₦airaland Forum

suave558:
Actions speaks louder

Without a doubt. The Manifesto will serve as a score-card if he gets elected.

On the 4th December 2014, Akinwunmi Ambode took a step forward in becoming Lagos's No 1 citizen as he emerged the winner of the All Progressives Congress (APC) Lagos State governorship primary election. Despite a total area of 3,577km sq (Lagos State is the smallest State in Nigeria), its population is estimated at about 20 million - equivalent of 32 African Countries combined crowning Lagos State as the sixth largest economy in Africa.

The economic outlook of the State is heavily dependent on the outcome of the coming elections in a few weeks time, due to potential change in policies and laws. As the APC Governorship Aspirant Akinwunmi Ambode unveils his manifesto for Lagos State, we review the impact it could have on the Lagos Real Estate market.

"...ECONOMY

Job Creation:

Establish an Employment Trust Fund with a commitment of N25b in four years by the government one billion naira to be accessed by each of the five divisions in the State for the next four years);

Ikorodu
Badagry
Ikeja
Lagos
Epe


SERVICES

Housing:

Expand Lagos Home Ownership Mortgage Scheme (HOMS) to target more people in the areas of need and affordability, thus using alternative technologies that reduce the cost of housing delivery in the State.
Pursue urban renewal schemes to reduce the menace of slums and enforce housing control laws and other regulations that will make the State attractive for everyone to live in.


WORKS/INFRASTRUCTURE

Integrated System:

Pursue a fully integrated transport management system that takes into consideration:

Roads (Pursue the mono-rail alternative as a means of mobility for the movement of our people in the sub-urban areas and commit to the completion of the on-going Blue-Line (CMS-Okoko maiko while ensuring the delivery of the red line (Ikeja-Agbado).
Air (Commit to the Lekki Airport project to reduce flight related congestion, stimulate commerce by establishing new real estates, businesses and tourism hubs in the axis).
Water (Advance public waterways transportation including provision of appropriate dredging and route management, security and rescue team to open the water corridor for advertising and investors)..."

http://www.naijavillas.com/the-future-of-lagos-real-estate-ambode/

On the 4th December 2014, Akinwunmi Ambode took a step forward in becoming Lagos's No 1 citizen as he emerged the winner of the All Progressives Congress (APC) Lagos State governorship primary election. Despite a total area of 3,577km sq (Lagos State is the smallest State in Nigeria), its population is estimated at about 20 million - equivalent of 32 African Countries combined crowning Lagos State as the sixth largest economy in Africa.

The economic outlook of the State is heavily dependent on the outcome of the coming elections in a few weeks time, due to potential change in policies and laws. As the APC Governorship Aspirant Akinwunmi Ambode unveils his manifesto for Lagos State, we review the impact it could have on the Lagos Real Estate market.

"...ECONOMY

Job Creation:

Establish an Employment Trust Fund with a commitment of N25b in four years by the government one billion naira to be accessed by each of the five divisions in the State for the next four years);

Ikorodu
Badagry
Ikeja
Lagos
Epe


SERVICES

Housing:

Expand Lagos Home Ownership Mortgage Scheme (HOMS) to target more people in the areas of need and affordability, thus using alternative technologies that reduce the cost of housing delivery in the State.
Pursue urban renewal schemes to reduce the menace of slums and enforce housing control laws and other regulations that will make the State attractive for everyone to live in.


WORKS/INFRASTRUCTURE

Integrated System:

Pursue a fully integrated transport management system that takes into consideration:

Roads (Pursue the mono-rail alternative as a means of mobility for the movement of our people in the sub-urban areas and commit to the completion of the on-going Blue-Line (CMS-Okoko maiko while ensuring the delivery of the red line (Ikeja-Agbado).
Air (Commit to the Lekki Airport project to reduce flight related congestion, stimulate commerce by establishing new real estates, businesses and tourism hubs in the axis).
Water (Advance public waterways transportation including provision of appropriate dredging and route management, security and rescue team to open the water corridor for advertising and investors)..."

http://www.naijavillas.com/the-future-of-lagos-real-estate-ambode/

100Cents:
What exactly is the purpose of the thread ?

Are you seeking investors ?

This thread is for informational purpose. So whether you are a Property Investor or Speculator, Retail store owner (looking for outlets in prime locations), seeking a place to rent with "modern amenities", or like me – wanting more cinemas in Lagos, this post can help people make better decisions.

I think funding for the malls has been sorted already with reputable developers like UAC Property Development Company, RMB Westport, Purple Capital Partners limited etc

pimplucious:
Festival Mall
Cost: N5 billion
Size: 12,727 square meters (10,000 square meters letting space)
Parking space: 850 car parking spaces

Maryland Mall -
Cost: N20 billion
Size: 10,000 square meters (7,000 square meters letting space)
Parking space: 219 car parking spaces

Notice how Festival mall in festac is bigger than Maryland Mall but cost lesser?

