Spirited to increase estate development and home ownership in Nigeria, the Federal Mortgage Bank of Nigeria (FMBN), has proposed a fresh initiative, which will usher in an Estate Development Guarantee (EDG) scheme
To maintain its position of competitiveness in the hospitability business, one of Africa’s largest and hotel group, Protea Hotels, has started the construction of a new three-storey hotel facility at the Alausa area of Lagos. Messer. Brick House Construction Limited is piloting the project as developers.
Barring any further hitches, the implementation of the 2003 Insurance Act that came into force recently may soon be kick-started by the insurance regulatory body, following a fresh effort to woo professional bodies in the building industry to back the implementation of the scheme within the construction sector.
Anticipation that cement price will crash, following a directive by President Goodluck Jonathan to the operatives to reduce cost of the products may have hit the rocks as Dangote Cement Plc, a major manufacturer, has unveiled a new price regime review, which pegged its prices to ₦1,600 per 50 kilogramme bag.
Ahead of plans to kick-start construction activities in its pet project, Messrs Propertymart has signed a contract with a building and civil engineering firm, PW Group to provide engineering services to a proposed estate- Propertymart Grenadines Homes within Citiview Estate, located at Arepo, Ogun State.
Bracing up for its goal of transforming Lagos metropolis into a megacity, the Lagos authorities have begun moves to construct two new shopping complexes under the Public Private Partnership (PPP) scheme.
Eighty-two private developers that applied for land under the private developer's scheme of the Lagos State government have been given approval for allocation, while 40 of them have already been issued allocation letter. Permanent Secretary, Lands Bureau, Mr. Hakeem Muri-Okunola has said.
Following the decline in few performance parameters, the Lagos State authorities have generated N13.23 billion, out of the projected N15.9 billion from the Land Bureau in the 2010 fiscal year, which is about 81.61 per cent of the budget provision for the period under review.