Posts in category "news"

With the introduction of its "Homeowners Charter Program", the Ogun State government is poised to assist property owners in the State who hitherto have no valid land documents, to regularize their property/land documents. The Ogun State Ministry of Urban and Physical Planning asserts that this move will help rebuild the State by providing adequate data for the medium-term planning - provision of hospitals, roads, schools and other public infrastructures to the residents of the state. To this end, the Ogun State Government promises to waive 'all accrued penalties while fees will be discounted.

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If feelers from the Lagos State Government is anything to go by, the state is finally poised to relocate the ever popular Ikeja Computer Village to a new site, Katangowa Internet City, somewhere around Katangowa Market in Agbado, Oke-Odo area of Lagos State (Along the Abeokuta-Lagos expressway).

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There was so much excitement in the air several months ago when news filtered in that renowned global brands such as Wal-Mart, Woolworth et al were coming into Nigeria to do business.

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There is some cheery news for prospective home/house owners in Nigeria. Nigeria’s Federal Executive Council recently approved the request of the Minister of Finance, Dr. Ngozi Okonjo-Iweala, to secure a $300 million loan from the International Development Association Housing Projects in Nigeria. Housing demand exceeds its supply and this has a multiplier-effect on rents. It is estimated that Nigeria needs more than 700,000 housing units annually as against the current 100,000 units available.

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Amid the crave for modern shopping facilities by residents along the Lagos-Ibadan expressway, especially within Arepo neigbourhood, a property development and investment company, Messrs Lancelot Ventures has announced plans to construct a new complex in the middle class settlement in Ogun State.

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After sorting out all issues surrounding one of the outstanding but upcoming housing projects in Lagos State, the coast is now clear for the take off of the development, as indication emerged last week that the developer may soon move its contractors to site to deliver  ‘Modo Heights’ estate.

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Apparently bowing to the unrelenting clamour for the reform of the critical aspects of the nation’s mortgage system, the apex supervisory authority, Central Bank of Nigeria (CBN) may have began a clampdown on Primary Mortgage Banks (PMBs) that ceased to carry mortgage business for which they were licensed.

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A property magazine, Royalty International, created to serve the Real Estate, Building and Construction sector in Nigeria plans to introduce a special section known as ‘Millennium Housing’ segment.

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In a novel move to resuscitate its declining infrastructural fortunes, the Lagos State Government has mooted a scheme that will transform the Epe Marina Waterside faced with increasing squatter settlements.

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LAGOS-based 3Invest Limited has opened nominations for the forthcoming real estate awards billed for September in Lagos.

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