The aesthetics of festac Mall isn't going to be all that I guess

The difference in cost is huge!!! I am not sure if the old Maryland Mall was demolished thereby blowing up costs. We will all visit both malls soon to shop (and compare aesthetics)

wizard007:
Dem don complete the festival mall?

It was supposed to be completed late 2014 but it has been postponed to mid 2015.

There is some allure with Malls/Shopping Centres that brings the right social etiquette in us, to the extent of dressing up – just to buy a few items. They are also hangout zones due to the range of retail outlets. With a bulging population of about 20 million residents in Lagos, one can only mention a handful of Malls/Shopping Centres like Ikeja City Mall (Ikeja), E-Centre (Yaba), Adeniran Ogunsanya Shopping Mall (Surulere), Silverbird Galleria (Victoria Island) and Palms Mall (Lekki). This excludes several areas like Ikorodu, Maryland, Festac, Egbeda, Ajah where Malls/Shopping Centres are equally needed due to the increasing number of the middle-clas population.

Thankfully, God has answered our prayers (at least for some) as more Malls/Shopping Centres are coming to Lagos. So whether you are a Property Investor or Speculator, Retail store owner (looking for outlets in prime locations) – pay attention to the following upcoming developments whose presence will transform their areas and neighboring areas, driving property prices northwards. Or if you are like me, you are addicted to the large screens of cinemas, be aware of such conveniences coming soon.

Festival Mall - (premises of Golden Tullip Hotel)
Neighboring areas: Festac, Amuwo-Odofin, Okota, Mile 2, Navy Town, Satellite Town
Completion date: June 2014
Cost: N5 billion
Size: 12,727 square meters (10,000 square meters letting space)
Parking space: 850 car parking spaces
Tenants: Shoprite, Silver-bird cinemas
Developer: UPDC

Maryland Mall - Old Maryland Plaza on Ikorodu Road in the Maryland area of Lagos
Neighboring areas: Mende, Anthony, Ilupeju, Ojota, Ikeja GRA, Oshodi and Gbagada
Completion date: December 2015
Cost: N20 billion
Size: 10,000 square meters (7,000 square meters letting space)
Parking space: 219 car parking spaces
Tenants: Shoprite, Stanbic IBTC Bank, Genesis Deluxe Cinema
Developers: Purple Capital Partners limited & Network Hotels Limited

Lekki Mall - Intersection of Lekki-Epe Expressway and Springville Road. Ajah (close to Crown Estate)
Neighboring areas: Pan Atlantic University, Lagos Business School, Lakowe Lakes Golf Estate and the proposed Lekki International Airport
Completion date: April 2016
Cost: N14 billion ($83 million)
Size: 22,000 square meter gross leaseable area – biggest mall in Lagos at delivery
Tenants: Shoprite, Game, Adidas, Lifemate, Puma, Swatch, Celio, KFC, Wakaberry, Mr Price, Inglot, Samsung
Developers: Novare Property Development

Royal Gardens Mall - Ajah, by Royal Gardens Estate, directly facing Lekki-Epe expressway
Neighboring areas: Pan Atlantic University, Lagos Business School, Lakowe Lakes Golf Estate
Completion date: 2017
Cost: N29 billion ($170 million)
Size: 64,000 square meters (30,000 square meters letting space)
Developers: RMB Westport and Trojan Estates Limited
This would be the biggest shopping mall in Nigeria

http://www.naijavillas.com/malls-coming-to-lagos/

In terms of blocks, a 3-bedroom structure should use roughly 3,500 blocks.

At a rate of N140 per block, that equates to N490,000.

Incase the sums seem overwhelming, the construction can be done at different stages, with little regular contributions. If you decide to wait until you have N5million before starting, i just may never happen. My Uncle as an artisan never spent more than N25,000 at a go (before roofing) and eventually completed a 3-bedroom bungalow. He's currently plastering a twin 3-bedroom structure (gulping about 5,000 blocks).

It’s time to renew your rent or to secure a new apartment. Rent prices in Lagos are usually dependent on several factors like Location – Homes in Ikoyi will naturally command high rent prices than Ikorodu. The Size of the House also determines rental prices – a 2-bedroom apartment would be cheaper than a Duplex in the same area, all things been equal. Also Infrastructure plays a major role particularly with the growing number of middle class. Homes in well laid out Estates, with tarred roads and 24-hour electricity are usual priced at premium rates.

