Real Estate

Institute Calls for Review of Town Planning Law

The Nigeria Institute of Town Planning (NITP) has called for the review of the 1992 Town Planning Law to enhance efficiency in urban planning.

The Acting National President of the institute, Mr Luka Achi, made the call recently in an interview with the News Agency of Nigeria in Abuja.

Achi said the review of the town planning law should ensure effective resource management and stipulation of the functions of the three tiers government.

MDAs to Benefit from Properties Seized from Looters

The Minister of Finance, Kemi Adeosun, said the Federal Government plans to relocate some of its Ministries, Agencies and Departments (MDA) into some recovered looted properties.

Adeosun said this on Friday in Abuja while briefing newsmen after the Steering Committee of the Efficiency Unit meeting.

The News Agency of Nigeria recalls that the country's anti-graft agencies had over the last year, seized billions of naira in cash and properties from alleged corrupt public officials.

Expert Calls for Coordination among Stakeholders to Avert Building Collapse

A construction and safety expert, Kamil Abiodun, on Thursday called for coordination among stakeholders in the construction industry to reduce incidence of building collapse.

Abiodun, a former President of American Society of Safety Engineers, Nigeria Chapter (ASSE-NC), made the call in an interview in Lagos.

"There is need for proper coordination among contractors, clients and workforce in terms of communication and engagement on the various work flows towards the success of a project.

"However, this is lacking in Nigeria's construction industry.

New York's $500k a Month Rental

It's no secret that Manhattan rents are expensive. But the most expensive rental in the city will set you back a whopping $500,000 a month, CNN reports.

The six-bedroom apartment spans 4,786 square feet and takes up the entire 39th floor of The Pierre Building on the Upper East Side.

The unit also comes fully furnished and offers 360-degree views of the city.

"The views are the very best you will ever have in an apartment on Fifth Avenue," said listing agent Andres Perea-Garzon at Compass.

Fuller Foundation Constructs Residential Houses for Low Income Earners at ₦1.6m

The Millard Fuller Foundation (MFF), a Non-Governmental Organisation, said it had constructed residential houses for low income earners resident in the FCT and its environs.

Sam Odia, Chief Executive Officer of the foundation, made the disclosure on Friday in Abuja while briefing newsmen on the campaign of the NGO called ``My Fuller My House.”

According to him, the campaign is aimed at servicing low income earners and bridging housing deficit in the FCT.

Lekki Free Zone Aims High

Lekki Free Zone near Lagos looks to offset some of the difficulties of investing in Nigeria by offering a safe, self-contained environment with varying tax and bureaucracy benefits. Chinese interest has been particularly strong so far, but the zone’s authorities are keen to attract investors from all over the world.

Engineer Urges Lagos Residents to Obtain Building Approvals

The Chairman, Apapa Chapter of the Nigerian Society of Engineers (NSE), Ola Taiwo, has called on Lagos residents to always obtain proper building approvals to help avert fire outbreaks.

According to Taiwo, the lack of proper approval and lack of fire sprinklers in building, as recommended by the government, have caused several avoidable fire outbreaks.

“What I will just implore our people to do is to ensure that they have proper building plans approved by the state government.

Bridging Housing Deficit in Nigeria via Housing, Mortgage Initiatives

By most accounts, shelter and food are the predominant needs of man.

However, observers insist that many Nigerians are still lacking decent accommodation in spite of the designed efforts of the government to provide shelter for the citizens, the News Agency of Nigeria reports.

For instance, the Federal Mortgage Bank of Nigeria (FMBN) initiated the National Housing Fund (NHF) scheme to facilitate the provision of houses to Nigeria and bridge the housing deficit in the country.

LafargeHolcim Sees ₦9b Savings in Nigeria by 2018

Lafarge Africa expects to generate cost saving synergies of 9 billion naira ($46 million) over the next three years in Nigeria, after its parent firm agreed to merge its business with Holcim in a plan to create the world's biggest cement maker, it said.

According to Reuters, Switzerland's Holcim and France's Lafarge agreed terms for their plan to create the world's top cement business in February.