Industry

News and happenings that matters in Nigeria’s real estate industry

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Improvements For Festac Residents
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Retail Real Estate Boom in 2014

Improvements For Festac Residents

Just like other countries, Nigeria is not a classless society; there is a form of segregation based on how much is in a man’s bank account. Most times, you will know which class someone belongs to by virtue of his or her investment in real estate. What properties do they own? Where do they reside?

Lagos may be a place for all classes of people, but not all Lagos cities are equal in real estate’s eye. FESTAC town is one of such places that are meant majorly for certain types of people. Improvements are on-going at the Festival town also known as FESTAC. FESTAC is known to harbour mostly middle/working class citizens. These set of people were the beneficiaries of the estate after it had served its purpose during the Festival of Arts and Culture hosted by Nigeria in 1977. Read More

Retail Real Estate Boom in 2014

For the average real estate consumers  and investors, 2014 heralded a better time in Nigeria’s real estate industry.

Last year, Nigeria became Africa’s largest economy with a GDP of $522.64 billion in the country’s 2014 Q3 release; this decidedly put the country on the top list of investors both local and international.  But to avid real estate investors, that isn’t the really amazing news; the year 2014 witnessed an expansion of Nigeria’s retail market on a large scale.

This is evident in the revolution of the real estate market especially with the influx of shopping malls and complexes. The advent of these malls have redefined Nigeria’s shopping culture and nuances of the consumers in both upper class and emerging middle class. Read More

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