₦airaland Forum

Designed by Polish firm KWK Promes, the A
utofamily House is an experimental family home that explores a new entrance typology in suburban residences. The removal of traditional boundaries between living space and garage created an opportunity for this unique multifunctional decorated space designed for both pedestrians and eco-friendly automobiles.

Access to the 990-square-meter Autofamily House starts at the south-end entrance, where a ramped driveway leads automobiles up into the living room located three meters above ground level. The multifunctional covered driveway is ...

http://www.estatetimesnigeria.com/innovative-architecture-if-you-love-your-car-youll-love-this-garage/

The National President of Real Estate Developers Association of Nigeria (REDAN) Rev. Ugochukwu Chime has assured that the association will ensure that the problems of building collapse, sub-standard buildings and other related problems occasioned in the building construction by developers are checked to bring sanity in residential construction.

Banana IslandRev. Ugo gave this promise at a workshop with the theme, “Standardization of processes and product in residential construction” held in Calabar. He said that REDAN has also decided to partner with financial institutions to provide members with construction finance to deliver mass and affordable residential housing to Nigerians.
He said, “Our quest is to ...


http://www.estatetimesnigeria.com/redan-re-emphasises-qualitative-and-affordable-housing-delivery/

My recent visit to Lagos has changed my perception of Nigeria’s commercial capital. I can see that the Lagos State government is putting a great emphasis on improving the quality of life of Lagosians. The city is now relatively peaceful and green, while the traffic police tries to turn chaos into order. Efforts to clean up the city are noticeable.

Easing congestion

During my research trips to other African countries, I spent a lot of time stuck in traffic. While Lagos used to be no different, I was surprised how easy it was to move through its streets this time round. I may have been lucky, or perhaps scheduled my meetings countercyclical to rush hour, but overall, even when I was stuck in the car, it generally never took very long to get out of it. This contrasted with my recent experiences in Nairobi, where I once spent seven hours stuck in traffic versus four hours in meetings one day.

Outside Parkview HighriseThe reason why Lagos’ traffic has improved is down to the uncompromising stance of the government. First, it ...

http://www.estatetimesnigeria.com/the-changing-face-of-lagos-a-foreigners-perspective/

IN compliance with its constitution, Mortgage Banking Association of Nigeria (MBAN) recently re-elected the Managing Director, Homebase Mortgage Bank Limited, Dr. Femi Johnson as President.

The Bi-ennial General Meeting and programme was held at the Main Auditorium/Ijewere Hall of Chartered Institute of Bankers of Nigeria (CIBN), while the Extra Ordinary General Meeting/Bye Elections was concluded at Virginrose Resort, Victoria Island, all in Lagos. In a statement by MBAN Executive Secretary, Mr. Kayode Omotoso, the association assured other ...


http://www.estatetimesnigeria.com/johnson-re-elected-mortgeage-bankers-association-of-nigeria-president/

Iyabo Ogunde, Kolawole Kehinde and Kehinde Kenku all former workers with the Lagos State Lands Bureau have been penalized accordingly for their involvement in cases of fraud and gross abuse of office. While Ogunde and Kehinde were dismissed from office, Kenke who only aided the fraud had his appointment terminated.

In January this year, they were said to have swindled one Mrs. Adunbarin Abimbola to the tune of over N49M on the pretext of helping her pay for land charges which they diverted for their own use.

Sheraton 1The said Mrs. Abimbola, who works at Braintrust Legal Practitioners, had come to the headquarters of the Bureau to perfect the legal mortgage on the properties of their clients when she fell prey...

http://www.estatetimesnigeria.com/49m-land-fraud-perpetrators-caught-at-alausa/

Nigerians would continue to pay more for accommodation in major cities until the cost of building materials is subsidised through tax holiday. This is the submission of the Executive Secretary of Association of Town Planning Consultants of Nigeria (ATOPCON) , Mr Ayo Adejumo.

The instability in the price of building materials, he posited, is a direct result of high taxes which in turn impacts on the cost of accommodation in major cities across the country.

According to him, many completed housing estates had remained unoccupied because of the high rental and sale prices attached to them as against the meager income of the average Nigerian workers. He also added that if government can revitalise our industrial base, the cost of building materials will come down and many more people would be able to build houses...

http://www.estatetimesnigeria.com/tax-holiday-on-building-materials-will-reduce-housing-cost-adejumo/

The Ogun State Government has re-echoed the discount rate of the homeowners’ charter initiated by the State Government to bring succour to the citizen of the state through regularization and documentation of their properties.

