Here is our weekly roundup of top real estate stories as curated by our research team. This compilation is updated weekly.
- The recently concluded Chevron Employees Multipurpose Cooperative Society (CEMCS) exhibition that took place in Lagos served as an opportunity for Buildcon Global Services Limited to reassure its customers of the best architectural designs and adoption of state of the art facilities in its construction. Projects the company will soon begin work on include Pracht Court in Ajah, Pracht Clusters at Chevron and another estate at Sangotedo in Lagos. Link
- Popular Nollywood actor, Jim Iyke, has through a series of Instagram posts and pictures dropped not-too-subtle hints that he is veering into real estate. This is after the acting veteran has set up other businesses in the manufacturing industry. Link
- The Federal Government has entered into a mortgage deal with Nigeria Mortgage Refinancing Company (NMRC) to provide affordable housing for 30,000 civil servants. The N13 billion deal which coming under the Federal Integrated Staff Housing programme (FISH) will deduct mortgage payments from the salaries selected civil servants. Link
- The Securities and Exchange Commission (SEC) has dissolved the board of Ikeja Hotels following the ever-lingering disputes in its boardroom. The move, which saw Chief Idigbe take over as interim Chairman, follows the ban on trading of the company’s shares by the Nigerian Stock Exchange late last year. Link
- Nigeria has been ranked third in Africa in terms number of hotels being currently built, an industry report has revealed. According to the report, Egypt comes on top with 54 projects followed by Morocco with 50 and Nigeria 34. Nigeria is also the only West African country in the top 10. Link
- The Nigeria Tourism Development Corporation (NTDC) has become an official member of the National Association of Nigerian Travel Agencies (NANTA). This move is expected to foster harmonious ties between government and the private sector with the overarching goal of making Nigeria the preferred tourism destination in Africa. Link
- CEO of Sujimoto, Sijibomi Ogundele, has opined that Nigeria still qualifies as the best location in Africa for real estate investment. This is in spite of the fact that the country is grappling with its first economic recession in almost 3 decades. He therefore urged investors to flock into the country’s real estate sector. Link
- Dubai Afrika‘s creative director, Tolulope Adesanmi, has lamented the sorry state of the nation’s tourism industry. According to him, the failure of the country to effectively tap into its tourism potentials has robbed the country of new jobs and improved revenue. Link
