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NewsMay 5, 2011

NITEL Board Approves Sale of NECOM House – Liquidator

The controversy surrounding the sale of the 37-storey NITEL building took a dramatic turn recently with the revelation by the liquidator of the NITEL/MTEL Pension Fund, Olusola Adekanola, that the board of NITEL approved the sale of the head office building – NECOM House. Adekanola, in a statement from his media and communication consultant, Kazie Uko, revealed that the list of NITEL’s non-core assets that were transferred to NITEL/MTEL Staff Pension Fund was prepared by a team of professionals working with NITEL management.

B Bing 3 min read
Landlords Slash Rent Prices in 1004 Estate Lagos

NewsMay 4, 2011

Landlords Slash Rent Prices in 1004 Estate Lagos

800 two and three bedroom flats (80%) of the 1004 flats in this estate entered into entered the Victoria Island market almost the same time in October 2010 with very high rent tags. Apparently responding to the credit crisis in the financial system however, landlords of the various flats at the estate have slashed the rents considerably.

B Bing 2 min read
Victoria Tower Coming to the Ikeja Skyline

NewsApr 25, 2011

Victoria Tower Coming to the Ikeja Skyline

Negris Group has launched an ambitious plan to build a 10 story building head office complex within the Central Business District in Ikeja Lagos. Christened Victoria Towers, as it is called, will be located along Mobolaji Bank Anthony Way, few minutes drive from both the international and local airports and Alausa, the seat of the Lagos State Government.

B Bing 2 min read
Property Prices Set to Increase as New Insurance Law Comes Into Force

NewsApr 24, 2011

Property Prices Set to Increase as New Insurance Law Comes Into Force

Property prices are expected to increase following the commencement of an Insurance Act that makes it mandatory for property owners or contractors to insure buildings with more than two floors in respect of construction risks. The enforcement of this law commenced on the 1st of March.

B Bing 3 min read
Lagos Reveals New Home Ownership Scheme

NewsApr 23, 2011

Lagos Reveals New Home Ownership Scheme

The Lagos State Government has established a mortgage finance system to aid Lagosians acquire homes. The scheme, known as the Lagos Home Ownership and Mortgage Scheme (HOMS), will allow first time home buyers resident in Lagos State the opportunity to own houses.

B Bing 2 min read
Property Value in Surulere Expected to Increase

NewsApr 23, 2011

Property Value in Surulere Expected to Increase

Experts within the real estate industry expect the value of property in Surulere to increase following the delivery of some major development schemes by the Lagos authorities. These projects include the Gbaja Shopping, Mall, the upgraded Adeniran Ogunsanya Street and Adeniran Ogunsanya Shopping Mall, amongst others.

B Bing 1 min read