Proffering lasting solutions to building collapse

Except government and stakeholders collaborate to nip corruption in the construction sector in the bud, consulting town planners said it would be difficult to eradicate building collapse menace in Nigeria. Dayo Ayeyemi reports   Worried by the menace of building collapse with attendant loss of life and property, reputation and integrity, among others, built environment experts under the auspices of Association of Town Planning Consultants of Nigeria (ATOPCON), Lagos chapter, are bent on promoting sustainable physical development by dealing with the issue of building failure. After a brainstorming session, they…

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Boosting capacity of real estate artisans

Effort to upturn loss of jobs for Nigeria’s nationals and loss of revenue to foreigners is receiving attention as both Lagos State and the Federal Government are up-scaling the capacity of construction sector artisans. Dayo Ayeyemi reports   Over the years, Nigerian artisans have demonstrated high level of professional incompetence over the years compared to their counterparts from some West African and Asian countries, including Ghana, Benin Republic ,Togo, China and India. Lack of capacity in terms of quality of jobs they churn out has become the weak point that…

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Tackling vacant property crisis

Fresh concerns on how to resolve the huge number of vacant houses in Nigerian cities are dominating the polity. Dayo Ayeyemi reports   A lot of luxury properties, built between four and six years ago, are still vacant in the property market, after one and half years Nigeria came out of economic recession. The empty houses are dominant in high-brow neighborhoods of Ikoyi and Lekki, Lagos; Government Reserve Area (GRA) 1,2,3 in Port Harcourt; and Asokoro, Maitama, Abuja. Some of these luxury properties came with high price tags, which have…

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‘How developers can access Family Homes Funds’

Many real estate developers who are bent on embracing the Federal Government initiative of providing affordable housing to low-income earners are seeking best ways to access the Family Homes Funds. To make this fulfilled, the Managing Director of Family Homes Funds, Mr Femi Adewole, has shed light on how developers could access financing under the scheme. Speaking in Lagos, he said FHF only provided finance for developers, who are building homes within the firm’s target cost indicators, adding that preference are given to developers building one-bedroom houses. He said: “We…

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Elections: Weighing options of smooth, deadlocked process

Barely four days to 2019 general elections, real estate experts, developers and investors are calling for a smooth process to forestall doom for the economy. DAYO AYEYEMI reports     As the general elections approach, real estate practitioners and investors have urged politicians, especially political office seekers and their supporters to tread with caution in order not to heat up the polity. Their advice is hinged on recent happenings during the ongoing nationwide political campaigns. Already, the tension is high, investors are suspending actions, while developers are putting on hold…

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Developer: How we’re solving housing issues

Currently, it will require building one million houses every year in the next 20 years to close the 17 million housing gap in the country, New Telegraph Besides, nothing less than N56 trillion would be needed to close Nigeria’s accommodation deficit. With little resources of government competing for many projects, private sector operators are taking it upon themselves to assist authorities in addressing some of these challenges. Taking the bull by the horns, Managing Director, Lifepage, Mr. Oladipo Clement, said his real estate and investment company, had plans to help…

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Property investment: Survey plans to the rescue

One of the most important documents for sustainable development in property acquisition is survey plan. Omission of this vital document and inability of individuals, companies and government to engage surveyors before, during and after physical project executions are responsible for low level of development in the country. Dayo Ayeyemi writes   Many individuals and business owners have got their fingers burnt in the process of acquiring land for development due to non engagement of surveyors. As simple as a survey plan may look, experts believe that anyone who ignores it…

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Okoli urges FIABCI to obey court order –Reinstatement

  Despite a subsisting order of a High Court in Nigeria directing the International Real Estate Federation (FIABCI), Nigeria chapter, to reinstate Mr. Emmanuel Osita Okoli to its membership list, the professional body is yet to carry out the order, New Telegraph has learnt For this reason, Okoli is calling on FIABCI to obey court orders. The order being disobeyed by FIABCI-Nigeria Chapter was the one made by the High Court in Ikeja directing the realtor body to reverse its expulsion of Okoli from the its fold without granting him…

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Housing deficit: Adopting modern technology

While most Nigerians are used to conventional building method of one sandcrete block at a time, findings revealed that adopting modern building technology, with short time delivery and large-scale production is needed to bridge the nation’s housing deficit. Dayo Ayeyemi reports     Currently, Nigeria reportedly has housing deficit of over 17 million units with many people living in deplorable conditions. While demand for houses has outnumbered supply, many home seekers could do anything just to own their very own houses. But this could change drastically if the country adopts…

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2018: Real estate negative as road construction steps up

While other sectors of the Nigeria economy are looking up, the real estate is still in recession, no thanks to the National Bureau of Statistics’ 2018 third quarter report. Dayo Ayeyemi reports.   In spite of government’s effort to revamp the economy and promote development in all sectors, the real estate industry’s growth is still negative. According to data from the National Bureau of Statistics (NBS), real estate contracted by -2.68 per cent in third quarter of 2018 as against -3.88 in second quarter. Many factors not limited to paucity…

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