Most rules advise that your rent should not exceed 1/3 of your annual salary. Personally I would advocate a maximum of 3 months salary. The idea is not for one to be unnecessarily constricted but to free up more income for other expenditures, most importantly – Savings and Investments. Income/Savings is usually the most important factor when choosing a place to live based on affordability. Thus, the higher your disposable income, the more areas are available to you to rent a home in Lagos. Here’s a rough rent guide to Lagos based on your earning power.

Low income earner
Less than N80,000 per month

Iyana Ipaja
Egbeda
Ikotun
Ikorodu
Epe


Middle income earner
N150,000 to N500,000 per month

Ajah
Maryland
Ketu
Magodo Isheri
Gbagada
Yaba
Surulere


High income earner
N650,000 to N1,000,000 per month

Lekki
Ikeja GRA
Ogudu GRA
Apapa GRA
Magodo Shangisha


Ultra Income earner a.k.a Biggest Boys (and Girls) - This segment screams of opulence soaked in sheer luxury, with an unrepentant air of exclusivity.
More than N2.5million per month

Ikoyi/Banana Island
Victoria Island



http://www.naijavillas.com/

Ademat7:
Good Qs, may I tell u like sum1 has rightly said dat you need to sit down ur mind to think very well(prayer inclusive)draw a career path for yourself and look what it will take to achieve it, Msc is good when ur dream demand it but become frustration when u do it because u can't find a job. I got lot of them I my department doing masters but u can c frustration in their life... If u want to do biz let it always b in ur career path hence frustration is inevitable. *my 2kobo*

Exactly my point. Microbiology is not the most the marketing course in the Employment market so there has to be career planning, coupled with passion.

@Abduletudaye - If you interest and passion lies with Microbiology, you can do a Masters degree to broaden your knowledge and enhance your profile. Some unis offering the course are:

Niger Delta University - M.Sc. Applied Microbiology
Bayero University - M.Sc. Microbiology
Madonna University - M.Sc. Microbiology
Igbinedion University - M.Sc. Microbiology
Covenant University- M.Sc. Microbiology
Joseph Ayo Babalola University - M.Sc. Microbiology - Medical Microbiology
Joseph Ayo Babalola University - M.Sc. Food and Industrial Microbiology
Joseph Ayo Babalola University - M.Sc. Microbiology - Environmental Microbiology
Ambrose Alli University - M.Sc. Mycology/Plant Pathology

Pls only enrol on any of these courses if you are 100% happy and content with Microbiology.

donroxy:
...Really, I love Ilorin for her Harmony, Serenity and Tranquilty ..... If you are Rich , you will enjoy life to the fullest and if you are poor , you will adequately find your level !!!

Gbam!!!

barackodam:
Am a kwaran,

It doesn't freak me actually,

Lived in kwara for 6 years and never visited Ilorin, and majority of my friends live there.

I just don't have the zeal to visit there, might end up going one day sha

I wouldnt mind living in Ilorin, if ONLY it can provide the kind of Business/Employment opportunities Lagos has. I like the laid back feel of the town.

It has some crazy drivers sha

@temigracie

It was a fantastic experience. I ll back (in Terminator's voice).

Its rainy season so the weather is cool but it has worsened the state of some roads. The water level by Unity road is pretty high so flooding may be imminent.

temigracie:
...Hian!!!.....You no con snap pictures for GRA area, Asa-dam, My alma-mater.....
Op, deris Godu ooooo.......Oya, quick quick upload am nah nah.....
Thats my state fah.....

L O L. I was only there for 2 days.

Plus na only me waka come

Culled from http://www.naijavillas.com/trip-ilorin/

.

Roemichs Events Palace

Bad roads by General Hospital and Coca cola road

Roemichs International Schools (One of the best schools in Ilorin)

Home of Ambassador to Holland

Kwara State Taxi

Kwara State Government House

http://www.naijavillas.com/trip-ilorin

The journey was from Ikorodu – Epe – Ijebu Ode– Ibadan – Ogbomosho to Ilorin.

Kwara State Government House – Ahmadu Bello way

@owpj

The issue with investing in Business is you are outside the Country. Honestly, Even those in the Country have to physically supervise their Businesses (especially in the early years) to avoid the inevitable collapse of "remotely run Businesses".

That probably leaves you with passive investments like Shares and Real Estate. Only dabble into Shares is you are experienced or have an experienced mentor or guide. For Real Estate, N200k is on the lower side to buy some land, but is possible (I started with N110k per plot). Again, seek Real Estate firm or Experienced guide before venturing out.

post=27022376:
I have a BSc already and i just finished my NYSC, am i well equipped for the labour market or should i continue studying? Please i need your advice.

