore the little things that matter in making our home right. The deal doesn’t just end at buying/renting a house. If you are human, you would care about what the inside of your home looks like and how it makes you feel. Questions like Is it welcoming? Is it comfortable? What mood does it portray? Would someone walk into your house and feel depressed by the colour setting? Or do you want someone to walk in and feel a sudden lifting in their spirits?
Perhaps you might be thinking that none of these is important, you might be thinking it does not matter but guess what? it does. Interior decoration is more important than we think. In fact, it is in a way, therapeutic. Read More
Many investors have lost money as a result of the interference of their emotions, many have also lost out on good deals because of these same emotions. For example, an investor might think that by buying a foreclosed property, he is putting someone out of their home. This is not necessarily so because in truth, by the time foreclosed properties/houses are sold, the occupant is long gone and possibly settled elsewhere.
Here’s a simple advice for investors, real estate investment like any other business must be done with a clear head devoid of emotions of any kind. Investors should be wary of property deals that look too good to be true because in cases like that, they usually are. If you invest in a too-good-to-be-true deal out of excitement, you might end up losing money. Read More
It is not beyond our notice that many beautiful houses adorn Abuja, Nigeria’s capital city. The fact that these houses have not impacted the lives of the masses has not also escaped us.
This essentially means that housing, shelter; which is one of human’s most basic needs has eluded the average Nigerian even when they are surrounded by many beautiful and well-constructed estates.
Truth is, not everyone will live in the estates mostly because of their financial status, which is why there are several satellite towns like Gwagwalada, Kubwa etc in Abuja which people can opt for. Read More
Every prospective client wants to have a peek at the integrity and professionalism of the agent who is in charge of the property they are about to buy or rent. Below is an interview with Mr Ogunbiyi Olusegun, one of Hutbay’s agents.
Company: Charis Global Resources
Years in the Business: A little over six years.
Q: What factors have contributed to the growth of your business?
A: I would say that the most important factors that have helped grow my business are tenacity, consistency and customer satisfaction. When your aim is to leave a happy and satisfied customer, you would always aim for the best. Read More