The Special Adviser/Director General, Bureau of Lands and Survey, Mr. Adewale Oshinowo, revealed that some people were trying to hijack the programme through fraudulent acts. He told journalists in his office at Oke–Mosan that the building plan approval under the homeowners’ charter programme is N20,000 with discount of N255,000. Survey plan of N20,000 instead of N60,000, stamp duty N20,000 and Certificate of Occupancy (C of O) is N35,000 respectively...

http://www.estatetimesnigeria.com/homeowners-charter-ogun-govt-re-emphasise-discount-documentation-rates/

Contrary to earlier prediction of a lull and investor-apathy in the property market during and after the general elections in Nigeria, the market surprisingly remained upbeat with prices remaining stable and homebuyers still taking up new homes.

The prevailing situation in the market, which was least expected, reaffirms the market’s resilience and growth story in recent time, typifying a positive response to supply-demand dynamics.

Fears of a possible violence in the aftermath of the most keenly contested election since the return of democracy in 1999, had occasioned political and economic uncertainty in the country with most homebuyers opting to play the wait-and-see game before making key investment decisions.

http://www.estatetimesnigeria.com/investor-confidence-in-nigerian-real-estate-sector-stable-despite-election-fears/

With the Lagos Gubernatorial Elections expected to be slugged out today between two main contenders, Jimi Agbaje of PDP and Akinwumni Ambode of APC, we would like to embark on a fact presenting exercise to see which candidate may be better for Lagos’ real estate sector based on what was presented in their manifestos and more.

Both Manifesto’s are laid out first, then commentary and analysis follows...
http://www.estatetimesnigeria.com/agbaje-or-ambode-whos-better-for-real-estate-in-lagos/

Africa’s leading indigenous conglomerate, Dangote Industries Limited, has announced a multi-million dollar Joint Venture agreement with Saipem, the Italian engineering and construction giants.

The agreement has given birth to a new company named Saipem-Dangote E&C.

Saipem Dangote E&C is a significant new player in the Nigerian and Central/West African market, with high technical and financial capabilities. It aims to secure complex Engineering & Construction projects and ensure a realization capacity focused on efficiency, in terms of costs and timing, and flexibility, in order to respond to different needs related to specific projects, to local content and to the Country’s context.

Saipem and Dangote Group have a track record of successful collaboration, drawing on the strengths and competences of both Companies.

http://www.estatetimesnigeria.com/dangote-saipem-announce-joint-venture-in-central-west-africa/

Governor’s Consent: Procedure, Documents & Requirements Simplified

Section 22 of the Land Use Act 1978 is instructive on an Assignee’s inevitable need to apply to the Lagos State Governor for consent. It provides that “ It shall not be lawful for the holder of a statutory right of occupancy granted by the Governor to alienate his right of occupancy or any part thereof by assignment, mortgage, transfer of possession ,sub-lease or otherwise … without the consent of the Governor.”

The concept of “consent” has been shrouded in misunderstanding and misconceptions. One may be inclined to wonder why consent to consummate a land transaction must be obtained; most especially and specifically from the “Governor”. The Land Use Act states that “All land in urban areas shall be under the control and management of the Governor of each state”. It would appear that in land matters the powers of the Governor are similar to that of a “landlord” while traditional land owners, assignees, mortgagors, mortgagees, predecessors & successors-in-title to land are “Tenants”. Simply put, every landowner is a tenant to the Governor.

When is consent required?

Most persons are often of the misguided belief that the ultimate document obtainable from the Governor subsequent to the filing of a Deed of Assignment at the Lands Registry is a “certificate of occupancy.” This is not entirely true. The following are the conditions under which one applies for consent and vice versa; a certificate of occupancy:

When the land in respect of which registration is required belongs to a traditional land owning family and falls within the Lagos State Government’s Gazette. Please note; “the Gazette is equivalent to a certificate of occupancy and confers rights on a land owning family that are similar to the rights conferred on the holder of a certificate of occupancy ”
The application for consent is imminent where the land and the documents that require registration have an existing certificate of occupancy; “one applies for consent when the land seller already has a certificate of occupancy”. This is so because “there can never be two certificates of occupancy on a specific piece or parcel of land. The following explains cases where Governor’s Consent would be needed:

http://www.estatetimesnigeria.com/governors-consent-procedure-documents-requirements-simplified/

The emergence of specialised research firms dedicated to gathering and analysis of data on Nigerian Real Estate sector is believed to be the dawn of a new era for the sector.

Rotimi Akinlose, is the Managing Director of Residential Auctions Company (RAC), a new but authoritative research firm focused on the Nigerian Real Estate Sector. In this interview, he makes some rather surprising submissions concerning the sector, in the process, reaffirming the crucial role data can play in driving the sector’s growth.

http://www.estatetimesnigeria.com/nigerian-housing-deficit-40-million-not-17-million-akinlose/

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