Start some professional certifications immediately, whether you feel equipped or not. It sets you apart from other graduates and shows Employers your advanced knowledge in your field. If your interest is:
Finance/Accounting: ICAN, ACCA
Investment Banking/Stockbroking: CIS, CFA
IT (Tons of certifications, depending on area of expertise): PMP & ITIL (Management), Cisco OCA, OCP (Database), CISA (Audit and Security) etc

@chiboy441

Like a previous poster mentioned, real estate is usually a good investment: Lower risk of losing your Capital (if due diligence is followed) and almost guaranteed appreciation. As your budget is about half a million and you arent always in Nigeria, I suggest you invest in Land from a reputable Real Estate company, and watch your investment grow.

What is obtainable in different climes is different in Nigeria. The definition of norm varies from clime to clime. So it is not unusual to purchase a land, leave it unkempt for some period of time, only return to see some form of construction – on your land. The reason – you didn’t take possession immediately after purchase.
What does that even mean?
After buying the land, particularly in a virgin land a.k.a bush, you should make some construction or other type of activity to show:
1. The land has changed ownership, and you are the new owner.
2. You are still alive and active. Omo Onile sometimes parade around areas to see where their are activities and lack of. If there are several months or years without any construction on the land, it is naively assumed that the Owner is probably dead and has forgotten about the Land. Whereas the owner might have travelled abroad or just so preoccupied to visit the land,
3. Some forms of land possession in Nigeria are recognized by law like in cases of Atipioko Ekan V. Uyo (1983), Lassie Akanni Buraihom V. Rebecca Ayinke Bamgbose (1983) and Eleguishi V. Oseni (2005) – “A person in possession of land includes a user of it and one who is in physical control therefore as well as one who is in receipt of rents and profits from installed by him”

The issue of land encroachment is very common in the South west of Nigeria, particularly the commercial hub of Lagos. Incase you are wondering, the Lekki axis witnesses the most rampant land encroachment issues in Lagos. Imagine people trespassing and building on General Theophilus Danjuma’s lands in Ajah? (Some people have mind sha). This just emphasizes the point that Everyone must take physical ownership of their landed property, immediately after acquisition.

The Government unfortunately have not done much to assist and protect people facing land encroachment issues, even in cases where the land was purchased from the Government. For Land disputes referred to the Police, the usual response is to call both parties to settle the issue amicably, out of court (like you had not considered that already be reporting the issue). Legal cases end up been delayed unnecessarily due to the bottle-necks in the Nigerian legal structure. It is not uncommon to have a Land dispute in Court for several years before a decision is realized. Again, this is a route that should be avoided where possible.

In other to avoid/mitigate land disputes, it is mandatory to take possession of your land, immediately after acquisition.

http://www.naijavillas.com/is-your-land-secured/

Where exactly is Aiyeteju?

How close is it to Awoyaya, Ibeju LGA, Eleko Junction etc?

ednut1: robbers in banana island who does dat

Was going to mention the same. Banana Island in Ikoyi is one of the safest most serene parts of Lagos.

Different strokes for different folks...

wheesin: TIME TO START WHAT IS CALLED ANNOYING BLOG PIRACY ..i just risked my life to get that.


2. 7 Bedroom Mansion,Maitama, Abuja Price:₦1,500,000,0007 bedroom mansion in Maitama. The land size is 2,620.32sqm its very well finished with 2 room guest house,2 room bq, swimming pool, and a basement.

3. 2 Mansions on 8 plots of Land,Victoria Island, Lagos. Price:₦1,500,000,000Each Mansion has 7 Bedrooms each with Swimming pool,2 Bedroom Bungalow, Parking space for 30 cars,2 big 100kva generator.

4. 3 Units 4 bedroom Terrace,Maitama Extension, Abuja Price:₦1,200,000,000Gorgeous home located in an highbrow area of Abuja, Nigeria with a Swimming Pool and Bar.It is a modern serviced house. It has a spacious sitting room and dinning area.Floors are made of marble and granite. Kitchen is spacious and functional with a work top surface. Toilets are fitted with Jacuzzi and Shower Bath. Each Duplex has it’s exclusive parking space as well as a large general parking space.

5. 7 bedroom House,Maitama, Abuja Price:₦1,200,000,0007 Bedroom detached house with service quarter,swimming pool,bush bar,car port,external jacuzzi and gate house on 3,000sqm land.

6. 6 Bedroom Duplex,Banana Island, Ikoyi, Lagos Price:₦850,000,000Duplex/Townhouse/Terrace

7. New Waterview 5 Bedroom Detached Duplex With Swimming Pool, Banana Island,Ikoyi, Lagos Price:₦750,000,000Excerpt: The results only includes Residential homes for sale and adequate information on the respective adverts

"i just risked my life to get that." - Congratulations, you survived LOL. The picture sizes were too big to share on one post, Hence the link.