Tag - industry

1
Photos From The Sogenal Tower Launch
2
Beyond Banners – Real Estate as a Career
3
2016 Outlook on Lagos Housing Development
4
Lagos State Unveils Urban Development Projects for Megacity Initiative
5
Thinking of Getting a Mortgage In Nigeria? Important Things You Should Know
6
Tips to Becoming a Successful Estate Agent
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Lagos Ranked Among Least Liveable Cities Globally
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Nigeria falls to 4th Position in African Retail Index
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Nigeria’s Real Estate Sector Projected to Grow by 10% Annually
10
The Top Contractors Changing Lagos’ Office Skyline

Photos From The Sogenal Tower Launch

Sogenal Group and Eris Property Group on July 14th launched the Sogenal Tower Development in Lagos at the first of many events to be held in key cities across Africa and Europe.

The development, which will be located on the corner of Cameron and Kingsway (Alfred Rewane) Road, will offer 11,560sqm of Grade A leasable space spread out over 14 floors. Read More

Beyond Banners – Real Estate as a Career

This article was written by Chinwe Ajene Sagna and it first appeared on JLL’s blog.

There is a general misconception on careers in real estate. I recently spoke to a group of young people who spoke derisively about the profession, describing it as “hustlers who don’t even know the landlords and are going from house to house looking to make small change.” There are a number of these informal estate agents who at best have tenuous relationships with property owners and for the most part act as go-betweens between tenants and principal agents.

These agents interact with many people and end up serving as the public face of the industry, but this is not a true representation of our profession. When you go just below the surface, you find that there is more to a real estate career than hanging banners advertising a property “To Let” or “For Sale”. Read More

2016 Outlook on Lagos Housing Development

The real estate industry across Nigeria in Q1 of 2016 has performed generally below market expectations. Some attribute this to the prevailing economic conditions in the country especially the continued fall of the Naira against the Dollar, the limitation on access to forex placed by the government and the yet-to-be signed 2016 budget.

Download the ReportNotwithstanding the gloomy result of Q1 2016, Lagos, due to its sheer size, demands and economic leverage, will experience growth in 2016.

In this report, prepared by Residential Actions Company (RAC), the author focused on the Lagos real estate market and put pieces together than can be of great use to the real estate investor.

Download the report here: Spotlight On Lagos Housing Development Market [PDF]

Lagos State Unveils Urban Development Projects for Megacity Initiative

In a communique released on March 15th 2016, the Lagos State Government (LASG) unveiled plans to partner with suitable entities on a Public Private Partnership basis for the development of shopping malls, hotels, recreation parks, Zoos, theme parks and residential apartments. The LASG requested that entities with track record express interest in specific sites across the city, which are now available for development.

The effort is part of a Megacity Initiative where Lagos State is pushing to provide infrastructure and facilities that will enable the city cope with its large population. Read More

Thinking of Getting a Mortgage In Nigeria? Important Things You Should Know

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

Tips to Becoming a Successful Estate Agent

Real estate agency is a highly paying and rewarding business or job, but like any good things, it comes with a catch. There are too many real estate professionals who entered the business for what they perceive as easy big money commissions. Few months down the line,they find out the hard way that they’ve over-simplified what it will cost them to get, initiate and land deals. There are monetary costs and a lot of work is required to be successful.

Too many newbie real estate agents fall within their first year because they didn’t develop a plan and follow it for success in becoming a real estate agent.

The following are some of the “secrets” of  a successful real estate agent:

They return calls and emails at lightning speed: These are the people that get a lead and don’t let it go. They immediately make contact and they follow up. They answer any questions and are happy to stay on the phone with nervous clients. They are the warriors of email, text, and phone and they keep that rhythm right up through the whole transaction, one agent calls it his land, sea, and air approach, reaching out to clients through as many channels as possible in the beginning even using Skype.   Read More

Lagos Ranked Among Least Liveable Cities Globally

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

Nigeria falls to 4th Position in African Retail Index

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

Nigeria’s Real Estate Sector Projected to Grow by 10% Annually

The real estate sector have always been a growing sector and has recently become one of the most profitable sectors of the Nigerian economy. The growth rate of this sector in recent times can be attributed to various factors including an expanding middle class, foreign direct investment and others.

According to the Managing Director of The Infrastructure Bank (TIB), Mr Adekunle Oyinloye, while delivering a paper at a business forum in Lagos, the sector is expected to grow by 10 per cent annually in the next 10 years. He also stated that according to the Nigerian Bureau of Statistics, The Nigeria real estate market was valued at approximately N1.4 trillion in 2011 and has risen to N6.5 trillion in 2015. Read More

The Top Contractors Changing Lagos’ Office Skyline

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

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